Yes, we don't see price drops questioned often on ASX, but BRN...

Yes, we don't see price drops questioned often on ASX, but BRN is (at present) in the top 200 companies, so being in the XJO might have prompted the notice.

IMO todays crash has been the breach of 59c, many traders who are following BRN would have had a breach of 59c as a line in the sand (that's what it was technically), 59c was the low(s) BRN struck after the 4C which was released in late Oct22.

If you look at chart below you can see BRN also had some support @59c also during Nov/Dec 2021, the 59c support line is red on my chart.

The next level of support is the purple line, where there is some support @52c, which has been breached today also, I would like to see BRN hold 52c at todays close.

Further below on the green line, there is some support @45 to 48c, after that there is no technical support until the 38 to 40c level.

It should be kept in mind that anyone who purchased shares in BRN over the last 13 to 14 months is in the red, and in the case of many buyers over the say 80c level you are taking a bad beating. For anyone who got in over $1 losses are getting tough.

So many retail buyers would be getting exxhausted by the 13 month drop from $2.34 to where we are today, adding to the bearish tenor of the relentless decline in BRN has been the concurrent decline in the Nasdaq.

But as I said at the outset 59c was an important line for many, it will have triggered stop losses, and the bots have gone hard, and there will have been considerable retail capitulation - volume is thru the roof.

Chart with support levels below, the 0% level is the high $2.34, the 100% level at bottom is the important low struck in early Oct 2021 @36.5c.

I remain a strong holder, and not particularly surprised by todays price action, because I have been looking at this chart for months. Importantly BRN have made some critical advances in the last year, but I believe Mr Market wants to see revenue, and on that front for an ASX200 Co BRN doesn't have much money coming in.

Why do I continue to hold strong, it helps a lot that I have been holding since 2015 and my average cost is way below 52c, but the main reason is BRN has not lost any of it's potential at all. So I am really disappointed to see S/P here, but know there has been so much going on in recent times toward making this company successful in the not so distant future - barring WW3.