If you want to talk technicals, to me it looks like it's "Oversold" on "Low Volume".
True/accurate "support" is hard to measure for a company that has been listed for 2 months (since week3 of Sept), and especially difficult for a company that is pure "speculation" with no possible accurate guidance on revenue, and inability to predict/assess any sort of market cap.
Entire valuation exists solely on faith in the product and management, and belief in the announcements to be factually true. Personally, I have no reason to doubt any of the announcements, and consider it to only be a matter of time when the story will unfold, in a favourable way.
When retail investor "faith" is tested, it is difficult to reassure the investor without any concrete and factual data to refer to.
You either believe the story and are buying/holding, or you're waiting on the sidelines for some news which you find to be an agreeable buying signal. Additionally, some people may also believe in the business, but think they might be able to get a better price in the future, and/or are pursuing opportunities elsewhere.
Speculation is a tricky business, because you are essentially trying to predict what other speculators will value the company, while other speculators are are doing the same.
Taking all of the above into consideration, the share price price will be volatile and unpredictable at best of times.
Remember to do your own research, and not base your investment decisions on other people's opinions.
BRN Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
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