Brainchip Chart, page-22

Hi Folks

Following recent action I thought a updated weekly chart was in order.

First thing I noticed on the chart was the recent volume the biggest since the Mercedes boom and bust in Jan 2022. Although those big volume days rose from a base price of 50's and our volume rose from a base price of 15c. Still impressive.

Last two weekly hi-lo candles traded entirely above the 10WMA, for me a bullish signal. Importantly the 10WMA is rising. The MACD is very positive for the first time in a long while which happen in 2022.

In the current daily chart we just opened an unfilled gap 0.44-45.5. In that previous boom there were 3 unfilled gaps created in the upswing period that were latter filled in the bust.

I was riding the roller coaster during that boom and bust. News surfaced behind that rise, as yet no news that I know of has surfaced. So I think this time someone or multiple parties are taking a position. So, so far it's different.

It comes down to how much stock they want and the price they are prepared to pay, obviously. But I suspect we won't get the same rocketing effect through the $1 to $2 that happened last time. I think that, that may take solid contracts that will eventually mean dollars hitting the accounts.

That last boom was very exciting, but based on the misinterpretation of the Mercedes news

At that time my holding cost a single digit and I held through the rise. No I didn't sell near the peak it was only over $2 for two days, but partially sold into Dead cat bounce (DCB) at 1.60s.

I only sold a small portion. After the CGT 50% discount and rationalising 4 underwater species I paid no CGT, free-carried BRN and topped up my speccies investment pool considerably. At the time it made a lot of sense, however , in retrospect should have sold more and paid the CGT. But, that's life in the markets.

So I am not looking for that sort of boom, but structured based on concrete evidence. Maybe that will come after whoever is accumulating gets their fill.

Just my opinions DYOR

cheers Lies