Brainchip Chart, page-636

Hi Exmouth
Up very early again ( probably due to being on the different side of the globe) and had time to reflect on your post. It helped me rationalise things a little.

In general I am in agreement with you about the incredible potential of BRN. I wouldn’t be interested otherwise.

I only have two contentions with your post.

Firstly the definition of “very close”. Two years ago I thought that we were very close and the SP was around 90. One year ago I thought that we were definitely very close and the SP was around 35. since then the SP has visited 16.

Then what occurred was a huge surge up to 53 ( a 330% rise) based on the hype idea we must be very close and something must be happening. No news as evidence that something is occurring, just as it turns out, wishful thinking, propelled by the fear of missing out (FOMO). Currently the SP is backdown to 21 so the markets view of very close has changed radical since late February..

I am a chartist and I also am an attempted bottom picker. Not trying to pick the actual bottom but try to attempt to get somewhere in the region. The charts are totally useless with predicting significant news. They are useful in the event of no significant news surfacing.

I noticed that you are a holder for 4 years and my original purchase was 5 years ago. So we are both holders of the stock purchased in single digits. With that Mercedes hype rise I sold a small portion after the peak into the first DCB. I should have sold a slightly bigger portion, but was trying to avoid CGT. I paid no CGT using the 50% long holder discount a then rationalising some underwater species. In hindsight I should have paid a little CGT. Hindsight is wishful thinking.

Late last year because of my charts I decided to pick up a trading parcel at 18 but this time as BRN was now an ASX300 stock in my super where I pay no CGT. So I was bottom picking.

In that recent Feb surge I was waiting for the significant news to surface reinforcing the rise. It didn’t come.
Then when the SP dropped from 53 to 32 in 2 weeks the charts were sending out alarm bells. I sold 40% of my trading parcel into the DCB that came again after the peak. I sold at the 50% Fib bounce. it actually bouncedto the 67% retracement level,

So I am bottom picking again.

On the weekly charts the 10WMA has been falling for the last 8 weeks with the weekly hi-Lo candles way below the 10WMA line. With no news surfacing “ very close” I am prepared to wait for the 10WMA to flatten out and trading volume to be very low before I again add to that trading parcel.

Your post also made me think why has no significant news surfaced of a serious IP deal with one of the biggies in the various industries that must be interested in our tech.

Possibly it’s the same reason that no man has walked
on the moon for over 50 years. The cost benefit.

Maybe BRN are asking too much from the interested parties to secure a deal. Maybe they need to lower their terms and prices. Just speculating.

So DYOR.

I have rambled on for far too long, but it did fill in the time before everyone surfaces.

We shall see?

cheers Lies