Brainchip Chart, page-692

Hi Folks

Back from our travels, weary and good to be back home.

Both my traditional charts and my comparison chart indicated to stay away at least until July. Not rushing in just yet.

Firstly I have taken a look at the daily chart.

All last year I posted about a series of lower support waterlines. There were 5 of them.
It seems after the Feb hype surge, on no news at all, that the pattern continues with so far 3 lower support waterlines with 2 of them leaking down to the next lower waterline.

Notice on each waterline the 10DMA flattens and can even rise some and the almost inevitable bounce trades entirely above it for some days often bouncing up to the old waterline. There are the occasional dips and dives below the waterline but surface quickly. The multi-day leaks are more obvious.
One other thing to notice from the daily chart is the steady decline of the 40DMA and the distance between the 10DMA and the 40DMA.

Overall its a bearish daily chart and with the absence of news ( I can't chart the news), despite the occasional bounce, another leak to a lower waterline would not surprise me at all.

There are no FIB's on this daily chart, they will surface when I do the weekly chart.

The next quarterly report is due late July. The last quarterly reported receipts from customers were $US90,000. I am expecting some revenue to surface from the sale of the Akida 2.0 chip. Over $US1m revenue could surface being over a 1000% increase causing some enthusiasm, but burning over $US4m a quarter should be kept in mind.

Finally the next ASX300 index rebalancing occurs in Sep. BRN just survived the last rebalance. Removal from the index can have a number of unpredictable ramifications.

Food for thought so DYOR.

cheers Lies