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20.0¢ brainchip holdings ltd

another thing to take not of is that it has not broken below the...

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PetterH

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28/01/22

20:31

Post #: 59202455
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Originally posted by PetterH: ↑

OK, its been a long time since I have posted my thought on the charts thread. Above I have posted a daily chart. The first thing I noticed was the RSI is sitting right on 50 points coming down from being red Hot. I usually use the 50 RSI as an indicator where this will head next and right now its hard to tell, but generally I would say if it breaks below 50 it might have more downside potentially going back towards 30. OR it might find support around 50 and move back up towards 80.

The second thing I noticed was the key level around $1.33, it had a day of testing that level before it moved on the big run above $2 as well as re testing this level twice now showing good support. Again if it breaks this level I dont know how far back it will go, but I would guess close to $1 if it breaks that support. This might take a few weeks to occure as i think the main sell off is finished.

Third thing I noticed was fib levels from start of major run where it broke away from over all trend line is now currently sitting on 0.618 fib right around that same $1.33 level maybe just coincidence or maybe further confirmation that $1.33 is a crucial level.

over all takeaway, we are still in an uptrend until we cross back below that over all trendline. Trend is your friend as they say, when in doubt, zoom out, and all the other cliché sayings you can think of.

And then on the 15 min short term chart I would just like to point out that we are in a descending triangle witch I think has been pointed out before with the trading range tightening between the descending trend line and $1.33 support.

Using the Ichimuku cloud we can also see the resistance follows that descending trend line quite nicely so if we break trough that cloud it will be go time in my opinion.

RSI points to me that it will retest the $1.33 again before trying to break trough to the upside.

This is all my opinion and you should not take anything I say as financial advice.

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another thing to take not of is that it has not broken below the 50 point RSI since it broke trough in October of last year. seems to have been a support on the RSI for a while. it will be interesting to see.

BRN Price at posting: $1.39 Sentiment: Buy Disclosure: Held
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(20min delay)
Last 20.0¢		Change 0.000(0.00%)		Mkt cap ! $371.1M

Open	High	Low	Value	Volume
19.5¢	20.5¢	19.5¢	$656.1K	3.281M

Buyers (Bids)

No.	Vol.	Price($)
16	364081	20.0¢

Sellers (Offers)

Price($)	Vol.	No.
20.5¢	1348618	18

View Market Depth

No.	Vol.	Price($)
11	199988	0.200
41	1118223	0.195
53	1539533	0.190
32	1383291	0.185
45	1476388	0.180

Price($)	Vol.	No.
0.205	1097428	14
0.210	1198206	19
0.215	422560	18
0.220	724111	24
0.225	361409	12

Last trade - 16.10pm 12/07/2024 (20 minute delay)

BRN (ASX) Chart

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