Perhaps, but there are a lot of risks attached. Including this one in the graph above.
Every recession for the past few decades has been immediately preceded by a 50% increase in the price of crude oil from the trend. That 50% increase has just been achieved. Tech stocks with no revenue will continue to be massacred.
For BRN (IMO), macro themes are going to weigh extremely heavily and regardless of the speculation from investors that BRN could one day be a Microsoft etc.
In the very short term, the SP will be under $1 (within the next 2-3 weeks), and as for a ‘bottom’ in the medium term, this is harder to predict, although I think 70-75 cents is quite likely IMO.
Chart, page-17891
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Last
17.5¢ |
Change
0.005(2.94%) |
Mkt cap ! $343.4M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 18.5¢ | 16.5¢ | $1.865M | 10.58M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 36 | 1001708 | 17.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.5¢ | 167790 | 3 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| BRN (ASX) Chart |