Some interesting things happening with BRN on a technical level,
The RSI is hovering around the 30 area, as you can see on the chart below the last 4 times price got down to this oversold level there was a decent bounce soon after.
Dec 2020 RSI hovered close to 30 BRN moved from a low of 30.5c to a high of 68c over 19 trading days
March 2021 RSI touched 30, BRN moved from a low of 41c to a high of 77c this time it took only 12 trading days
July 2021 the RSI hovered around 30 BRN moved from a low of 43.5 to a high of 55c over 11 trading days
October 2021 RSI actually broke below 30, BRN moved from a low of 36.5 to a high of 52c over 16 trading days
So whenever the SP gets so oversold BRN has a history of rallying once the RSI gets near to 30, BRN rallied 25%, 40%, 90% to 125%
Currently the RSI is also near the 30 level so odds favour a decent bounce based on BRN's history, the daily macd is also about to cross and even after such a large sell off BRN is still above its 200 day MA
DYOR
Chart, page-18195
Add BRN (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
27.5¢ |
Change
0.005(1.85%) |
Mkt cap ! $510.3M | |||
| Open | High | Low | Value | Volume |
| 27.5¢ | 28.5¢ | 27.3¢ | $2.985M | 10.69M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 813401 | 27.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 28.0¢ | 601137 | 5 |
View Market Depth
| Last trade - 16.10pm 27/05/2024 (20 minute delay) ? |
|
|||||
|
Last
28.0¢ |
Change
0.005 ( 3.59 %) |
||||
| Open | High | Low | Volume | ||
| 27.5¢ | 28.5¢ | 27.5¢ | 6052030 | ||
| Last updated 15.59pm 27/05/2024 ? | |||||
| BRN (ASX) Chart |