BRN has been in a down trend since January and has traded under...

BRN has been in a down trend since January and has traded under its 200DMMA since August

Very basic rules of investing in a company

• SP Under 200MMA = Bear Market.
• SP Over 200MMA = Bull Market.

IMO Green shoots have appeared.
Punters could be anticipating something to eventuate from the

The AGM falls on the 23rd.
I wouldn't expect any news to come from either but one can coninue to hope.

Here are the small signs that indicated to me a turnaround in sentiment has begun:
The last 8 weeks has shown positive divergence on the MACD. (Very low volumes)
As a lagging indicator it seems to be hinting of a change in direction/sentiment.
The lowest MACD in the last 12 months has been -0.079 which occurred in November 22The SP has made new lows since but the MACD has not.At BRNs lowest on May 23rd the SP was 37c the MACD did not set a new low and stood higher at -0.023.
MACD has been telling of a rising mood since early April 2023


There has also been one higher low and higher high recently, the RSI is beginning to approach positive territory and the SP rose above the 50 DMMA on Friday.

Obviously early days and there are a few huge hills to climb before we can declare an uptrend including;

• More HH and HL
• SP needs to rise above the 100 and 200 DMMA
• 50 DMMA needs to cross the 100DMMA
• 100 DMMA needs to cross the 200DMMA

Obviously those same MMAs will act as resistance on the way back up.

I will continue to wait patiently for this tech to do its disruptive work.
It will only take ONE peice of news which includes revenue or onbarding of a major customer to change everything overnight.
Many people, including I, believe this will happen in due course.

Our ecosystem partners are creating products for customers using AKIDA, the disruptive technology which has already been proven to be far superior to any on the market to date, patience is all that is required.