I don't think the chart is looking too healthy, likely 62c will not hold. Given the good news flow and sp return to support level, noting ppl generally talk "it has been priced" in after the fact.
I believe it will break through the support level to reach 55c. Once the support line is broken the flood gate will open. All the fake buys from 60-61.5 will get pulled when the support is broken.
BRN can do crazy move as we all know, given the volatility. So I'm not surprise to see such leg down. Sell depth is also increasing.
One other note of caution is CR - given such a meteoric rise and awareness of BRN, I'm sure some cornerstone investors may want a piece of the action.
I'm optimistic about BRN future long-term. Short-term volatility is unavoidable, and happens to stocks going through rerating. A few things are starting to line up nicely.
I don't think the chart is looking too healthy, likely 62c will...
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Last
22.0¢ |
Change
-0.005(2.22%) |
Mkt cap ! $408.3M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 22.5¢ | 21.8¢ | $1.107M | 5.019M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 110458 | 22.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.5¢ | 355185 | 24 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| BRN (ASX) Chart |