Well Dio, after some consideration I think box C should have started 2 days earlier which would have given it a 20 day duration.
I did consider a box between E and F but it would have been a shorter duration box, and what I am saying with my post re the boxes is that they have been repeating throughout this year; and at the end of each box (which is really a trading range over a period of time ranging from 18, to 37 days in the case of the longer duration box E (the other boxes are all 18 to 26 days - which is where we are with box F at present).
So at the conclusion of each box BRN has suffered a rapid SP decline, and as I said box F is getting fairly mature, so what we would all like to see is a breakout to the upward instead of the rapid decline adding to the exhausting downtrend.
And yes an examination of bot activity would be enlightening, my money would probably be on conclusive, but I don't have access to that data. It is known that 70% of price movement on ASX is initiated by bots, back before the advent of bots it was large share parcels buy or sell which initiated the vast majority of price movement, but the chart tells us that the BRN SP has been attacked over short durations for pretty precipitous falls - after trading in a range for a period - as I have outlined.
I don't follow price action that closely now, but have done in the past, I have posted previously that it would be very interesting to see if a link could be drawn between bot activity (run by instos) which can be readily controlled by the quantitative analysts who program them, and shorting campaigns - I don't have any data on who is doing the short selling.
My thinking is while this would/should be illegal, there could be links, mind you there are multiple bots at the exchanges and multiple instos who make shares available to options traders (who trade up, down and sideways, as well as other more sophisticated options strategies). It's definitely a jungle out there.
I think the clarification you seek can be found in the CEO's address of the 24th of May 2022 annual general meeting, ASX announcement
Well Dio, after some consideration I think box C should have started 2 days earlier which would have given it a 20 day duration.
I did consider a box between E and F but it would have been a shorter duration box, and what I am saying with my post re the boxes is that they have been repeating throughout this year; and at the end of each box (which is really a trading range over a period of time ranging from 18, to 37 days in the case of the longer duration box E (the other boxes are all 18 to 26 days - which is where we are with box F at present).
So at the conclusion of each box BRN has suffered a rapid SP decline, and as I said box F is getting fairly mature, so what we would all like to see is a breakout to the upward instead of the rapid decline adding to the exhausting downtrend.
And yes an examination of bot activity would be enlightening, my money would probably be on conclusive, but I don't have access to that data. It is known that 70% of price movement on ASX is initiated by bots, back before the advent of bots it was large share parcels buy or sell which initiated the vast majority of price movement, but the chart tells us that the BRN SP has been attacked over short durations for pretty precipitous falls - after trading in a range for a period - as I have outlined.
I don't follow price action that closely now, but have done in the past, I have posted previously that it would be very interesting to see if a link could be drawn between bot activity (run by instos) which can be readily controlled by the quantitative analysts who program them, and shorting campaigns - I don't have any data on who is doing the short selling.
My thinking is while this would/should be illegal, there could be links, mind you there are multiple bots at the exchanges and multiple instos who make shares available to options traders (who trade up, down and sideways, as well as other more sophisticated options strategies). It's definitely a jungle out there.
I bought back in at 19c yesterday. I don’t know why on reflection…
Just read again the CEOs address at the AGM..
Not sure there’s a lot of clarity in terms of specifics about partnerships vs IP engagements or any integration of both.
The last paragraph reads:
“Commercially, we finally have the team and processes in place to engage broadly and deeply. We will aggressively market, partner and
sell globally over the next 12 months; and while the transformation will never fully complete, it has put us in a much better position to win engagements.
We are doing the right things; the market is coming, and I’m confident that substantial sustainable revenues will occur.”
5 months since that address.. 2x financials- H12023 $115k revenue
Q3 2023 $27k receipts.
Head of Sales resigned.
The only substantial $$ coming are to executives.
Just holding the best paid small cap CEO to his words..
Could also pull him up on the worst economic downturn he mentioned in the tech sector in his time.. Sorry Sean, that was just a technical recession..
One poster shared a Scott Galloway video yesterday paraphrasing,
“even though there’s been a retraction in employee levels over the short term, it’s only a small retraction from what was a huge growth in employment in the tech sector.”
My opinion:
Good luck Sean when we hit the next real depression in 5 years time, not a technical recession that was a blip.. A global depression that will take 4-5 years to recover from, if not longer..
BRN will need to be a wholesale name and one of the top few Edge AI companies to survive that incoming economic onslaught..
People have to start waking up to the fact this company may not be what you think it is and what it hypes itself as..
If the same narrative keeps rolling in, 6c is coming and then carnage.. So don’t for one minute think the bottom is in with BRN.. It can still go a lot lower.
Hence I don’t know why I FOMO bought back in again…
Must be stupid..