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Haven't had time to update chart but still want that break as posted previously below to give some impetus to the current move.So after the falling wedge didn't get the break but SP did find some supp & moved into a sideways track at the mo, thought I'd have a revisit where we are at.
Overall, the ranging is pretty clear even to a non TA person but underlying imo there is a tightening / squeeze coming in with the previous strong underlying bearish bias easing. Watching for the potential BO. Like to see a confirm above approx. 1.03 - 1.09.
1. Picks up pivots and can see how tight the recent pivots have been in the box at 4.
2. Indicator summary again lends weight to the current bull / bear tussle with mixed bias.
3. Hull EMA 20 (blue) & 50 (white) with circle highlights of crosses though currently flat in that ranging (values right axis).
4. Highlight of current ranging but also the boxes align to #6.
5. Tries to indicate ~ buy / sell within each bar & whilst seeing selling the shares appear to be getting absorbed hence the ranging.
6. Momentum & squeeze indicator from Bolli Bands & Keltner Channel EMAs. The red dots to yellow indicate a squeezing & can see previously left similar events. The histogram provides bias and indicative momentum. Can see how the bear bias has been easing further into this ranging & squeeze.
7. Trend based indicator paints the SP bars according to centre crosses for bull / bear & strength. Can see the weakening of the bear bias recently. Need cross up on the squeeze BO.
View attachment 4029
1. Pivots worked off monthly value & obviously as SP moves away (bull or bear) then provides bias. Can also assist with supp / resist areas & again can see confirmation of how recent pivots to SP in the DT has been tightening into the range. Currently sitting at 1.045 to break.
2. Auto Fib reflecting the SP retrace to the 786 level and trying to hold.
3. Summary panel diff to the above chart but again mixed bias in the tussle.
4. Just a highlight of the flat EMA's (values on right axis & bias in the indicator panel).
5. Five various indicator readings combined (coloured areas) plus a vol bias (green histo) showing vol bias just bull bias and indicators again mixed with split of colours above the centre line. Need all blue above centre & rising histo.
6. Indicator looks for range (between the lines) & BO momentum to bull (blue) & bear (orange) with extreme levels for poss OB / OS areas.
View attachment 4028
Haven't had time to update chart but still want that break as posted previously below to give some impetus to the current move.
Post in thread 'Technical Analysis' https://thestockexchange.com.au/threads/technical-analysis.5/post-44737
"A real hot stock is BrainChip. Partners like Mercedes show that the Australians are on the right track."
Super love your input. Thanks man.Hi Rocket...
Happy to oblige but not too sure there is that much to add to what I have outlined previously... On the one hand, there are early signs of a bottom forming, but on the other, the general market (and tech in particular) are in a very delicate position IMHO. Add to that the fact that we have been told to "keep an eye on the financials" (rather than expect major announcements) as an indication of company progress and that this will most likely begin to materialize later in the Calendar year and continue the next one.
These are some of the reasons, from a long-term holding perspective, that I am not rushing to get my (far from desperate) top-up and would like to see a more major technical indication of sustained upside or a downside push that presents a bargain that would be hard to turn down and with plenty of support beneath it.
I think a lot of people's patience is likely to get tested in the coming months, but who knows...
Here are the charts (with a couple of additional annotations).
All the best.
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