Technical Analysis

[Bloodsy]

Hi All

The more DYOR i do on BRN , the more impressed i get, it appears there is ooooodles of markets in which Akida systems can do their magic and I didnt know that BRN is the worlds first neuromorphic IP producer.........tick.

Centres of engineering , USA, Australia, France and India............tick

15yrs of Architecture Al research.........tick

Here is a chart update.

View attachment 10421

In my last post , i mentioned that 96 resistance needed to break to confirm a swing, well if i bothered to check the hourly chart, then i would have realised it had no chance considering it was in the middle of an ABC correction....RSI 14 was rather high too, peaking at 70, which most hourly charts do in my experience,

Anyway, SP currently has hit the 61 fib ( 84 ) level, a common reversal for sub wave 2 down and there is also good support there too, support also at 82 and 78 fib ( 80.81 ) , so minimal downside, but i wouldnt want to see it get much lower than that other wise this little run could get bearish.

I am looking for that RSI 14 to get above 38 and the 5ema to flatten out, before i take an entry.

View attachment 10426

Of course, everything relies on the DOW behaving itself, 38 fib retraces for sub wave 4 down are common and also good reversal zones but could also drop lower to the height of wave 1 up or a tad lower, 61 fib ( 30517 ) , where good support lies, failure to hold there , well, as Mr T would say............more

View attachment 10429
imo

Beisha- nice to see you here and thanks for sharing some of your charting knowledge! Keep it coming please… gotta have something to talk about since the news is somewhat dry as of right now.

Glad to hear you are diving into the world of Brainchip and the applications of Akida! If you haven’t already, take a look at brainchips YouTube channel for industry chats and brainchip specific applications!!! All the best

 

[BEISHA]

Actually would you care for me to pick a few random posts of yours?

I am a newbie when it comes to BRN threads, so i dont have a feel for certain posters nuances yet, but from our limited conversation so far, i get the feeling you need to grow some maturity pills..........

You trying to flame and bait ?

Are we on the hot crapper or are we at TSE......... where intelligent folk speak ?

Apparently you are a top 20 holder..............very strange behaviour.........

This is a TA thread, where we talk charts and possibilities, so if you have a question based on that, then by all means go for it, but if you are here for any other reason, may i respectfully suggest that you take your BS somewhere else.

cheers

 

[BEISHA]

Beisha- nice to see you here and thanks for sharing some of your charting knowledge! Keep it coming please… gotta have something to talk about since the news is somewhat dry as of right now.

Glad to hear you are diving into the world of Brainchip and the applications of Akida! If you haven’t already, take a look at brainchips YouTube channel for industry chats and brainchip specific applications!!! All the best

" if you havnt already, take a look at brainchips youtube channel "

Thanks for that advice, have already delved into it, i read an article from " NANALYZE " which bad mouthed BRN essentially for not achieving much in the way of sales, all talk no action so to speak , but then i watched another video from " ASX INVESTOR " who actually made alot of sense, BRN is a disruptive technology, takes time to get the word around , takes time to achieve strategic investment, i liked his analogy of BRN to a mining cycle

BRN is in the ORHAN period.

Patience is key.

imo

 

[Bloodsy]

" if you havnt already, take a look at brainchips youtube channel "

Thanks for that advice, have already delved into it, i read an article from " NANALYZE " which bad mouthed BRN essentially for not achieving much in the way of sales, all talk no action so to speak , but then i watched another video from " ASX INVESTOR " who actually made alot of sense, BRN is a disruptive technology, takes time to get the word around , takes time to achieve strategic investment, i liked his analogy of BRN to a mining cycle

View attachment 10477
BRN is in the ORHAN period.

Patience is key.

imo

Good stuff Beisha, yes the nanalyze video is notorious for using certain past aspects of the company and casting them in a bad light EG. The back door listing through AZK days lol.

ASX investors video where he converts the phases of mineral discovery and operation is one of the best I’ve heard.

In this case I would supplement the ‘Institutional/strategic investment stage’ with ‘Strategic partnering/ IP licensing’. Similarly to the capital requirements involved in setting up a plant, brainchip are laying the foundations of where revenue will be generated from.

Personally I see BRN in that trough between orphan and strategic investment, as the partnering as picked up pace in recent months, and hopefully later in the year the first revenues will begin to appear and we make our ascent!!

 

[alwaysgreen]

Geez SP really shit the bed this afternoon...

 

[BEISHA]

Geez SP really shit the bed this afternoon...

BRN aint an orphan, every stock has taken a beating in every sector, even gold and related miners like EVN have got the treatment with global interest rate hikes providing a stronger dollar.

But the good news,

BRN looks to have found some support at the 78 fib ( 80.8 ) on the hourly chart and RSI 14 has come off the low, 5 ema rising ( pink line ) and converging with the 20sma ( red line ), so looking a bit more positive.

DOW had a positive Friday night and looks to have found support at the 61 fib ( 30517 ) support line, too early to tell yet, but could sub wave 5 up be on the way now ?

It would give every stock a boost in sentiment, including BRN.

Considering BRN is a tech stock, i would imagine that a bullish NASDAQ macro would help the sentiment too, has it found the bottom at 10535 ?

Time will tell

Overall, green flags starting to appear.

@Rocket577 , is this post a bit more positive for you ?......

Personally, i would be holding off on the champers until BRN breaks the 50 /61 fib ( 84/86 ) resistance lines , then i would confident of sub wave 3 up is on its way and the low of 80 is concrete.........but hey,

Baby steps in the right direction is just fine for now.

imo

 

[LexLuther77]

BRN aint an orphan, every stock has taken a beating in every sector, even gold and related miners like EVN have got the treatment with global interest rate hikes providing a stronger dollar.

But the good news,

View attachment 10600
BRN looks to have found some support at the 78 fib ( 80.8 ) on the hourly chart and RSI 14 has come off the low, 5 ema rising ( pink line ) and converging with the 20sma ( red line ), so looking a bit more positive.

View attachment 10601
DOW had a positive Friday night and looks to have found support at the 61 fib ( 30517 ) support line, too early to tell yet, but could sub wave 5 up be on the way now ?

It would give every stock a boost in sentiment, including BRN.

View attachment 10603

Considering BRN is a tech stock, i would imagine that a bullish NASDAQ macro would help the sentiment too, has it found the bottom at 10535 ?

Time will tell

Overall, green flags starting to appear.

@Rocket577 , is this post a bit more positive for you ?......

View attachment 10604

Personally, i would be holding off on the champers until BRN breaks the 50 /61 fib ( 84/86 ) resistance lines , then i would confident of sub wave 3 up is on its way and the low of 80 is concrete.........but hey,

View attachment 10605

Baby steps in the right direction is just fine for now.

imo

Top post

 

[BEISHA]

Hi All

Nice little run BRN is having, minor sub wave 3 up definitely on here with a initial target of 110 ( 1.618 ).
5ema ( purple line ) has now crossed the 20sma ( red line ) , 30ema ( yellow line ) looking like its basing too.
RSI 14 looking bullish.

That being said, the current run looks to have peaked on the 30minute chart with SP completing 5 waves, high on the bollie, with RSI 14 peaking at 92 and now reversing.........

50/61 fib support ( 90/88 ) is where i see the SP back test to, when that happens and i see the first signs of SP pushing up from those levels....I will take an entry.

I think 80 is the low now, barring any more catastrophy with the MACRO.

Can anyone tell me when the next quarterly is and / or short term catalysts that might fire up the SP ?

I am sure i read from the FA thread, that the CEO indicated that earnings might outstrip expenses later in the second half of this year.

The reason why i ask, is that i like to link TA with FA and corresponding volume.

imo

 

[Dang Son]

hi BEISHA , Interesting chart thanks for sharing.​

30th June Quarterly due towards end July,
General consensus is not to expect much revenue yet,
but I'm hopeful of some degree of increase .
There are plenty of catalysts gurgling away as consistently being discussed on that BRN thread.
Cheers.

 

[Deleted member 118]

Anyone got the latest short position?

 

[BEISHA]

hi BEISHA , Interesting chart thanks for sharing.​

30th June Quarterly due towards end July,
General consensus is not to expect much revenue yet,
but I'm hopeful of some degree of increase .
There are plenty of catalysts gurgling away as consistently being discussed on that BRN thread.
Cheers.

Thanks for your post, the quarterly will be an interesting one regards to revenue, no one should really have high expectations at this stage, i mean, Akida Al processor development kits for coys to trial, only took place in late October 2021 and the appointment of Sean Hehir ( CEO ) only took place in mid November 2021, as impressive is his CV, he really only had a few months to get the feelers out if you take into account the festive season ( DEC / JAN ), so if they report some sales, then that would be impressive IMO

I am self employed, been in multiple businesses over the journey, things dont happen over night i can tell you, it takes years, that said BRN technology is next level and considering that the price of energy / electricity is astronomical in this high inflation world currently, I wouldnt be surprised if earnings has started to tick thru, just depends on how long coy do their DD.

On to the charts.

In my last post, i suggested that the current run for BRN had come to an end and the 50/61 fib support targets would come into play, well, thats how it has played out with SP currently hitting the 50 fib, just a matter now if it decides to go one step further down the rung, which is two pips worth, so minimal down risk imo.

I have my SMSF ready to go finally , so i am ready to press the BUY trigger and commence my investment journey with BRN very soon, i have done enuff FA, the tech is next level, its energy efficient which complies with the ESG Paris Accord 2050, it has endless market opportunities and the BOD led by Sean Hehir is awesome, so whats not to like here apart from evidence of sales , which will take time ?

On top of all that, MACRO looks stable, with a tinge of bull.

DOW chart, yellow arrow pointing to 5ema cross 20sma, with the 30/50 ema flattening out, RSI 14 primed to get above 50, where the real surge starts.

NASDAQ looks a carbon copy of the DOW, 5 ema cross 20sma, converging with 30ema.

RSI 14 above 50

ALL ORDINARIES...............ditto DOW / NASDAQ...........not surprising given the ASX follows like a lost puppy.

https://tvc-invdn-com.investing.com/data/tvc_a4047f0dc8620e7f41692d9e6405abb7.png

The S&P 500 ditto too, isnt that WEGIAN on HC an absolute flog ?

imo

 

[jwoody2000]

think in other threads there is a mention or two from comments of our team were heard to say in interviews when queried about revenue...and responses around.... because of our ndas' we should look at the quarterly, as ndas are that ... can't annoucement to the market who is paying us...but ASX and tax man ...there is a need to disclose how much we are getting.
and this long discussed and mentioned via many of our gurus FF and others... a defence contract would have security issues with it ...so the like or the US or even Nasa are unlikely to spread the word about an advantage over the putins of the world by announcing $s for a project ...but a donation to our bank accounts like a 50million in this quarterly would see us over the $2 if only on the spec the floods gates are leaking with the first drops.
the ASX is going to have issues ask for more detail in the way they have pushed many others

 

[A8kr1]

Thanks for your post, the quarterly will be an interesting one regards to revenue, no one should really have high expectations at this stage, i mean, Akida Al processor development kits for coys to trial, only took place in late October 2021 and the appointment of Sean Hehir ( CEO ) only took place in mid November 2021, as impressive is his CV, he really only had a few months to get the feelers out if you take into account the festive season ( DEC / JAN ), so if they report some sales, then that would be impressive IMO

I am self employed, been in multiple businesses over the journey, things dont happen over night i can tell you, it takes years, that said BRN technology is next level and considering that the price of energy / electricity is astronomical in this high inflation world currently, I wouldnt be surprised if earnings has started to tick thru, just depends on how long coy do their DD.

On to the charts.

View attachment 10992

In my last post, i suggested that the current run for BRN had come to an end and the 50/61 fib support targets would come into play, well, thats how it has played out with SP currently hitting the 50 fib, just a matter now if it decides to go one step further down the rung, which is two pips worth, so minimal down risk imo.

I have my SMSF ready to go finally , so i am ready to press the BUY trigger and commence my investment journey with BRN very soon, i have done enuff FA, the tech is next level, its energy efficient which complies with the ESG Paris Accord 2050, it has endless market opportunities and the BOD led by Sean Hehir is awesome, so whats not to like here apart from evidence of sales , which will take time ?

On top of all that, MACRO looks stable, with a tinge of bull.

View attachment 10993

DOW chart, yellow arrow pointing to 5ema cross 20sma, with the 30/50 ema flattening out, RSI 14 primed to get above 50, where the real surge starts.

View attachment 10995

NASDAQ looks a carbon copy of the DOW, 5 ema cross 20sma, converging with 30ema.

RSI 14 above 50

View attachment 10998

ALL ORDINARIES...............ditto DOW / NASDAQ...........not surprising given the ASX follows like a lost puppy.

https://tvc-invdn-com.investing.com/data/tvc_a4047f0dc8620e7f41692d9e6405abb7.png

The S&P 500 ditto too, isnt that WEGIAN on HC an absolute flog ?

View attachment 11001

imo

In fairness, Weigan said 6 months ago (BRN was $2 +/-) that BRN would be 70c middle of the year based on the S&P500 chart and was universally ridiculed for it (myself included) and looks like he was pretty much right.

Last I saw of “Beisha” you were on the CRO forum starting your own charting thread and exclaiming “Beisha is back baby!” Each time you’d post bullish charts / sentiments it would dump hard a few days later and now it’s at 1c so…

A few months ago I decided to stop ignoring all the “downrmapers” (alternate views) and have been selling small parcels on the way down after not selling a share for 4+ years. Thankfully I did as I’m now in the position to buy back in, near the bottom, and close to double my initial holding because of it, which is great because I’m investing in BRN for the long term.
One thing I’ve learned the hard way is anytime someone randomly posts bullish charts it’s likely bullshit.

 

[BEISHA]

In fairness, Weigan said 6 months ago (BRN was $2 +/-) that BRN would be 70c middle of the year based on the S&P500 chart and was universally ridiculed for it (myself included) and looks like he was pretty much right.

Last I saw of “Beisha” you were on the CRO forum with your own charting thread exclaiming “Beisha is back baby!” with a bullish sentiment at 9-10c, a few days later it dumped hard and now it’s at 1c so…

A few months ago I decided to stop ignoring all the “downrmapers” (alternate views) and have been selling small parcels on the way down after not selling a share for 4+ years. Thankfully I did as I’m in now the position to buy back in at the bottom and close to double my initial holding because of it which is great because I’m with BRN for the long haul.
One thing I’ve learned the hard way is anything someone randomly posts bullish charts it’s likely bullshit.

I have followed Weigan footsteps for a while now, he has made alot more poor calls than good ones i can assure you, over a number of stocks.......he is a loose unit and a dangerous one at that.

As for CRO, when they were 9 - 10c, the TA was looking bullish , however, sometimes TA doesnt match FA, cause clearly something was wrong there, plus pure BNPL plays were getting squeazed by the big banks introducing their own BNPL schemes.

Did you notice my post when i advised that CRO sp broke long term support at 8c and that it could drop to 4c or lower ?

And what happened ?

My SL tapped me out at 7c, was rather happy to take the 20% loss and move on.........shit happens, you dont win them all.

Anyway, that is past history, this is the now and this is the BRN thread , i dont bullshit, i call how i see it BULL and BEAR, nor am i a random either, i am a long term investor with coy whos FA is on point like BRN

Take a chill pill pal.,,,,,,,,,,,,,your negative comments is like water off a ducks back for me.

imo

 

[BEISHA]

Hi All

Unfortunately, what looked to be a promising move ( blue bubble ) ended up being a dead cat bounce, currently SP back to a double bottom 80.50, really hoping this is a accumulation phase, cause if this level doesnt hold, then 70 / 61 support levels comes to play.

The weekly RSI 14 has dropped below 50 which is not ideal.

Continued weakness with the DOW is putting pressure on just about every stock on my watch list , tonight will be revealing as CPI and inflation numbers will be crunched, if inflation doesnt show any weakness and is still rising, then there is a big chance that another .75% interest rate hike may be applied, of course that may be tempered if the CPI takes a dive.

Fine line between controlling inflation without hitting it with a blunt stick and going into recession, thats where the markets are at.

Wait and see approach ATM.

imo

 

[BEISHA]

Hi All

View attachment 11183
Unfortunately, what looked to be a promising move ( blue bubble ) ended up being a dead cat bounce, currently SP back to a double bottom 80.50, really hoping this is a accumulation phase, cause if this level doesnt hold, then 70 / 61 support levels comes to play.

The weekly RSI 14 has dropped below 50 which is not ideal.

Continued weakness with the DOW is putting pressure on just about every stock on my watch list , tonight will be revealing as CPI and inflation numbers will be crunched, if inflation doesnt show any weakness and is still rising, then there is a big chance that another .75% interest rate hike may be applied, of course that may be tempered if the CPI takes a dive.

Fine line between controlling inflation without hitting it with a blunt stick and going into recession, thats where the markets are at.

Wait and see approach ATM.

imo

Hi All

Following on from my previous post, blue bubble showing good signs of accumulation with all the emas flattening out and a triple bottom 79.79 formation playing out, suggesting that BRN SP may have found a bottom.

RSI 14 looks to have found support at over sold 29 and now the trend is up.

For a change of trend to be confirmed, an initial break of the 61 fib resistance at (91.34 ) needs to enact, followed by breaking the $1 resistance there after.

MACRO WISE.

DOW CHART

ABC correction minor sub wave 4 down looks complete, with a very good set of data results Friday night giving it a nice boost of 600pts up, so hopefully minor sub wave 5 up follows from there .

As you can see, all EMAs are flattening out nicely, including the RSI 14 indicator

Encouraging signs.

NASDAQ CHART

Is that yellow arrow pointing to the development of minor sub wave 3 up, with a target of ( 12598 ) ?

Once again, EMAs flattening out, with the RSI 14 looking primed to break that 50 line.

Encouraging signs of a trend change.


CONCLUSION.

MACRO forces short term wise look stable to slight bull, which should give BRN more wind in it sails starting next week.

My fingers are getting itchy to press the BUY button in my new SMSF SUPER FUND accordingly.


imo

 

[BEISHA]

Hi All

View attachment 11570

Following on from my previous post, blue bubble showing good signs of accumulation with all the emas flattening out and a triple bottom 79.79 formation playing out, suggesting that BRN SP may have found a bottom.

RSI 14 looks to have found support at over sold 29 and now the trend is up.

For a change of trend to be confirmed, an initial break of the 61 fib resistance at (91.34 ) needs to enact, followed by breaking the $1 resistance there after.

MACRO WISE.

View attachment 11572

DOW CHART

ABC correction minor sub wave 4 down looks complete, with a very good set of data results Friday night giving it a nice boost of 600pts up, so hopefully minor sub wave 5 up follows from there .

As you can see, all EMAs are flattening out nicely, including the RSI 14 indicator

Encouraging signs.

View attachment 11573

NASDAQ CHART

Is that yellow arrow pointing to the development of minor sub wave 3 up, with a target of ( 12598 ) ?

Once again, EMAs flattening out, with the RSI 14 looking primed to break that 50 line.

Encouraging signs of a trend change.


CONCLUSION.

MACRO forces short term wise look stable to slight bull, which should give BRN more wind in it sails starting next week.

My fingers are getting itchy to press the BUY button in my new SMSF SUPER FUND accordingly.


imo

BRN has had a great run from 80 - $1, but in doing that, has completed 5 minor waves to complete sub wave 1 up, which means ABC correction sub wave 2 down follows next, assuming of course my wave count is on the money.....

A few red flags to support my theory that a down trend is imminent according to the hourly chart

a) Top red arrow pointing to a wick , demonstrating a struggle to get past the strong resistance at $1

b) 5 ema looking like its about to bend over

c) RSI 14 hit the over bought level at 86 ( anything over 70 is over bought ), it achieved that same level back on the 6/7/22 and you can see what happened there.

d) The diagonal red line that aligns with the peak of SP is displaying lower highs.

Wave 2 downs normally attracts the 50/61 fib ( 90 /88 ), there after, sub wave 3 up follows which should eclipse the previous high of 101.71 by a fair way, in Elliott wave terms, this is the longest and strongest of the 5 wave movement, so this is useful to know with the upcoming quarterly and not one to be sitting on the sidelines.

Unfortunately i have missed this current run up ( shit happens ), but i will be watching carefully for when sub wave 2 down completes, then I will be in like flyn.

imo

 

[BEISHA]

View attachment 11834

BRN has had a great run from 80 - $1, but in doing that, has completed 5 minor waves to complete sub wave 1 up, which means ABC correction sub wave 2 down follows next, assuming of course my wave count is on the money.....

A few red flags to support my theory that a down trend is imminent according to the hourly chart

a) Top red arrow pointing to a wick , demonstrating a struggle to get past the strong resistance at $1

b) 5 ema looking like its about to bend over

c) RSI 14 hit the over bought level at 86 ( anything over 70 is over bought ), it achieved that same level back on the 6/7/22 and you can see what happened there.

d) The diagonal red line that aligns with the peak of SP is displaying lower highs.

Wave 2 downs normally attracts the 50/61 fib ( 90 /88 ), there after, sub wave 3 up follows which should eclipse the previous high of 101.71 by a fair way, in Elliott wave terms, this is the longest and strongest of the 5 wave movement, so this is useful to know with the upcoming quarterly and not one to be sitting on the sidelines.

Unfortunately i have missed this current run up ( shit happens ), but i will be watching carefully for when sub wave 2 down completes, then I will be in like flyn.

imo

Going to be really interesting to see if my analysis stands up to a super dooper MACRO last night.

DOW up 750pts and the NASDAQ up 330pts...........

The earnings data didnt disappoint.

imo

 

[buena suerte :-)]

Anyone seen our resident "rocket man" morning @wilzy123

 

[BEISHA]

Going to be really interesting to see if my analysis stands up to a super dooper MACRO last night.

DOW up 750pts and the NASDAQ up 330pts...........

The earnings data didnt disappoint.

imo

Mr Market pulled my pants down today..............

Isnt it amazing what a bit of positive sentiment does for a stock ?

Or is it FOMO ?

Either way , good volume and GAP up ( red arrow ) today to smash past that strong resistance @$1 and in doing so, broke the symmetrical triangle pattern too. .......didnt see that coming.

Has it got any more juice left ?

a) RSI 14 @ 66 on the daily chart is technically not over bought.......

b) However, SP is miles in front of the upper bollie band.........

c) Got some pretty strong resistance up above ......

HOURLY CHART

a) Triple top 114 ( upper green bubble )

b ) RSI 14 hit over bought 87 which is huge

The law of probability suggests its due for a pullback to challenge the support at $1 ( which was resistance until today ) and close the gap.

But what would i know, you guys be the judge, ........i dont want my pants pulled down again !!


imo