Technical Analysis
- Thread starter Vojnovic
- Start date
Dhm
Regular
I am not an expert at TA but I believe in it and am guided by it. I try and seek out experts, especially medium term, not over a day or two.
The best guy I follow is Chris Ciovacco and he is brilliant at picking big picture trends in the Dow, S&P and Nasdaq. He publishes a weekly video and this week’s is well worth watching. It is long but I put it on 1.5 view speed.
Whilst this won’t guide our BRN purchases, it will help with potential overall market mood. Cheers
The best guy I follow is Chris Ciovacco and he is brilliant at picking big picture trends in the Dow, S&P and Nasdaq. He publishes a weekly video and this week’s is well worth watching. It is long but I put it on 1.5 view speed.
Whilst this won’t guide our BRN purchases, it will help with potential overall market mood. Cheers
Deena
Regular
Most of the best are here now McHale. Glad you could join us!
TheFunkMachine
seeds have the potential to become trees.
Akida Ballista
POWERMAD
Emerged
OK today's update still staying in the pitchfork should be close to hitting some support in the blue range as well as hitting the MACD i believe that we will have a green day tomorrow but i don't think by much any good news in the next 2 days will test the $1.89 and change the TA in this chart but time will tell what happens next.
YLJ
Swing/Position Trader
Not much I have not mentioned already elsewhere, but in honour of the new website, and to support this chart thread, here is a brief overview of my perspective on the recent and current chart situation.
The short version is that I believe we are currently in no man's land in terms of direction and I would not be trading in this area.
The general market, and Nasdaq in particular, have clearly had their hand in halting the rise and bringing about the current consolidation.
Much like the Nasdaq, the direction remains to be resolved. There is an arguable Inverse H&S shoulders in development that although visible to the keen eye on the daily chart, is more evident on a 4 or 2-hour chart. This too will complete and be resolved with a break in either direction of the current key levels seen on the chart.
As a long-term holder, I am not looking for a trade here, but I will consider averaging up based on how this resolves itself.
An announcement to take us out of sync with the market would be most welcome too, but I never bet on timing those.
All IMHO and GTLA
The short version is that I believe we are currently in no man's land in terms of direction and I would not be trading in this area.
The general market, and Nasdaq in particular, have clearly had their hand in halting the rise and bringing about the current consolidation.
Much like the Nasdaq, the direction remains to be resolved. There is an arguable Inverse H&S shoulders in development that although visible to the keen eye on the daily chart, is more evident on a 4 or 2-hour chart. This too will complete and be resolved with a break in either direction of the current key levels seen on the chart.
As a long-term holder, I am not looking for a trade here, but I will consider averaging up based on how this resolves itself.
An announcement to take us out of sync with the market would be most welcome too, but I never bet on timing those.
All IMHO and GTLA
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Fullmoonfever
Top 20
Seeing a TA thread...quick couple of hourly thoughts while watching the action in between work
Like to see a Kumo break obviously & poss retest of its supp then up move.
Like others have posted, concur...been a tightening on spread and vol so if Tri comes into confirmation it can break either way given more of a Symmetrical Tri rather than a bullish bias Ascending Tri.
Seeing the resist low - mid 1.70s and supp high 1.50s - 1.60.
Like to see a Kumo break obviously & poss retest of its supp then up move.
Like others have posted, concur...been a tightening on spread and vol so if Tri comes into confirmation it can break either way given more of a Symmetrical Tri rather than a bullish bias Ascending Tri.
Seeing the resist low - mid 1.70s and supp high 1.50s - 1.60.
Fullmoonfever
Top 20
Seeing a TA thread...quick couple of hourly thoughts while watching the action in between work
Like to see a Kumo break obviously & poss retest of its supp then up move.
Like others have posted, concur...been a tightening on spread and vol so if Tri comes into confirmation it can break either way given more of a Symmetrical Tri rather than a bullish bias Ascending Tri.
Seeing the resist low - mid 1.70s and supp high 1.50s - 1.60.
View attachment 555
View attachment 556
Not much time but quick snip and drop with the Hrly getting a minor break into the horizontal resist mentioned prev & now slight pullback to doji / indecision as mkt decides. See if wants to try test supp top of Kumo round ~ 1.70 again.
Also a simple daily with the Tri break. Really want to see a close in the upper half of todays bar IMO to push back against the supply that came in.
No additional comments on chart as yet.
YLJ
Swing/Position Trader
I'm am always cautious of Symmetrical Triangles, as in contrast to patterns
with horizontal breakout levels, they tend to morph.
Any which way I try to construct one on this chart, and on any time frame,
(some are much more questionable in their validity from a textbook point of view),
price has worked its way right into the apex of the triangle. Valid breakouts from
Sym Triangles generally take place around 2/3rds of the way into the pattern...
Failed again to close above (or below) any meaningful weekly or daily levels...
1hr chart below is what I think was the most valid Triangle construct, though
none are of particular relevance to me, as above...
with horizontal breakout levels, they tend to morph.
Any which way I try to construct one on this chart, and on any time frame,
(some are much more questionable in their validity from a textbook point of view),
price has worked its way right into the apex of the triangle. Valid breakouts from
Sym Triangles generally take place around 2/3rds of the way into the pattern...
Failed again to close above (or below) any meaningful weekly or daily levels...
1hr chart below is what I think was the most valid Triangle construct, though
none are of particular relevance to me, as above...
Fullmoonfever
Top 20
Seeing a TA thread...quick couple of hourly thoughts while watching the action in between work
Like to see a Kumo break obviously & poss retest of its supp then up move.
Like others have posted, concur...been a tightening on spread and vol so if Tri comes into confirmation it can break either way given more of a Symmetrical Tri rather than a bullish bias Ascending Tri.
Seeing the resist low - mid 1.70s and supp high 1.50s - 1.60.
View attachment 555
View attachment 556
Ichimoku hourly update & just a simple daily thoughts.
Agree with @YLJ thoughts re Sym Tris having the 2/3rd break being a general textbook rule of thumb but as we know, mkt not always textbook and overshoots and also patterns fail...which is the case of my prev Tri thinking...now appears looking for ranging at the mo if can hold some supp in here.
Enjoy the week all.
YLJ
Swing/Position Trader
US markets (Nasdaq in particular) came strongly off their 5-week SMA areas to the downside.
The possibility of another leg down in the markets over the coming weeks seems a lot more
possible to me now... This will likely put pressure on BRN (save for some company-specific news)
& will be watching how it holds the weekly levels I mentioned previously if that takes place...
I personally won't complain if a "bargain" wants to present itself...
Could well be wrong, but I certainly will be cautious with my entries this week.
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TheFunkMachine
seeds have the potential to become trees.
Does this look like a potential double bottom in play? I think so.
We need to hold $1.33 to confirm this as a DB but if we can I would expect a move back north to retest ATH.
Some news would be great right now Sean!
I was looking at the charts yesterday thinking a double bottom was at play... let's see how it goes!
Vojnovic
Regular
I too was hoping this is a bouble bottom in the making. Normaly, however, DBs are reversal patterns (after a longer downtrend), while I'm hoping for a continuation pattern. So maybe we'll see a Penant form out of this price action and then take off again.Does this look like a potential double bottom in play? I think so.
We need to hold $1.33 to confirm this as a DB but if we can I would expect a move back north to retest ATH.
Some news would be great right now Sean!
We are now back at the historic trendline and can see how it was powerfully supported, so I am hopefull we will maintain a position above.
D
Deleted member 118
Guest
BRN held up nicely today compared to the 3% fall overnight on the Nasdaq.
xdragon
Member
I think we need to see more candles and volume to confirm. It’s just too early to say I think. Some positive news would definitely help.Does this look like a potential double bottom in play? I think so.
We need to hold $1.33 to confirm this as a DB but if we can I would expect a move back north to retest ATH.
Some news would be great right now Sean!
JDelekto
Regular
Judging by past announcements, they may be providing an annual report for the ASX before the end of this month. From there, we have the quarterly in March and of course, the ASX 200 quarterly rebalance for which it seems BrainChip is still on track.
I'm hoping that before the end of the 2nd quarter, some of the EAP customers will make themselves known, but I suspect that won't happen until their products are on the assembly line and ready to show to the public --although that may not apply to anything potentially related to matters of government secrecy.
While their inability to share information about several potential customers is frustrating, I would rather they gather a loyal customer base through trust.
xdragon
Member
True. Fundamentals are looking stronger than ever. All we need is patience. Sean did mention in his recent investor presentation they’re discussing with their EAPs for more disclosures. So hopefully we’ll see a couple more major logos on the EAP slide soon.
D
Deleted member 118
Guest
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