Technical Analysis

[Deleted member 118]

Any announcement would do me, the silence is deafening. Damn those NDAs

 

[Deleted member 118]

Will the SP carry on falling until we get some good news? As it’s just relentless since the excitement of the Mercedes news. At this rate we will be back down to where we were before it came to light.

 

[Chilling]

Will the SP carry on falling until we get some good news? As it’s just relentless since the excitement of the Mercedes news. At this rate we will be back down to where we were before it came to light.

Yes it will we need good news.

 

[Deleted member 118]

Yes it will we need good news.

Yes something material would be appreciated.

 

[Dang Son]

Candle pattern Harami cross formed today and is bullish, only confirmed when price moves higher

 

[YLJ]

For anyone who has been following my flow of thoughts... BRN has been consolidating around the above-mentioned level, which is good. Unfortunately, it has shown relative weakness against the bounce in the Nasdaq which closed above its 5-week SMA last week for the first time since the acceleration of the decline. This provided a platform for quite a few nice swing trades this week across other stocks, but BRN has lagged.
My concern is that the IXIC (as well as NDX & Futures) are now approaching resistance. If it is sold down again, there is IMHO a chance that BRN sees another leg down, which is why I continue to wait with challenging patience for my top-up. I still consider the possibility that a larger and more symmetrical right shoulder could be formed. Until this point, Classical Charting principles have been remarkably accurate and have kept me out of a lot of trouble. Some news flow would be most welcome, despite my desire to add to my holdings at a level I feel holds little chance of
being breached to the downside...
GLTA
View attachment 3031
View attachment 3032

It is nice to see BRN has been hovering around this previously mentioned "support" level of the previous high in 2020 at 0.97.
The daily chart shows a rather arguable Falling Wedge, but one I will watch. The Falling Wedge pattern itself was originally seen as a Reversal Pattern (forming after an extended downtrend and vise-versa for a Rising Wedge) but has been used for a long time by some of the world’s best traders as a continuation pattern, as would be the case here if it were to fulfill its implications.
It is worthy here to quote Edwards and Magee on this pattern:

That seems to be the case here.
Note as well, the 5-week SMA which I have mentioned many times. It has held price down and is being tested now again but showing a little more resilience.
I will not long this here, as I am not desperate for an entry. I hope this sideways action will form into some smaller tradable pattern in the coming days/weeks. A break on volume of such a pattern coinciding with a return above the 5-week SMA would be reason enough for me to take my top-up if volume confirms.
IF on the other hand, it takes another leg down I will consider going for it anywhere in the vicinity of 0.76c even without any particular validation.
That is something I generally would not do without a serious fundamental bias.
If it blasts off unexpectedly here without me, I will let it go and be happy with my not unsubstantial holding.
Managing my average price carefully is a major priority for me, for my peace of mind and long-term strategy, regardless of my fundamental opinion.
GLTA

 

[RobjHunt]

A nice Tuesday bonus.

More to follow, over!

Pantene

 

[xdragon]

View attachment 3470
It is nice to see BRN has been hovering around this previously mentioned "support" level of the previous high in 2020 at 0.97.
The daily chart shows a rather arguable Falling Wedge, but one I will watch. The Falling Wedge pattern itself was originally seen as a Reversal Pattern (forming after an extended downtrend and vise-versa for a Rising Wedge) but has been used for a long time by some of the world’s best traders as a continuation pattern, as would be the case here if it were to fulfill its implications.
It is worthy here to quote Edwards and Magee on this pattern:
View attachment 3471

That seems to be the case here.
Note as well, the 5-week SMA which I have mentioned many times. It has held price down and is being tested now again but showing a little more resilience.
I will not long this here, as I am not desperate for an entry. I hope this sideways action will form into some smaller tradable pattern in the coming days/weeks. A break on volume of such a pattern coinciding with a return above the 5-week SMA would be reason enough for me to take my top-up if volume confirms.
IF on the other hand, it takes another leg down I will consider going for it anywhere in the vicinity of 0.76c even without any particular validation.
That is something I generally would not do without a serious fundamental bias.
If it blasts off unexpectedly here without me, I will let it go and be happy with my not unsubstantial holding.
Managing my average price carefully is a major priority for me, for my peace of mind and long-term strategy, regardless of my fundamental opinion.
GLTA

Thanks for the update and the knowledge on ‘falling wedge’.

I was tempted to top up yesterday when price fell below 90c but didn’t see enough volume to support the move. I guess we’ll just need to be patient here until solid signal is evidenced.

 

[TheFunkMachine]

Long way to go, but today ende the first green week since January. That has to count for something

 

[Falling Knife]

View attachment 3470
It is nice to see BRN has been hovering around this previously mentioned "support" level of the previous high in 2020 at 0.97.
The daily chart shows a rather arguable Falling Wedge, but one I will watch. The Falling Wedge pattern itself was originally seen as a Reversal Pattern (forming after an extended downtrend and vise-versa for a Rising Wedge) but has been used for a long time by some of the world’s best traders as a continuation pattern, as would be the case here if it were to fulfill its implications.
It is worthy here to quote Edwards and Magee on this pattern:
View attachment 3471

That seems to be the case here.
Note as well, the 5-week SMA which I have mentioned many times. It has held price down and is being tested now again but showing a little more resilience.
I will not long this here, as I am not desperate for an entry. I hope this sideways action will form into some smaller tradable pattern in the coming days/weeks. A break on volume of such a pattern coinciding with a return above the 5-week SMA would be reason enough for me to take my top-up if volume confirms.
IF on the other hand, it takes another leg down I will consider going for it anywhere in the vicinity of 0.76c even without any particular validation.
That is something I generally would not do without a serious fundamental bias.
If it blasts off unexpectedly here without me, I will let it go and be happy with my not unsubstantial holding.
Managing my average price carefully is a major priority for me, for my peace of mind and long-term strategy, regardless of my fundamental opinion.
GLTA

Thanks for this summary YLJ
I am hoping the falling wedge breaks upward and resume trend as opposed to drifting.

The MACD is showing signs of growing positivity.

Even though the price has fallen the bears appear to be losing their momentum, the bulls have been gaining theirs since March 23rd.
The graphic below shows price points during the divergence that is occurring in the MACD.
This an hourly view over that period.

This fall in 'bear energy' is supported by YAK52s shorts uptake analysis in the discussion thread:
The bears are becoming less prevalent and the bulls are growing in confidence.

Here is what a MACD tells us:
Bears have been in control but a positive cross over is on the cards with this trend in play.

Here is the hourly view over the last 2 months.

 

[Deleted member 118]

 

[Fastback6666]

Someone wants in and has just starting buying hard in the last 15mins!

Very nice to see.

 

[buena suerte :-)]

Someone wants in and has just starting buying hard in the last 15mins!

Very nice to see.

Almost back to $1.00 keep going !!!

 

[alwaysgreen]

Nice day regardless of where we finish. It seems the shorters have stopped and this is our new base.

If we get an announcement in the next 4 weeks with some decent revenue attached, we could see $2 again. On the flipside, if we don't, I can see us continuing to drift down.

 

[Deleted member 118]

Good start for the week

 

[Ethinvestor]

Well we have a strong support at 0.90-$1.0 and we just had a break out last week.. so with the Q4 etc Iam pretty convinced from now on we just see things going up… with some minor stops..here and there but buy now while you can this low…

 

[Fastback6666]

Some great late buying today, looked like some nice support in BRN today. Hopefully can continue.

 

[Deleted member 118]

 

[Mccabe84]

Is anyone aware if the institutions are still accumulating?

 

[AusEire]

Is anyone aware if the institutions are still accumulating?

I think... I could be wrong but wasn't it @stan9614 who posts the broker data? He may be able to provide a breakdown?