Brainchip showing signs that id usually look for for entry/reversals.
Short term scalp idea here.
Sitting and testing r3h (Range 3 high)= the daily range before a 30% up move. This is a short term range of importance.
EMA's crossed on 15 chart (not shown), at important level, and a MSB (market structure break), Pos div on RSI.
Quick technical analysis of ASX:BRN following its rapid rise and subsequent consolidation over the past two months.
In summary:
Indicators are showing that support has been found at ~$0.31 and the .236 fib retracement level / -0.5 schiff resistance level has been tested.
As per BBW, volatility is decreasing which indicates that a breakout may be on the...
Looking at the chart today from BrainChip ( ASX:BRN ) I can see they it has a couple of potential directions from here.
Over the last week or so, the stock has been retreating back from its highs of close to $1.00.
Overall though, I can see 2 possible scenarios.
Scenario A
Holding current levels (which look good considering the 61.8 fib line placement) here...
