Brainchip Holdings (ASX:BRN) Bullish Trend

Brainchip Holdings (ASX:BRN) Bullish Trend

Brainchip Holdings (ASX:BRN) Bullish Trend

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 0.19.

The projected upper bound is: 0.26.

The projected lower bound is: 0.21.

The projected closing price is: 0.24.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candles. During the past 50 bars, there have been 10 white candles and 31 black candles for a net of 21 black candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Separating lines occurred. If the lines occur during an uptrend (which appears to be the case with BRAINCHIP FPO) and the first line is black and the second is white (which is not the case with BRAINCHIP FPO) then this suggests that the uptrend should continue.

If the separating lines occur during a downtrend and the first line is white and the second is black (which is the case with BRAINCHIP FPO) then this suggests that the downtrend should continue.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 68.7500. This is not an overbought or oversold reading. The last signal was a buy 11 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 72.80. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 72 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 129.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 9 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 7 period(s) ago.

Rex Takasugi – TD Profile

BRAINCHIP FPO closed down -0.010 at 0.235. Volume was 555% above average (trending) and Bollinger Bands were 198% wider than normal.

Open High Low Close Volume___
0.240 0.240 0.210 0.235 11,231,516

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 0.19 0.18 0.21
Volatility: 132 96 87
Volume: 5,419,497 2,015,887 1,844,369

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

BRAINCHIP FPO is currently 11.9% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect moderate flows of volume into BRN.AX (mildly bullish). Our trend forecasting oscillators are currently bullish on BRN.AX and have had this outlook for the last 3 periods. Our momentum oscillator is currently indicating that BRN.AX is currently in an overbought condition.

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