BrainChip Holdings Limited Stock Forecast

Big movements in BrainChip Holdings Limited stock price on Thursday moving 20.83% between high and low
(Updated on May 02, 2024)

BRN.AX Signals & Forecast

There are few to no technical positive signals at the moment. The BrainChip Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.294 and $0.329. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 26, 2024, and so far it has fallen -48.98%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for BrainChip Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.225 and $0.205. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, BrainChip Holdings Limited finds support just below today's level at $0.225. If this is broken, then the next support from accumulated volume will be at $0.205 and $0.200.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0500 between high and low, or 20.83%. For the last week, the stock has had daily average volatility of 7.87%.

BrainChip Holdings Limited is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BRN.AX) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect BrainChip Holdings Limited to open at $0.260, and during the day (based on 14 day Average True Range), to move between $0.226 and $0.274, which gives a possible trading interval of +/-$0.0240 (+/-9.61%) up or down from last closing price. If BrainChip Holdings Limited takes out the full calculated possible swing range there will be an estimated 19.23% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.255 (2.00%) than the support at $0.225 (10.00%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is BrainChip Holdings Limited stock A Buy?

The BrainChip Holdings Limited stock holds several negative signals and despite the positive trend, we believe BrainChip Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -3.615 Sell Candidate Downgraded

Predicted Opening Price for BrainChip Holdings Limited of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.