Company Overview: Solis Minerals Limited (ASX: SLM) acquires, explores for, and develops mineral properties, primarily exploring copper, gold, silver, lithium, and iron oxide from 100% owned projects in South America. Mosaic Brands Limited (ASX: MOZ) retails women’s apparel and accessories, operating through a network of 804 stores and online digital department platforms in Australia and New Zealand. BrainChip Holdings Limited (ASX: BRN) develops software and hardware accelerated solutions for artificial intelligence and machine learning applications. This Report covers the Price Action and Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on these stocks.

SLM’s Technical Analysis:

On the daily chart, SLM's price is trading in a falling wedge pattern, signalling a positive trend. Additionally, the RSI (14-period) is forming multiple bottom divergences compared to the price action, providing further support for an upside movement. Prices are trading between the stock's previous peak and trough, which may function as resistance and support levels. Significant support for the stock is located at AUD 0.305, while critical resistance is placed at AUD 0.360.

Daily Technical Chart – SLM

Considering the stock's current price levels forming a descending wedge pattern and technical indicators analysis, a 'Speculative Buy' recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.330 per share as of 20 September 2023. 

MOZ’s Technical Analysis:

While undergoing a downtrend, MOZ's stock price is currently forming multiple bottom divergences compared to the RSI (14-period) near the oversold region, anticipating a potential rebound. Prices are trading below the 21-period and 50-day SMAs, which may function as dynamic resistance levels for the stock; in contrast, the closest round price level could offer sentimental support. Crucial support for the stock is at AUD 0.110, while key resistance is at AUD 0.145.

Daily Technical Chart – MOZ

Considering the stock's current price levels forming multiple bottom divergences and technical indicators analysis, a 'Speculative Buy' recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.130 per share as of 20 September 2023. Mosaic Brands Limited (ASX: MOZ) was last covered in a report dated '13 February 2023'.

BRN’s Technical Analysis:

On the daily chart, though experiencing a downtrend, BRN's price is fluctuating in a descending wedge pattern and approaching the lower band of the pattern, indicating the possibility of a sideways to negative movement. The RSI (14-period) is trading in the oversold region, reinforcing this analysis. Important support for the stock is positioned at AUD 0.160, while key resistance is placed at AUD 0.275.

Daily Technical Chart – BRN

Considering the stock's current price levels forming a falling wedge pattern and technical indicator analysis, a 'Watch' recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.225 per share as of 20 September 2023, down by 10.00%. BrainChip Holdings Limited (ASX: BRN) was last covered in a report dated '19 June 2023'.

Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest, taking into consideration the risk-reward scenario.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: Investment decision should be made depending on an individual’s appetite for upside potential, risks, and any previous holdings. This recommendation is purely based on technical analysis, and fundamental analysis has not been considered in this report.

Note 3: Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.

The reference date for all price data, currency, technical indicators, support, and resistance levels is September 20, 2023. The reference data in this report has been partly sourced from REFINITIV.

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

The Green colour line reflects the 21-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 21-period, prices are currently in a bullish trend (Vice – Versa).

The Blue colour line reflects the 50-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 50-period, prices are currently in a bullish trend (Vice – Versa).

The Orange/ Yellow colour line represents the Trendline.

The Purple colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period), which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status, while a reading of 30 or below suggests an oversold status.

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