Brainsway (NASDAQ:BWAY) chart suggest bullish action and long term potential

Brainsway (NASDAQ:BWAY) had recent big insider buys around $2 suggesting a positive speculation of something big may be brewing at the company. If BWAY gets $2.75 area and could test low $3’s. On December 13th, the company reported a recent open market purchase of BrainsWay American Depositary Receipts (ADRs) by Yossi Ben Shalom, an independent Director on the Company’s Board. BWAY is currently trading at $2.4.

BWAY Chart

The company has 56.3 months of cash left based on quarterly cash burn of -$2.51M and estimated current cash of $47.1M. This would be a base trade above $2 so that’s the stop, but only on a close, and the goal is 10-20% on the way to $3. BWAY could very well be a possible January effect idea for traders.