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Berkshire Hathaway - Fall To Continue?

NYSE:BRK.B   Berkshire Hathaway Inc. New
Given the latest sell off it looks like the most famous investment conglomerate BRK.B is less likely to reach its former highs in the near future.
If so, how deep it may fall?

Fundamental indicators:
  • Revenue and Profits - demonstrated consistent long-term earnings growth over the past 10 years except 2020
  • Profit margin - not consistent and varies from 10% to 20%, 2021 was with the highest 28%
  • P/E - 8.4x which is considerably lower than the current S&P500 ratio
  • Liabilities - no problems with debt

Technical Analysis (Elliott Waves):
  • Following the sharp drop since March 2022 it is very likely that impulse wave that was developing since March 2020 has completed with an Ending Diagonal as fifth wave
  • If so, then we are observing the development of a new global correction which may be quite deep, in the range of $160-$240, and lengthy depending on the market sentiment and materialisation of recession risks
  • Currently we can see formation of Double Zig-Zag, the first one has completed in wave W. Second zig-zag is in progress with fully formed wave A, wave B to follow to the upside into the region of $325-$340
  • This correction wave X may last until the next earnings report planned for the beginning of August and if it is not going to reach market expectations the shares may drop further

Although fundamentals are quite good at this stage of the market cycle, Berkshire is doing reshuffle of its portfolio which may impact these fundamental indicators. Let's see what the next report is going to tell us.

What do you think about BRK.B and its short term prospects?
Also let me know if you would like to see other stocks, indices, Forex or Crypto analysed using Elliott Waves .

Thanks

PS this is an update to the previous idea where the scenario suggested another run to update the highs

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