BerkShire Hathaway maybe oversold, Support from 100 day WMA & previous high
I am not a fan of EW counts, however it seems that price is going to make the 5th up wave ^_^ Base on channel projection, somewhere around March 2017 - April 2018, topping could happen Disclaimer: This is solely for educational purpose only, not an advice to solicit you to trade
Great potential (history for reference)... not much to say
Even Buffett himself is not going to tell you that his company is immuned to the trials and tribulations of the market cycle. Because it is not.
/// ->Yes the great body benefited (immediately) with the election of the new president of the USA (mister TRUMP) is the sector dedicated to insurers // an example of this we can clearly see the graphs of Berkshire Hathaway (/ > Our friend;) Warren Buffett) /:)/
Post Trump's election BRK has broken out to the upside but my Elliott wave count suggests that it may not have much further to go with some upside resistance provided by a combination of the 1.618 Fib extension, the parallel channel and a Andrews Pitchfork median line. It all suggests to me that the post election market euphoria may be short lived.
Buffett certainly enjoying the Trump win...wow.
On this moment we are in support zone. This should be nice opportunity to go long in that stock. Resistance is somewhere around 150.50$. Stop Loss should be set below 142.50$. This will be nice swing :)
Berkshire Hathaway B class share pulling back to nice uptrend support going back to 2011
Price > 221.300 --> Shortterm Buy-Signal --> TP 230.000 Price > 230.000 --> Longterm Buy-Signal
XLF WEAKNESS / BRK.B H&S TOP Straight-forward H&S top.
1. BRK.B has made a very clear head and shoulders 2. The fractal pattern of Sep 15 to Jan 16 fits quite well, and even offers two touches to 61.8% support 3. The company is largely in defensives, hence great upside is unlikely. The Summer S&P dip will be reflected here. 4. Warren and Charlie, God bless them, are not getting any younger. Now is the time for...
Wait for it to break the neckline at 140 with strong volume then short
Berkshire is a diversified group that is a representation of the economy in general. It broke the orange channel. If it broke through the next yellow line it would go for the upper yellow line