Elliott Wave Technical Analysis – Berkshire Hathaway Inc.

BRK-B Elliott Wave Analysis Trading LoungeBerkshire Hathaway Inc., () Daily ChartBRK-B Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave 1 of (5).DIRECTION: Upside in wave (5).DETAILS: Looking for upside into wave (5) as we seem to have bottomed in wave (4) after what appears to be a three wave move. Looking for further upside as we are just below TradingLevel5 at 500$.Berkshire Hathaway Inc., (BRK-B) 1H ChartBRK-B Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave 1 of (5).DIRECTION: Pullback in wave 2.DETAILS: Looking for completion in wave 2 of (5), as we seem to be missing at least another leg lower after what appears to be a three wave move in wave 1. We could see a pullback around 465$.This analysis of Berkshire Hathaway Inc., (BRK-B) focuses on both the daily and 1-hour charts, using the Elliott Wave Theory to assess current market trends and forecast future price movements.* BRK-B Elliott Wave Technical Analysis – Daily Chart*On the daily chart, BRK-B is expected to continue rising as it begins wave (5) after what looks like a completed three-wave corrective structure in wave (4). The stock is positioned just below the TradingLevel5 at $500, which is expected to act as resistance. Breaking through this level would confirm further upside potential into wave (5).* BRK-B Elliott Wave Technical Analysis – 1H Chart*On the 1-hour chart, BRK-B is in the process of completing wave 2 of wave (5). There appears to be another leg down missing before this wave is complete, suggesting that wave 2 is still unfolding. A support level around $465 could provide a potential turning point, where the stock may find a bottom before resuming the upward movement in wave 3 of (5).Technical Analyst : Alessio BarrettaMore By This Author: