Berkshire Hathaway Inc, (BRK.B) Daily Chart.
BRK.B Elliott Wave technical analysis
Function: Trend.
Mode: Impulse.
Tructure: Motive.
Position: Minor wave 5 of (1).
Direction: Top in wave 5.
Details: Watching Minor wave 5 unfolding in a five wave sequence, as we currently seem to be in wave {iii} of 5. We could expect 400$ to act as resistance.
Berkshire Hathaway Inc. (BRK.B) 4Hr Chart.
BRK.B Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Postios: Wave {iii} of 5.
Direction: Extension into wave (iii) of {iii}.
Details: We seem to be in a wave (iii) of {iii} as the pullback that occurred around 380$ seem to be smaller than what is labelled as wave {ii} and therefore I do identify it as a lower degree correction.
Technical Analyst: Alessio Barretta.
Risk Disclaimer - This is not financial advice.
The material does not contain (and should not be construed as containing) personal financial or investment advice or other recommendations, or an offer of, or solicitation for, a transaction in any financial instrument. The information does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. TradingLounge accepts no responsibility for any use that may be made of these comments and for any consequences that result.
TradingLounge™ uses a range of technical analysis tools, such as Volume Analysis, TradingLevels, Elliott Wave, software, and fundamental analysis as well as economic forecasts aimed at minimising the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership and social media platforms has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk.
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD under pressure below 1.0600 as mood sours
EUR/USD stays under selling pressure and trades below 1.0600 on Tuesday. The US Dollar finds fresh haven demand on escalating geopolitical tensions amid reports that Kremlin is threatening a nuclear response on Ukraine's use of Western missiles against Russia.
GBP/USD stays below 1.2650 after BoE Governor Bailey testimony
GBP/USD trades in the red below 1.2650 on Tuesday. Although BoE Governor Bailey said a gradual approach to removing policy restraint will help them observe risks to the inflation outlook, the sour mood doesn't allow the pair to gain traction.
Gold extends recovery toward $2,640 as geopolitical risks intensify
Gold price builds on Monday's gains and rises toward $2,640 as risk-aversion grips markets amid intensifying geopolitical tensions between Russia and Ukraine. Meanwhile, the 10-year US Treasury bond yield is down more than 1% on the day, further supporting XAU/USD.
Canada CPI expected to rise 1.9% in October, bolstering BoC to further ease policy
The Canadian Consumer Price Index is seen ticking higher by 1.9% YoY in October. The Bank of Canada has reduced its policy rate by 125 basis points so far this year. The Canadian Dollar navigates multi-year lows against its American counterpart.
The week ahead: Powell stumps the US stock rally as Bitcoin surges, as we wait Nvidia earnings, UK CPI
The mood music is shifting for the Trump trade. Stocks fell sharply at the end of last week, led by big tech. The S&P 500 was down by more than 2% last week, its weakest performance in 2 months, while the Nasdaq was lower by 3%. The market has now given back half of the post-Trump election win gains.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.