BRK.B Elliott Wave Analysis Trading Lounge Daily Chart, 12 February 24.
Berkshire Hathaway Inc., (BRK.B) Daily Chart.
BRK.B Elliott Wave technical analysis
Function: Trend.
Mode: Impulse.
Structure: Motive.
Position: Minor wave 5 of (1).
Direction: Upside to top in wave {iii}.
Details: Looking for upside into wave {iii} of 5 knowing equality of 5 vs. 1, which is often times a well respected Fib ratio between waves ones and fives, stands at 408$. Looking for a potential wave {iii} of 5 to top there, to then start seeing the trend slowing down.
BRK.B Elliott Wave Analysis Trading Lounge 4Hr Chart, 12 February 24.
Berkshire Hathaway Inc. (BRK.B) 4Hr Chart
BRK.B Elliott Wave technical analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave (iii) of {iii}.
Direction: Upside into wave v of (iii).
Details: We seem to be in the final stages of wave iv of (iii), therefore we are expecting further upside into wave (iii) to then expect a series of threes and fours.
Welcome to our BRK.B Elliott Wave Analysis Trading Lounge, where we provide detailed insights into Berkshire Hathaway Inc. (BRK.B) using Elliott Wave Technical Analysis. As of the Daily Chart on 12th February 2024, we delve into crucial developments shaping the market.
* BRK.B Elliott Wave Technical Analysis – Daily Chart*
In terms of wave dynamics, we identify a prevailing impulse function with a motive structure. The current position is in Minor wave 5 of (1), indicating an upside trajectory towards the top in wave {iii}. Our focus is on the anticipated upside movement into wave {iii} of 5, with the equality of wave 5 versus wave 1 standing at $408, a significant Fib ratio often respected between waves ones and fives. We anticipate a potential top in wave {iii} of 5 around this level, signaling a slowdown in the trend.
* BRK.B Elliott Wave Technical Analysis – 4Hr Chart*
Here, the wave function maintains its impulsive nature with a motive structure. The current position is in Wave (iii) of {iii}, suggesting further upside into wave v of (iii). As we approach the final stages of wave iv of (iii), we anticipate additional upside momentum into wave (iii), followed by a series of corrective threes and fours.
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