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
Tradinglounge BRK.B Daily Chart: Riding the Wave of Positivity
Analyzing the daily chart, BRK.B exhibits a compelling Elliott Wave structure.
FUNCTION: Trend
MODE: Impulse
STRUCTURE: Motive
POSITION: Minor wave 5 of (1).
DIRECTION: Upside to top in wave {iii}.
DETAILS: Details reveal an exciting prospect of an upside move into wave {iii} of 5. A noteworthy observation is the equality between waves 5 and 1, a respected Fib ratio that often positions itself around $408. This level becomes crucial as it marks a potential top for wave {iii} of 5, initiating a slowdown in the prevailing trend.
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.
The chart analysis suggests that the market is in the final stages of wave iv of (iii), setting the stage for further upward movements. Investors can expect an extension of the positive trend into wave (iii), followed by a sequence of threes and fours.
Technical Analyst: Alessio Barretta
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See Previous: The Procter & Gamble Company (PG)
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.