BRK.B Elliott Wave Breakdown: Double Top Pullback – Healthy Correction or Trend Shift?
BRK.B just hit a double top at 516, pulling back to 491 amid Fed jitters. Is this the end of Wave 5's rally, or just a healthy breather?
Let's dive into the chart for Dec 2025 insights:
Primary Count Overview: We're in Wave 5 (iii) of a bullish impulse – from 473 low, it rallied to 516, now retracing channel lower rail ~485. No overlap rule violation here: Wave 4's contracting triangle (ending at 455) allows minor intrusion into Wave 1 territory (491 high), keeping the 5-wave advance intact.
- Double Top Impact: This M-pattern signals short-term bearish reversal, targeting 480-496 support on neckline break. Volume's spiking on downside, RSI at 39 screams oversold – expect a 5-7% dip, but it's not derailing the bull trend in Elliott structure.
- Key Levels to Watch:
-- Support: 480-490 (green zone, SMA120 hold);
-- Resistance: 528 (year-end target, +7% upside).
Alternative Count: Break 455 + 5M volume (larger Wave 4 zigzag to 430-440, 25% odds from Fed 12/18).
Outlook & Strategy: 65% chance of bounce to 510-528 by EOY, fueled by $190B cash hoard and P/B 1.52 value. Long-term: Break 542 unlocks 580-600 Q1 2026. Tip: Buy dips at 478, stop below 455; scale out at 528 for profits.
Call to Action: What’s your BRK.B play? Drop comments below – like, subscribe for weekly updates! #StockAnalysis
Disclaimer: This analysis is for educational purposes only and is not investment advice. Please do your own research (DYOR) before making any trading decisions.
BRK.B just hit a double top at 516, pulling back to 491 amid Fed jitters. Is this the end of Wave 5's rally, or just a healthy breather?
Let's dive into the chart for Dec 2025 insights:
Primary Count Overview: We're in Wave 5 (iii) of a bullish impulse – from 473 low, it rallied to 516, now retracing channel lower rail ~485. No overlap rule violation here: Wave 4's contracting triangle (ending at 455) allows minor intrusion into Wave 1 territory (491 high), keeping the 5-wave advance intact.
- Double Top Impact: This M-pattern signals short-term bearish reversal, targeting 480-496 support on neckline break. Volume's spiking on downside, RSI at 39 screams oversold – expect a 5-7% dip, but it's not derailing the bull trend in Elliott structure.
- Key Levels to Watch:
-- Support: 480-490 (green zone, SMA120 hold);
-- Resistance: 528 (year-end target, +7% upside).
Alternative Count: Break 455 + 5M volume (larger Wave 4 zigzag to 430-440, 25% odds from Fed 12/18).
Outlook & Strategy: 65% chance of bounce to 510-528 by EOY, fueled by $190B cash hoard and P/B 1.52 value. Long-term: Break 542 unlocks 580-600 Q1 2026. Tip: Buy dips at 478, stop below 455; scale out at 528 for profits.
Call to Action: What’s your BRK.B play? Drop comments below – like, subscribe for weekly updates! #StockAnalysis
Disclaimer: This analysis is for educational purposes only and is not investment advice. Please do your own research (DYOR) before making any trading decisions.
“Discussion is welcome. Respect all views — markets are dynamic.”
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
“Discussion is welcome. Respect all views — markets are dynamic.”
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.