fortune_00

$BRK looking for a healthy correction?

Short
BATS:BRK.B   Berkshire Hathaway Inc. New
Price got heavily rejected twice at around 422 mark, with lower highs and lower lows being printed on the weekly chart. On a higher timeframe, the price has bounced again from an upper resistance. Not any meaningful bearish divergences aside a soft triple bearish divergence on the monthly chart.

In the scenario of a pullback, price could bounce from the 370 mark, where several important support levels are present: fibonacci level 0.618 of the pullback, trendline support, EMA 20 in monthly, volume/demand zone and previous resistance mark 360, which needs to be tested.

Current price: 408
Target price: 370
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.