Berkshire Hathaway On The Brink Of Another Breakout
Berkshire Hathaway's stock recently displayed encouraging growth, with a notable bullish surge on August 7th. After reaching its zenith in March 2022, the stock suffered a 28% drop. By October 2022, the stock steadied at $260 and recently made a bullish stride, briefly outdoing its past record. However, this new high was marginal and fleeting, as the stock soon reverted below its former peak.
A build-up of momentum led to this breakout, with the stock's inflection point being the $321 resistance, which then became support.
This pivotal level has consistently posed challenges for the stock, given its proximity to its all-time high. It took 18 months for the stock to muster the courage to challenge this robust resistance.
The stock's recent surge might be attributed to its favorable Q2 earnings report, where it reported earnings of 4.62 against the predicted 3.87. Notably, the daily 20 simple moving average stands slightly under the stock's current $350 price, potentially acting as a vital support.
If the stock maintains this position, it may pave the way for future growth, potentially setting new record highs and establishing a lasting bullish trend.
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A build-up of momentum led to this breakout, with the stock's inflection point being the $321 resistance, which then became support.
This pivotal level has consistently posed challenges for the stock, given its proximity to its all-time high. It took 18 months for the stock to muster the courage to challenge this robust resistance.
The stock's recent surge might be attributed to its favorable Q2 earnings report, where it reported earnings of 4.62 against the predicted 3.87. Notably, the daily 20 simple moving average stands slightly under the stock's current $350 price, potentially acting as a vital support.
If the stock maintains this position, it may pave the way for future growth, potentially setting new record highs and establishing a lasting bullish trend.
If you enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
