Berkshire Hathaway Inc. (BRK.B) Elliott Wave technical analysis [Video]
|BRK.B Elliott Wave technical analysis
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Function: Trend
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Mode: Impulsive
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Structure: Motive
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Position: Wave {iii} of 5
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Direction: Upside within wave {iii}
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Details:
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Expecting continuation higher in wave {iii} after completing a three-wave corrective move in wave (iv).
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Price needs to hold support above $500 to confirm further upside and strengthen confidence in the bullish trend.
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BRK.B Elliott Wave technical analysis
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave i of (v).
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Direction: Upside in wave (v).
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Details:
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Wave (v) subdivision ongoing, with a missing leg higher in micro wave 5 of subminuette wave i.
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Expecting a small pullback in wave ii around the key $500 level before the next upward phase in wave (v).
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Market outlook for BRK.B
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On the daily chart, Berkshire Hathaway remains in an impulsive uptrend, specifically within wave {iii} of 5.
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A recent three-wave corrective move (wave iv) appears complete, supporting further upside in wave {iii}.
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Maintaining support above $500 is crucial for bullish momentum. A break higher with support at $500 would confirm further continuation of wave 5 rally.
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On the 1-hour chart, a final leg higher in micro wave 5 of subminuette wave i is expected, followed by a small pullback in wave ii around $500, setting the stage for the next rally phase in wave (v).
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The bullish trend remains intact as long as price action stays above $500.
Berkshire Hathaway Inc. (BRK.B) Elliott Wave technical analysis [Video]
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