Berkshire Hathaway Inc. (BRK.B) Elliott Wave technical analysis [Video]

BRK.B Elliott Wave technical analysis

• Function: Trend

• Mode: Impulsive

• Structure: Motive

• Position: Wave {iii} of 5

• Direction: Upside within wave {iii}

• Details:

  • Expecting continuation higher in wave {iii} after completing a three-wave corrective move in wave (iv).

  • Price needs to hold support above $500 to confirm further upside and strengthen confidence in the bullish trend.

BRK.B Elliott Wave technical analysis

• Function: Trend.

• Mode: Impulsive.

• Structure: Motive.

• Position: Wave i of (v).

• Direction: Upside in wave (v).

• Details:

  • Wave (v) subdivision ongoing, with a missing leg higher in micro wave 5 of subminuette wave i.

  • Expecting a small pullback in wave ii around the key $500 level before the next upward phase in wave (v).

Market outlook for BRK.B

• On the daily chart, Berkshire Hathaway remains in an impulsive uptrend, specifically within wave {iii} of 5.

• A recent three-wave corrective move (wave iv) appears complete, supporting further upside in wave {iii}.

• Maintaining support above $500 is crucial for bullish momentum. A break higher with support at $500 would confirm further continuation of wave 5 rally.

• 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).

• The bullish trend remains intact as long as price action stays above $500.

Berkshire Hathaway Inc. (BRK.B) Elliott Wave technical analysis [Video]