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Advanced TA SearchArchive - 3/15/2024 - Sign In to see current Signals. |
Berkshire (BRK.B) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a first positive week for the Berkshire (BRK.B). During the week, the BRK.B gained 4.98 points, or 1.24%, and closed at 408.13 on Friday, March 15, 2024. BRK.B was trading at average weekly trading volume. BRK.B is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See BRK.B long-term trend chart] A long-term uptrend had started on October 13, 2022 at 259.85 and reached 430.00 on February 26, 2024. BRK.B gained -170.15 points, or -65.48%, in 71 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (410.91). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend. Medium-term trend: [See BRK.B medium-term trend chart] A medium-term uptrend had started on October 27, 2023 at 330.58 and reached 430.00 on February 26, 2024. BRK.B gained -99.42 points, or -30.07%, in 17 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 399.35 and resistance is at 445.09. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend. Weekly Technical Indicators: [See BRK.B weekly technical indicators chart] Weekly Relative Strength Index is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Relative Strength Index help. The weekly MACD line is above its signal line since January 5, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help. Short-term trend: [See BRK.B short-term trend chart] A short-term uptrend had started on March 5, 2024 at 398.78 and reached 409.08 on March 14, 2024. BRK.B gained -10.30 points, or -2.58%, in 9 days. The price is now at the 9.22% retracement level. Daily Technical Indicators: [See BRK.B daily technical indicators chart] Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Williams' Percentage Range help. The daily MACD line is below its signal line since February 27, 2024. A Parabolic SAR (stop and reversal) indicator (412.15) comes close to the price (408.13). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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