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Downtrend Broken Resist.Archive - 10/18/2024 - 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 climbed 4.59 points, or 1.00%, and closed at 464.80 on Friday, October 18, 2024. Weekly volume was -13% below average. 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 484.82 on September 4, 2024. BRK.B gained -224.97 points, or -86.58%, in 98 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (411.10) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken 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 April 17, 2024 at 395.66 and reached 484.82 on September 4, 2024. BRK.B gained -89.16 points, or -22.53%, in 20 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 413.77 and resistance is at 511.82. 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 technical indicators are neutral. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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. The weekly MACD line is above its signal line since July 19, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 September 11, 2024 at 445.25 and reached 467.84 on October 17, 2024. BRK.B gained -22.59 points, or -5.07%, in 36 days. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (454.84) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend. Daily Technical Indicators: [See BRK.B daily technical indicators chart] Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Use the following links to access Lane's Stochastic and Williams' Percentage Range help. During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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