The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

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- 3/15/2024 -
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Berkshire (BRK.B) Technical Analysis

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Summary:
Weekly :Overbought sectorRelative Strength Index is overboughtStochastic signal line moved below overbought areaTrend resistance at 410.91
Daily :Williams' Percentage Range is oversoldStochastic signal line moved above oversold areaA Parabolic SAR indicator is below and near the price
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.21
Williams' Percentage Range (W%R) 82.40
Oversold
Lane's Stochastic (%D-Slow) 65.49
Greed/Fear Indicator (GFI) 43.76
Moving Average Converg./Diverg. (MACD) 4.93
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 81.57
Overbought
Williams' Percentage Range (W%R) 25.90
Lane's Stochastic (%D-Slow) 79.08
Greed/Fear Indicator (GFI) 72.99
Moving Average Converg./Diverg. (MACD) 12.30
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 445.09
Weekly Stochastic Crossing 412.63
Parabolic System 412.15
Upper Bollinger Band 411.85
Yearly Trendline Resistance 410.91
Price 408.13
20 Day Moving Average 407.39
Daily Stochastic Crossing 406.46
Quarterly Trendline Support 399.35
Lower Bollinger Band 395.76
50 Day Moving Average 390.88
Yearly Trendline Support 365.47
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Multi-Sector Holdings 95
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 398.78
Low Date 03/05/2024
High 409.08
High Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 398.78
Low Date 03/05/2024
High 409.08
High Date 03/14/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 430.00
High Date 02/26/2024
Low 398.78
Low Date 03/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 445.09
Support 399.35
Low 330.58
Low Date 10/27/2023
High 430.00
High Date 02/26/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 410.91
Support 365.47
Low 259.85
Low Date 10/13/2022
High 430.00
High Date 02/26/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.