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Technical Analysis
Elliott Wave Analysis by EWF
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[QUOTE="Elliottwave-Forecast, post: 149644, member: 40858"] [FONT=Roboto][COLOR=rgb(44, 44, 44)][SIZE=6][B]Berkshire Hathaway Stock Aiming for Recovery[/B][/SIZE] [B]Berkshire Hathaway[/B] (Class A NYSE: BRK.A – Class B NYSE: BRK.B) is currently the seventh largest company in the S&P 500 Index by market capitalization. The company ,lead by Warren Buffett, has averaged an annual growth in book value of 19.0% to its shareholders since 1965. Berkshire Hathaway Class B NYSE: BRK.B is one of the main stock within the Financial Select Sector SPDR Fund XLF. Year-to-date, the whole financial sector is still pointing in the negative side and not seeing any profit yet. The 5 most weighted stocks in XLF are Berkshire, JP Morgan, Bank of America, Wells Fargo and Citibank . They will be reporting earning tomorrow and next week which may shift things around in the coming few weeks to end up with a green summer. [URL='https://elliottwave-forecast.com/wp-content/uploads/2018/07/Financial-Sector-Stocks.png'][COLOR=rgb(170, 170, 170)][IMG]https://elliottwave-forecast.com/wp-content/uploads/2018/07/Financial-Sector-Stocks.png[/IMG][/COLOR][/URL][/COLOR] [COLOR=rgb(44, 44, 44)] The stock market is turning bullish as Technology & Consumer Discretionary sectors already leading the move higher, so we need to take a look at the technical Elliott Wave structure of BRK.B to help identify the path for the Financial sector. Since 01/29/2018 peak, [B]Berkshire Hathaway[/B] did a corrective 7 swings structure ( Double Three )which reached it’s equal legs area around $185.68 – $180.64. Up from there the stock started bouncing higher and it’s expected to resume the rally to new all time highs with a minimum target at $225 – $238 area. [SIZE=3][B]Berkshire Hathaway BRK.B 4H Chart 07.12.2018[/B][/SIZE] [URL='https://elliottwave-forecast.com/wp-content/uploads/2018/07/Berkshire-Hathaway-BRK-4H-7.12.png'][COLOR=rgb(170, 170, 170)][IMG]https://elliottwave-forecast.com/wp-content/uploads/2018/07/Berkshire-Hathaway-BRK-4H-7.12.png[/IMG][/COLOR][/URL][/COLOR] [COLOR=rgb(44, 44, 44)] [B]Recap:[/B] [B]Berkshire Hathaway [/B]is looking for at least a 50% bounce to correct the decline from January peak which may be followed later on by a higher move to take that peak and open a new daily cycle to the upside.[/COLOR][/FONT] [/QUOTE]
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