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Technical Analysis
Elliott Wave Analysis by EWF
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[QUOTE="Elliottwave-Forecast, post: 196832, member: 40858"] Since the crash of March 2020, all stocks have tried to recover what they lost, and Berkshire Hathaway was no exception. BRK.B did not only recover the lost, but It also reached historic highs. Now, it is building an impulse from March 2020 lows with a target to $318 - $342 area. Target measured from wave ((1)) and wave ((2)). We think this target is conservative and as the weeks go by, we will update a better target area. [HEADING=2][B]Berkshire Hathaway Old Daily Chart [/B][/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/06/BRK20210411162407.png'][IMG alt="Berkshire Hathaway Old Daily Chart "]https://elliottwave-forecast.com/wp-content/uploads/2021/06/BRK20210411162407.png[/IMG][/URL] As we see in the daily chart, the wave ((1)) has ended, the structure could be rare for you because it is not quite common, and it is called an expanding leading diagonal. (If you want to learn more about Elliott Wave Theory, please follow this link: Elliott Wave Theory). I think it is better to manage the structure of Berkshire Hathaway in that way instead of a nest, and this is because comparing some cycles in the market has more sense with the current structures of the market. Then we have a clear (A), (B), (C) correction as wave ((2)) and we are developing wave ((3)) in this moment. [HEADING=2][B]Berkshire Hathaway Daily Chart[/B][/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/06/BRK20210627114436.png'][IMG alt="Berkshire Hathaway Daily Chart "]https://elliottwave-forecast.com/wp-content/uploads/2021/06/BRK20210627114436.png[/IMG][/URL] In Berkshire Hathaway, we have returned to the first structure erasing the idea of another nest in wave ((3)) as we did 1 month ago. That is because the pullback from wave (3) of ((3)) was more deeper than expected; therefore, the correction labels as wave (4) is the better option for now. Short Term wave (4) possibly ended. We will confirm wave (4) when we break the wave (3) high to look for complete wave ((3)). In the next months we should continue higher in the stock to 302.23 – 318.27 area following the uptrend as we could see in the chart. Source: [URL]https://elliottwave-forecast.com/stock-market/berkshire-hathaway-needs-break-295/[/URL] [automerge]1624849432[/automerge] BioNTech SE (Nasdaq: BNTX) is a German biotechnology company that develops treatment based on messenger ribonucleic acid (mRNA). The company shot to fame and becomes a household name after becoming one of the first successful companies to develop vaccine for Covid-19. In 2020, partnering with Pfizer, BioNTech developed RNA vaccine BNT162b2 to prevent COVID-19 infection. The vaccine offers 95% efficacy in preventing COVID-19 at least 7 days after the second dose. It was the first ever mRNA vaccine which gets authorization. Weekly chart for BNTX below shows the company rallies in an incomplete impulse Elliott Wave structure which should see further upside. From the IPO time, wave (I) ended at 105, and pullback in wave (II) ended at 37. From there, it's nesting within wave (III) where wave I of (III) ended at 131 as a diagonal. Pullback in wave II of (III) ended at 80.55. Expect 1 more high to end wave III of (III) as an impulse. Then the stock should pullback in wave IV before 1 more leg higher to end wave V of (III). As far as pivot at 80.55 low remains intact, dips should continue to see buyers in 3, 7, or 11 swing for further upside. [HEADING=3]BioNTech (BNTX) Weekly Chart 27 June 2021[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/06/BNTX20210627172633.jpg'][IMG alt="BioNTech (BNTX) Elliott Wave Chart"]https://elliottwave-forecast.com/wp-content/uploads/2021/06/BNTX20210627172633.jpg[/IMG][/URL] [HR][/HR] Source: [URL]https://elliottwave-forecast.com/stock-market/biontech-bntx-continues-benefit-pandemic/[/URL] [automerge]1624849455[/automerge] Shopify (NYSE: [B]SHOP[/B]) is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. It's also an e-commerce platform for online stores. The stock is up above 28% over the past month, outperforming S&P 500 which has returned just about 2% over the past month. The stock has certainly benefited from the Covid-19 breakout, as the pandemic accelerated the shift to e-commerce. The company provides small and medium businesses the software tools and services they need to go online. Below is the weekly Elliott Wave chart for Shopify. The entire rally from the IPO time in 2015 is unfolding as a 5 waves impulse Elliott Wave structure. Up from the all-time low, wave (I) ended at 409.61 and wave (II) pullback ended at 282.08. Stock then resumed higher again in wave (III) towards 1499.75 and pullback in wave (IV) ended at 1005.14 on March 2021. The stock has recently made a new all-time high again within wave (V). Near term, expect the stock to continue higher as far as pullback stays above March 26 low at $1005.14. Once wave IV of (IV) completes, then we can better measure potential target to end wave V of (V) of ((I)). [HEADING=3]SHOP Weekly Chart 27 June 2021[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/06/SHOP-Weekly20210627164503.jpg'][IMG alt="Shopify Elliott Wave Chart"]https://elliottwave-forecast.com/wp-content/uploads/2021/06/SHOP-Weekly20210627164503.jpg[/IMG][/URL] [HR][/HR] Source: [URL]https://elliottwave-forecast.com/stock-market/shopify-nyse-shop-wave-v-progress/[/URL] [/QUOTE]
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