Stock of the day: Berkshire Hathaway

In today’s stock of the day, let’s focus on Berkshire Hathaway, which has been trading within a sideways trend since early September. This sideways movement is defined by black lines, forming either a rectangle or a pennant. The precise label doesn’t matter; what’s crucial is that this pattern resembles the one observed in the middle of the year, highlighted by blue lines. That earlier formation, which began in May and concluded in July, eventually resulted in a strong buy signal. This suggests that Berkshire Hathaway tends to respect such sideways trends.

We’re now waiting to see which direction the current pattern will break. A breakout above the upper line of this formation would trigger a strong buy signal, while a breakdown below the lower line would signal a sell. As always, monitoring these key levels will provide clarity for the next big move.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-berkshire-hathaway-1