Stock of the Day: Berkshire Hathaway

In today’s stock of the day, let’s take a closer look at Berkshire Hathaway, Warren Buffett’s company, where short-term signals suggest a bearish setup is forming. On the hourly chart, we can see the development of a double top formation, marked with green color.

This double top is not just a possibility — it’s already active. Why? Because the price has broken through the support line of the formation, confirming the bearish structure. At the same time, the move pushed the price below the mid-term uptrend line, which had been connecting higher lows since the 4th of August. Losing this trendline is another strong negative sign.

With both of these supports broken, the sentiment on Berkshire Hathaway is clearly negative. The price is now expected to continue forming lower highs and lower lows, opening the door to a deeper bearish correction. Buyers would only regain control if the price climbs back above the neckline of the double top, but for now, the chart favors sellers.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-berkshire-hathaway-5