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Berkshire Hathaway Inc.(BRK.B) Elliott Wave Technical Analysis 7 February 24


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BRK.B Elliott Wave Analysis Trading Lounge Daily Chart, 7 February 24

Berkshire Hathaway Inc., (BRK.B) Daily Chart

BRK.B Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulse

STRUCTURE: Motive

POSITION: Minor wave 5 of (1).

DIRECTION: Top in wave 5.

DETAILS: Watching Minor wave 5 unfolding in a five wave sequence, as we currently seem to be in wave {iii} of 5. We could expect 400$ to act as resistance.

 

 

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BRK.B Elliott Wave Analysis Trading Lounge 4Hr Chart, 7 February 24

Berkshire Hathaway Inc., (BRK.B) 4H Chart

BRK.B Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave {iii} of 5.  

DIRECTION: Extension into wave (iii) of {iii}.

DETAILS: We seem to be in a wave (iii) of {iii} as the pullback that occurred around 380$ seem to be smaller than what is labelled as wave {ii} and therefore I do identify it as a lower degree correction.  

Welcome to our BRK.B Elliott Wave Analysis Trading Lounge, your go-to source for comprehensive insights into Berkshire Hathaway Inc. (BRK.B) through Elliott Wave Technical Analysis. As of the Daily Chart on 7th February 2024, we delve into pivotal trends shaping the market.

 

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*BRK.B Elliott Wave Technical Analysis – Daily Chart*

In terms of wave dynamics, we discern a dominant impulse function with a motive structure. The current position is in Minor wave 5 of (1), indicating a potential top in wave 5. Our attention is fixated on the unfolding of Minor wave 5, manifested in a five-wave sequence, particularly as we appear to be in wave {iii} of 5. We anticipate resistance around the $400 mark.

*BRK.B Elliott Wave Technical Analysis – 4Hr Chart*

Here, the wave function remains impulsive with a motive structure. The present position is in Wave {iii} of 5, suggesting an extension into wave (iii) of {iii}. Notably, the pullback around $380 appears smaller than what is labeled as wave {ii}, indicating a lower degree correction. This suggests a potential wave (iii) of {iii} scenario.

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