At the end of last week, an alarming price trend had already appeared on numerous stocks, which this week led to clear sell signals. Using the example of Berkshire HathwayShare, however, was not least due to the upper trend limit for profit-taking among investors..
Like the entire market, the investment company’s security could Berkshire Hathaway benefit from the recovery of recent months and move closer to the previous highs from early 2020. In the end, however, it was not enough for a test. Before that, the share clearly turned to the bottom and failed with a breakout over the current upward trend. Now a normal consolidation is played, which is equally suitable for short and long approaches. You only have to determine the direction yourself.
Gap-down warns cops to be careful
The price gap, which was torn and directed downwards during this trading week, could hold further setbacks in the further course, with a weekly closing price below USD 210.00, the probability of a return to the 50-week average at currently USD 102.08 increases noticeably. This point could already provide for a stabilization and subsequent trend reversal, if not, a deeper support in the area between 190.96 and roughly 195.00 US dollars would have to be tested. The returns into bullish waters Berkshire Hathaway-Share only declined above USD 224.00, in such a scenario further price gains to the current annual and record highs of USD 231.61 would be conceivable. The targeted use of various leveraged instruments results in an extremely promising trading approach.
- Resistances: 215.45; 218.21; 220.10; 221.62; 223.24; $ 226.39
- Supports: 210.00; 207.43; 204.51; 202.08; 200.66; $ 197.28
Berkshire Hathaway in US dollars in the daily chart; 1 candle = 1 day (logical candle chart display)
Observation period: 10.12.2019 – 21.09.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de/underlying/US0846707026
Berkshire Hathaway in US dollars in the weekly chart; 1 candle = 1 week (logical candle chart display)
Observation period: 21.09.2015 – 21.09.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de/underlying/US0846707026
For products on Berkshire Hathaway’s stock and other underlying assets please visit: www.onemarkets.de
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The article Berkshire Hataway – Door Limiting Works first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).
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