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Berkshire Hathaway Inc. (BRK.B) – Elliott Wave Analysis – Trading Lounge Daily Chart

BRK.B Elliott Wave Technical Analysis – Daily Chart

• Function: Trend
• Mode: Impulsive
• Structure: Motive
• Position: Wave {iii} of 5
• Direction: Upside within wave {iii}
• Details:
  • Expecting continuation higher in wave {iii} after completing a three-wave corrective move in wave (iv).
  • Price needs to hold support above $500 to confirm further upside and strengthen confidence in the bullish trend.

BRK.B Elliott Wave Technical Analysis – 1-Hour Chart

• Function: Trend
• Mode: Impulsive
• Structure: Motive
• Position: Wave i of (v)
• Direction: Upside in wave (v)
• Details:
  • Wave (v) subdivision ongoing, with a missing leg higher in micro wave 5 of subminuette wave i.
  • Expecting a small pullback in wave ii around the key $500 level before the next upward phase in wave (v).

Market Outlook for BRK.B

• On the daily chart, Berkshire Hathaway remains in an impulsive uptrend, specifically within wave {iii} of 5.
• A recent three-wave corrective move (wave iv) appears complete, supporting further upside in wave {iii}.
• Maintaining support above $500 is crucial for bullish momentum. A break higher with support at $500 would confirm further continuation of wave 5 rally.
• On the 1-hour chart, a final leg higher in micro wave 5 of subminuette wave i is expected, followed by a small pullback in wave ii around $500, setting the stage for the next rally phase in wave (v).
• The bullish trend remains intact as long as price action stays above $500.

Technical Analyst : Alessio Barretta

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