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BRK-B Elliott Wave Analysis Trading Lounge Daily Chart, 7 February 2024

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.

BRK-B Elliott Wave Analysis Trading Lounge 4H Chart, 7 February 2024

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.

*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 – 4H 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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