Good technical signals and a possible breakout for BERKSHIRE HATHAWAY INC-CL B.

Our stock screener has flagged BERKSHIRE HATHAWAY INC-CL B (NYSE:BRK.B) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:BRK.B for potential movement.

Insights from Technical Analysis

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

Taking everything into account, BRK.B scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, BRK.B has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that BRK.B is one of the better performing stocks in the market, outperforming 74% of all stocks. We also observe that the gains produced by BRK.B over the past year are nicely spread over this period.
• BRK.B is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so BRK.B is lagging the market slightly.
• BRK.B is an average performer in the Financial Services industry, it outperforms 59% of 101 stocks in the same industry.
• In the last month BRK.B has a been trading in a tight range between 450.92 and 467.84.

For an up to date full technical analysis you can check the technical report of BRK.B

Why is NYSE:BRK.B a setup?

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:BRK.B this score is currently 9:

Besides having an excellent technical rating, BRK.B also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 463.24, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How to trade NYSE:BRK.B?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.