• 3 days The Token Boom Spawns Digital Gold Mine in Art, Collectibles
  • 4 days The “Oil Of The Future” Is Set To Soar In 2021
  • 4 days Wealthy Could End Up Footing The Bill For States’ Budget Shortfalls
  • 4 days Could This Be The Hottest Commodity Play Of 2021?
  • 5 days JP Morgan Says Fintech Will Steal The Disruptor Show
  • 7 days Facebook Plays Dirty Down Under
  • 7 days Could This Be The Most Exciting Lithium Play Of 2021?
  • 10 days China Sidelines US As EU’s New Top Trading Partner
  • 12 days 3 Smart Ways To Play the Global Chip Shortage
  • 13 days Flying Taxis Are The Number One Speculative Bull Arena
  • 14 days Ocean Power: The Missing Link
  • 19 days Luxembourg’s Ultra-Secrecy Still Attracts Hundreds Of Billionaires
  • 20 days Robinhood Is Under Fire And Trading ‘Democracy’ Is In Question
  • 21 days Bitcoin Could Be Worth $12 Trillion In The Long-Term
  • 22 days The Biggest Tech IPO Since Uber … For Farmers
  • 24 days The Biggest Boost Yet for the Cannabis Industry
  • 25 days Biden Administration Signs $231 Million Deal For At Home COVID Tests
  • 26 days China’s Tech Billionaire Ma Is Back And ‘Compliant’
  • 27 days Gamestop Crashes By 60% But The Story Is Far From Over
  • 29 days Crypto Crime Is Plummeting
How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis of Berkshire Hathaway (BRK.B)

I have been monitoring this stock for while for an edge to the INDU/SPX. Back in Jan 2017 I was expecting at least a new high for wave [v] to end wave 3.

Before

Berkshire Hathaway Before Daily Chart
Larger Image

Fast forward, not only has BRK.B made a new high for wave [v] of 3, it's also pushed above the fibbo target for wave 3 where wave 3 = wave 1 x 1.618, which is a common target for a 3rd wave of an impulse wave. I think the bulls now want to tread carefully, if wave 3 is close to ending we can expect a decent pullback soon for wave 4. Any pullback for wave 4 should also align with a pullback on the SPX/INDU.

Berkshire Hathaway After Daily Chart
Larger Image

Berkshire Hathaway versus Dow Industrials Long-Term Chart
Larger Image

Short term, I would like to see a minor new high to then make a clear 5 wave move for wave [v] of 3. Its then I think the bulls may want to think about taking some profits off the table, as if I correct we can expect a substantial pullback for wave 4 towards the 160.00 - 165.00 area.

I am targeting a move towards 19500 on the INDU and 2200-30 on the SPX for their respective wave [4] corrections, so that should see a pullback to around the 160.00 - 165.00 area for BRK.B for its wave 4 correction.

 

Back to homepage

Leave a comment

Leave a comment