Will Berkshire Hathaway (BRK.B) Continue Rally Or Correcting Soon?
Berkshire Hathaway Inc., (BRK.B) is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. It operates as Insurance as major operations along with subsidiaries operate in diverse sectors such as confectionery, retail, railroads, home furnishings, machinery, jewelry, apparel, electrical power & natural gas distribution. It trades as “BRK.B” ticker at NYSE & comes under Financial services sector.Since March-2020 low, it favors upside in weekly bullish sequence & favors I of (III), while placed (II) at $259.85 low. Above October-2022 low, it favors upside in ((5)) to finish I impulse, while dips remain above August-2024 low.
BRK.B – Elliott Wave Latest Daily View:
Since March-2020 low, it placed (I) of ((III)) at $362.10 high in March-2022 & (II) at $259.85 low 0.5 Fibonacci retracement. Above (II) low, it placed ((1)) at $321.32 high & ((2)) at $292.42 low. It resumed upside in extended ((3)), which ended at $449.25 high. Within ((3)), it ended (1) at $373.34 high, (2) at $330.58 low, (3) at $430 high, (4) as triangle at $403.82 low & (5) as ((3)) at $449.25 high. Later, it ended ((4)) at $406.11 low as sharp correction on 5th August-2024 low.
Above $406.11 low, it favors upside in ((5)). Short term rally should finish I sequence started from October-2022 low, while price holds the trend channel. It placed (1) at $484.82 high & appears ended (2) at $445.25 low. Above there, it expects two more highs to finish ((5)), which confirm above $484.82 high as long as momentum divergence remains intact. Do not like chasing the strength at current level. Later, it should pullback in bigger II correction as 3, 7 or 11 swings, which will provide next buying opportunity.
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Source:-forecast.com/stock-market/will-brk-b-continue-rally-correcting-soon/
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