Berkshire Hathaway holds a double bottom, earnings ahead
Berkshire Hathaway adds 0.8% and holds a double bottom in the 483 area
Berkshire Hathaway holds a double bottom, earnings ahead
Our view last week
Berkshire Hathaway shares close another near-flat week, down 0.6%, but the daily chart carves a fresh double bottom in the 478 area, with a 3% rebound echoing the higher lows already seen last week. The buy signal, now in its fourth week, is starting to lose steam: strength slips to 38 out of 100 and the weekly ADX is cooling off. The Financial sector still runs strong, and the stop has already moved to breakeven.
This week's summary
Berkshire Hathaway shares close the week up a modest 0.8%, but the daily chart carves a fresh double bottom in the 483 area, with a 4% rebound holding the structure together. Price is now pressing against the daily Bollinger Band midline, in the 495.7 area, while recent highs remain a heavily contested level. Our technical analysis shows the buy signal, now in its 5th week, is still open but signal strength has slipped to 35 out of 100, with earnings approaching on August 3.
IQS Phase
68
in tension
Signal Strength
35
medium · weak
Sizing
REDUCED
Ranking
#99 / 124
US stocks in progress
Trade P&L %
+1.12%
from signal to today
Rank position
ranks 99th among the 124 Longs already running for US stocks in our ranking, with a signal strength of 35 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein positive regime
Performanceweekly +0.09% · monthly +4.82%
BRK.B belongs to the financials sector (reference ETF XLF). The sector is classified in positive regime according to our weekly reading.
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