The Greedy Trader Weekly Analysis
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Quarterly Price vs. Fibonacci:Near 23.6% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 5/3/2024 -
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Berkshire (BRK.B) Technical Analysis

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Summary:
Weekly :Overbought sector
Daily :The price has fallen below the Parabolic SAR
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It was the negative week for the Berkshire (BRK.B). During the week, the BRK.B gave back -1.23 points, or -0.31%, and closed at 400.87 on Friday, May 3, 2024. Weekly volume was -8% below average.

BRK.B is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See BRK.B long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 259.85 and reached 430.00 on February 26, 2024. BRK.B gained -170.15 points, or -65.48%, in 71 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 375.81 and resistance is at 421.25. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See BRK.B medium-term trend chart]
A medium-term downtrend had started on February 26, 2024 at 430.00 and reached 395.66 on April 17, 2024. BRK.B lost 34.34 points, or 7.99%, in 7 weeks. The price is now at the 15.17% retracement level.

Weekly Technical Indicators: [See BRK.B weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since April 19, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See BRK.B short-term trend chart]
A short-term downtrend had started on April 4, 2024 at 424.52 and reached 395.66 on April 17, 2024. BRK.B lost 28.86 points, or 6.80%, in 13 days. The chart has formed a Descending Triangle chart pattern. The trend support level is at 396.49 and resistance is at 401.47. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a short-term trend.

Daily Technical Indicators: [See BRK.B daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since April 4, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.97
Williams' Percentage Range (W%R) 61.40
Lane's Stochastic (%D-Slow) 22.17
Greed/Fear Indicator (GFI) 37.24
Moving Average Converg./Diverg. (MACD) -1.81
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.94
Williams' Percentage Range (W%R) 33.40
Lane's Stochastic (%D-Slow) 37.77
Greed/Fear Indicator (GFI) 51.82
Moving Average Converg./Diverg. (MACD) 15.24
Trading Signals
Description Value Chart
Yearly Trendline Resistance 421.25
Upper Bollinger Band 414.86
Parabolic System 409.99
50 Day Moving Average 408.06
20 Day Moving Average 403.94
Weekly Stochastic Crossing 403.72
Weekly Trendline Resistance 401.47
Price 400.87
Daily Stochastic Crossing 398.52
Weekly Trendline Support 396.49
Lower Bollinger Band 393.23
Yearly Trendline Support 375.81
Sector and Industry
Description Name Rank
Sector Financials 9
Industry Multi-Sector Holdings 65
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 411.35
High Date 04/22/2024
Low 396.35
Low Date 05/01/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Valid
Resistance 401.47
Support 396.49
High 424.52
High Date 04/04/2024
Low 395.66
Low Date 04/17/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 430.00
High Date 02/26/2024
Low 395.66
Low Date 04/17/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 330.58
Low Date 10/27/2023
High 430.00
High Date 02/26/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 421.25
Support 375.81
Low 259.85
Low Date 10/13/2022
High 430.00
High Date 02/26/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.