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Downtrend Broken Resist.Archive
- 9/22/2023 -
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Berkshire (BRK.B) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Berkshire (BRK.B). During the week, the BRK.B dropped -7.70 points, or -2.09%, and closed at 360.16 on Friday, September 22, 2023. It was the worst weekly loss since May 26, 2023. Weekly volume was -21% 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 March 17, 2023 at 292.42 and reached 373.34 on September 19, 2023. BRK.B gained -80.92 points, or -27.67%, in 26 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (361.93) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.
Medium-term trend: [See BRK.B medium-term trend chart]
A medium-term uptrend had started on August 21, 2023 at 349.61 and reached 373.34 on September 19, 2023. BRK.B gained -23.73 points, or -6.79%, in 4 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (368.51) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See BRK.B weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since April 14, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 September 19, 2023 at 373.34 and reached 359.77 on September 22, 2023. BRK.B lost 13.57 points, or 3.63%, in 3 days. Price is near the trend low.
 Daily Technical Indicators: [See BRK.B daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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