Berkshire Hathaway Inc (BRK.B) Heads Up For the 2nd Straight Day, Nears 20 Day Moving Average; Pin Bar Pattern Appearing on Chart

The Hourly View for BRK.B

Last Updated October 19, 2020, 11:22 GMT At the time of this writing, BRK.B’s price is up £1.67 (0.79%) from the hour prior. This move is a reversal from the hour prior, which saw price move up.

As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Of note is that the 20 and 50 hour changed directions on BRK.B; they are now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Berkshire Hathaway Inc Daily Price Recap

Berkshire Hathaway Inc closed the day prior up 0.12% (£0.26); this denotes the 2nd straight day it has gone up.

The change in price came along side change in volume that was up 18.52% from previous day, but down 3.4% from the Sunday of last week. Let’s take a look at the daily price chart of Berkshire Hathaway Inc.

Berkshire Hathaway Inc Technical Analysis

Notably, Berkshire Hathaway Inc is now close to its 20 and 50 day averages, located at 212.3 and 213.83 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.

It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. For another vantage point, consider that Berkshire Hathaway Inc’s price has gone up 8 of the previous 14 trading days.

As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about BRK.B:

£HYLN Some folks may not know that there’s a Warren Buffett ( £BRK.A / £BRK.B ) connection via Crystal C.

Maggelet, CEO & Pres. of FJ Management Inc. (formerly known as Flying J) who owns 5.4% (8,328,499 common shares) of HYLN, and Warren Buffett bought a majority stake in Flying J.
It’s pure speculation, but based on the businesses that Buffett’s Berkshire Hathaway is investing in, HYLN would fit his profile perfectly, especially since the HYLN valuation has dropped significantly, and as thousands of orders (for existing Hyliion products) and pre-orders (for Hyliion Hypertruck ERX) are pouring in since the SHLL merger.
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