Berkshire Hathaway Inc. Class B (BRK.B) slipped lower in recent intraday trading after failing to break above the key resistance level at $512.00. The pullback appears to be an attempt to establish a higher low that could serve as a foundation for rebuilding the positive momentum needed to resume the stock’s recovery. At the same time, the stock is working to ease its overbought conditions on momentum indicators, particularly as bearish signals have started to emerge. Despite this consolidation, dynamic support remains intact through the stock’s continued trading above its 50-day Simple Moving Average (SMA), while the primary short-term bullish trend remains firmly in control.
Accordingly, our outlook remains tilted to the upside for the stock’s upcoming trading sessions, provided support at $490.00 holds firm. Under this scenario, the stock is expected to retest the key resistance level at $512.00.
Today’s price forecast: Neutral.
Source: Original Article
