Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart is from the watchlist section of the weekly report. It is featuring Berkshire Hathaway Inc. listed on the New York Stock Exchange.
BERKSHIRE HATHAWAY INC (BRKb)
Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in various business activities, including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing and retailing. The stock is listed on the New York Stock Exchange. Price chart formed a 5 month-long rectangle with the horizontal boundary acting as strong resistance at 293.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 296.00 levels will confirm the breakout from the 5 month-long rectangle with the possible chart pattern price target of 314.00 levels. Until there is a breakout or a breakdown from the lengthy sideways consolidation, the stock offers trading opportunity between boundaries.
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