Trading idea for Berkshire Hathaway (NYSE)

Berkshire Hathaway (NYSE)

#BRK.B

The trend is upward. The stock is trading between the 365 EMA and the 135 EMA. The downward wave pattern is truncated. Bullish divergence is present on the Awesome Oscillator and Stochastic Oscillator.

Trading Idea:

Buy upon the formation of an upward wave pattern where wave (A) breaks through the trendline of the truncated downward pattern.

Stop Loss – 502.00 (below the local low of the truncated downward pattern).

Target levels – 510.30; 516.25.