BRK-B closes higher for the 2nd day in a row
Berkshire Hathaway Inc. (BRK-B) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, BRK-B ended the week 1.09% higher at 216.37 after gaining $1.48 (0.69%) today. Today's closing price of 216.37 marks the highest close since February 1st. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 215.42, the share confirms its breakout through the prior session's high having traded $1.09 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (BRK-B as at Sep 14, 2018):
Friday's trading range was $1.21 (0.56%), that's below last trading month's daily average range of $1.67. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 216.27 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 217.62, upside momentum might speed up should Berkshire Hathaway be able to break out to new highs for the year.