Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
Thursday, March 10, 2011
BRK/B Berkshire Hathaway Weekly Chart Overbot Rising Wedge Negative Divergence
BRK/B Berkshire Hathaway weekly chart showing overbot conditions, rising wedge and negative divergence so down she will go. Key support levels are at 83-ish and the high volume candle prints at 77.5, then the 70-71 area. Berkshire is a proxy for the overall markets and economy so the future weakness of this chart is ominous. Berkshire also serves as a proxy for the railroads due to Mr. Buffett's acquisition of Burlington Northern. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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