BRK/B Berkshire Hathaway Weekly Chart Negative Divergence

Surprise news with top man Sokol at Berkshire resigning tonight. Chart is set up with negative divergence and was receiving a spank down from 87 already. Interesting chart since technicians may tout a rising wedge (blue lines), or an ascending triangle (pink lines), but, the problem is they each have opposite outcomes. The vote is for the rising wedge since the negative divergence is in place. An ascending triangle breakout would be occurring with long and strong indicators, not negatively diverged ones.

This sudden news is interesting since a drop in the price will fail the lower trend line forecasting further problems ahead. A hanging man candlestick printed at the close creating an omen for tonights news. Some dip buyers may rush in on any pull back so you can not rule out a pop to test the top rail a last time at 87.5, but, in general weakness should continue moving foward and a near term test of 82 and 79 would be expected soon. 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.