Trading idea for Berkshire Hathaway (NYSE)

Berkshire Hathaway (NYSE)

#BRK.B

The trend is bullish. The stock is trading between the 365 EMA and the 135 EMA. The bearish wave pattern is truncated. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator indicates oversold conditions.

Trading Idea:

Buy upon the formation of a bullish wave pattern where wave (A) breaks the trendline of the bearish truncated pattern.

Stop Loss: 496.20 (below the local low of the bearish truncated pattern).

Target Levels: 507.00; 525.00.