Does This Provide a Reason to Buy Berkshire Hathaway Inc. (BRK-A)? The Stock Has Formed Bullish Descending Triangle

June 17, 2018 - By Marguerite Chambers

Berkshire Hathaway Inc. (NYSE:BRK.A) Logo

The stock of Berkshire Hathaway Inc. (BRK-A) formed a descending triangle with $304883.56 target or 6.00 % above today’s $287626.00 share price. The 7 months triangle pattern indicates low risk for the $473.08 billion company. If the $304883.56 price target is reached, the company will be worth $28.38 billion more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock decreased 0.71% or $2043.91 during the last trading session, reaching $287626. About 337 shares traded or 17.42% up from the average. Berkshire Hathaway Inc. (NYSE:BRK.A) has risen 17.36% since June 17, 2017 and is uptrending. It has outperformed by 4.79% the S&P500.

More notable recent Berkshire Hathaway Inc. (NYSE:BRK.A) news were published by: Seekingalpha.com which released: “Ackman Is Back; Time To Back Ackman Via Pershing Square Holdings” on June 12, 2018, also Fool.com with their article: “Better Buy: Berkshire Hathaway vs. American Express” published on June 13, 2018, Usatoday.com published: “Management, competition: Two important reasons Warren Buffett reads annual reports” on May 23, 2018. More interesting news about Berkshire Hathaway Inc. (NYSE:BRK.A) were released by: Seekingalpha.com and their article: “Berkshire Hathaway: Intrinsic Value Estimates Exceed $240 Per Class B Share” published on May 25, 2018 as well as Seekingalpha.com‘s news article titled: “IBM: A Long Work-In-Progress” with publication date: June 14, 2018.

Berkshire Hathaway Inc., through its subsidiaries engages in insurance, freight rail transportation, and utility businesses. The company has market cap of $473.08 billion. It provides property and casualty insurance and reinsurance, as well as life, accident, and health reinsurance; and operates railroad systems in North America. It has a 11.9 P/E ratio. The firm also generates, transmits, and distributes electricity primarily from solar, wind, geothermal, and hydro sources; operates natural gas distribution and storage facilities, interstate pipelines, and compressor and meter stations; and holds interest in coal mining assets.

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