Check Out Berkshire Hathaway's Price Levels Following Record High Stock Closing

Money | July 16, 2024, 3:24 a.m.

Shares in Berkshire Hathaway soared to a record high on Monday, driven by gains in key holdings like Apple and American Express. The stock broke out from a symmetrical triangle chart pattern, signaling a continued uptrend with a near-term price target of $465 and a longer-term target of $500. During pullbacks, support levels are expected at $415 and $390. This surge in Berkshire Hathaway's stock price is seen as a positive indicator for the U.S. economy due to its diverse range of investments. The breakout was accompanied by high trading volume and strong momentum, with the relative strength index pointing towards further gains. Investors should monitor key price levels and potential retracement areas as the stock continues to climb. This analysis provides valuable insights for those considering investing in Berkshire Hathaway.