Stock Of The Day: Berkshire Hathaway Trades Above Usual Range — Time To Sell The Warren Buffett Stock?
Portfolio Pulse from Mark Putrino
Berkshire Hathaway Inc. (NYSE:BRK) is currently trading above its usual range, indicating overbought conditions. This could lead to a potential price reversal as traders anticipate a move back into the normal range. The last similar overbought condition led to a significant price drop.
September 03, 2024 | 3:53 pm
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Berkshire Hathaway is trading above its usual range, indicating overbought conditions. This could lead to a price reversal as traders expect a move back into the range. The last similar situation led to a price drop from $445 to $400.
Berkshire Hathaway is currently overbought, as indicated by the RSI. Historically, such conditions have led to a price drop, as seen in July when the stock fell from $445 to $400. Traders expect a reversion to the mean, suggesting a potential short-term decline.
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