Berkshire Hathaway – Mid Term Forecast – ElliottWave
Buffett’s empire lost 1.5% today. Is this the start of a larger decline, or will this move mark a bottom? Let’s evaluate the signals from the candle and EW perspective and outline the next targets.
Candles
Today, BRK.B failed big. It had every chance to complete a Falling Three Methods on the daily frame, but bulls saved the day and likely flipped the table by defending the 100-DMA support. The week closes tomorrow. If Berkshire prints a bullish weekly candle, I would consider the correction over, and the previously discussed weekly Three White Soldiers will take charge.
Elliott Wave
Mid Term
On the same chart, I overlaid the flag targets with the prospective objectives for wave (iii). If this hypothesis confirms, BRK could gain about 10% in Q4–Q1 and roughly 25% over the next 6–9 months.
Happy Trading!
