A Reversal for Berkshire Hathaway Inc. (BRK-B) Is Near. The Formed Bullish Descending Triangle

May 18, 2018 - By Milton Kimbrough

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

The stock of Berkshire Hathaway Inc. (BRK-B) formed a descending triangle with $209.34 target or 6.00 % above today’s $197.49 share price. The 5 months triangle pattern indicates low risk for the $487.19B company. If the $209.34 price target is reached, the company will be worth $29.23B 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 0.17% or $0.34 during the last trading session, reaching $197.49. About 2.60 million shares traded. Berkshire Hathaway Inc. (NYSE:BRK.B) has risen 17.15% since May 18, 2017 and is uptrending. It has outperformed by 5.60% the S&P500.

Berkshire Hathaway Inc. (NYSE:BRK.B) Ratings Coverage

Among 2 analysts covering Berkshire Hathaway B (NYSE:BRK.B), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Berkshire Hathaway B had 2 analyst reports since January 8, 2018 according to SRatingsIntel.

More notable recent Berkshire Hathaway Inc. (NYSE:BRK.B) news were published by: Foxbusiness.com which released: “Berkshire Earnings: Why the $1.1 Billion First-Quarter Loss Doesn’t Matter” on May 05, 2018, also Fool.com with their article: “Buffett Gets Even Greedier With Teva Pharmaceuticals. Time to Buy?” published on May 18, 2018, Seekingalpha.com published: “It’s Time For Berkshire And McLane To Part Ways” on May 17, 2018. More interesting news about Berkshire Hathaway Inc. (NYSE:BRK.B) were released by: Nasdaq.com and their article: “Is Phillips 66 a Buy?” published on May 16, 2018 as well as Fool.com‘s news article titled: “Berkshire Hathaway’s Cash Hoard Went Down (Finally!)” with publication date: May 10, 2018.

Berkshire Hathaway Inc., through its subsidiaries engages in insurance, freight rail transportation, and utility businesses. The company has market cap of $487.19 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 10.84 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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