SmarTrend has detected shares of Berkshire Hathaway (NYSE:BRK.A) have bullishly opened above the pivot of $117685.00 today and have reached the first resistance level of $118665.00. We are watching for a cross of the next upside pivot targets of $119315.99 and $120946.99. Also, the shares are currently trading above the 50-day moving average of $114419.34 and above the 200-day moving average of $110688.46. SmarTrend, our proprietary pattern recognition system, alerted subscribers to buy shares of Berkshire Hathaway on June 17, 2010 at $117646.00. Since the call, the stock has risen 0.9%.
$119,315.99? Seriously?
Apparently so. Technical analysis sites such as this one have apparently gained placement in the Google Finance system so those who view Berkshire’s chart are alerted to these stories!
Disclosure: The author of this article owns shares of Berkshire Hathaway.
On the lighter side, we present our readers with one of the most absurd examples of technical analysis seen in quite some time, courtesy of an article in a website called SmarTrend entitled “Watch for Shares of Berkshire Hathaway (BRK.A) to Approach Resistance at $119315.99”