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Bullish Moving Average Cross by Berkshire Hathaway (BRK.B)

Published on Tue, 05/27/2014 - 10:58
By Adrienne Chilton

Berkshire Hathaway (NYSE:BRK.B) shares have crossed bullishly above their 10-day moving average of $126.99 on a volume of 861K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Berkshire Hathaway (NYSE:BRK.B) has potential upside of 16.8% based on a current price of $127.59 and analysts' consensus price target of $149.00. The stock should discover initial support at its 50-day moving average (MA) of $125.52 and subsequent support at its 200-day MA of $117.79.

In the past 52 weeks, Berkshire Hathaway share prices have been bracketed by a low of $108.12 and a high of $129.73 and are now at $127.59, 18% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.2%.

Berkshire Hathaway Inc. is a holding company owning subsidiaries in a variety of business sectors. The Company's principal operations are insurance business conducted nationwide on a primary basis and worldwide on a reinsurance basis. Berkshire's other operations include The Buffalo News, aviation training, and retail furniture businesses, as well as shoe, candy, and rug manufacturing.

By Adrienne Chilton
achilton@fnno.com

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