BRK to pre 2020 highs >>$220Weekly chart is showing negative divergence with PPO, indicates slowdown in the trend, meaning price was still moving up but at the slower momentum. It’s a decent indicator of trend reversal. There is small possibility for another ATH (only bc Buffett invested in energy sector and I am not sure when exactly energy will peak - in the next few months at most), but most likely price to start making lower lows / lower highs. Right around $220 price level security traded for 2 years pre pandemic. It would be most obvious target on the downside (not that it can’t go lower).
I believe that essentially the whole market is also about to take big hit. Most major sectors already down a bit, only energy sector is still in the bull market, similarly as in 2008. But that should end soon as well.
As a side note, I was hoping that AAPL (large component of BRK.B) would make a run up before collapse in equities, but looks like that will not happen and market is just going to make lower lows until something blows and fed reverses their tightening policy.
Timing: idk when low will be reached, but by year end we should see significant downside action to develop. Essentially it’s a terrible risk/reward proposition to be long at current time imho.
