Berkshire Hathaway Nears Support Zone After 10 Losing Weeks – Opportunity Ahead?

Berkshire Hathaway (NYSE: BRK.A / BRK.B) is on track for its 10th red week out of the last 11, marking its longest losing streak since 2022. With the share price under pressure, some investors may see this as a timely opportunity for sellers to take profits and for buyers to step in—particularly as the stock nears a major trendline support level on the weekly chart.

As of pre-market trading, Berkshire Hathaway shares are priced around $470.51, with the trendline support estimated at $467.64. This level could prove pivotal. A decisive break below this support zone may signal further downside in the medium term, while in the short term, it could offer a technical buying opportunity for traders anticipating a bounce.

Technical indicators across multiple timeframes now suggest that Berkshire Hathaway is oversold in the near term. This increases the likelihood of buyers re-entering the market, especially if the price stabilises and begins to consolidate around current levels.

If the stock manages to hold above support, a relief rally could see it rebound towards the $480 mark, with potential for an extension towards $490 should bullish momentum build.

On the downside, only a confirmed and sustained break below $460 would likely indicate that the ongoing sell-off is set to continue.

Key Takeaways for Traders and Investors:

• Support Level: Weekly trendline support near $467.64.

• Current Price: Trading around $470.51 in the pre-market.

• Resistance Targets: Short-term targets at $480 and $490.

• Technical Indicators: Oversold conditions suggest a potential near-term bounce.

• Bearish Trigger: A confirmed break below $460 could extend the downtrend.

With Berkshire Hathaway testing key technical levels, the coming sessions may present an important inflection point for the stock. Traders should closely monitor price action and volume for signs of stabilisation or breakdown.

---