Warren Buffet Head And Shoulders: An Ugly Signal For The Oracle
Berkshire Hathaway Inc. (NYSE:BRK.B), Warren Buffet's company has an ugly head and shoulder pattern forming on the daily chart. Considering this company owns a little of everything, it is a very ominous sign for the global economy. Head and shoulder patterns are bearish patterns, predicting steep drops. The key break down level on Berkshire Hathaway is $111.00. If it takes out that level to the downside, $102.00 would be the next stop.
What do you think caused it? Government shutdown, earnings expectations, and people panicking! I know BRK.B don't own Alcoa, but there beat was the Buy signal for markets that most people missed, because they were too focused on Washington. So far, solid earnings for BRK.B's stock positions.