BRK.B Defensive after earnings
Updated
Seasonal defensive BRK.B has bounced off the 200MA. It fell last week (w/e May 10) despite beating on earnings. There were no guidance issues, but it was caught up in the trade war sell-off, despite being a defensive little affected by this, and by being overbought.
I suggest entry at 208 ($1 below market). We are relying on the rising channel (note the very precise channel touches) to avoid a repeat of Feb-Mar price action, hence the tight stop of 203, just below last week’s low. Targeting 224, the previous ATH gives a 3.2:1 trade.
I suggest entry at 208 ($1 below market). We are relying on the rising channel (note the very precise channel touches) to avoid a repeat of Feb-Mar price action, hence the tight stop of 203, just below last week’s low. Targeting 224, the previous ATH gives a 3.2:1 trade.
Trade closed: stop reached
Wrong, sadly
David Atherton
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