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Warren Buffet is reportedly in talks with the Biden administration after the collapse of the biggest banks - 2
BRK.A stock price is currently looking to push beyond its 52-week high. It is trading with a gain of % in the intraday session
Berkshire Hathaway is one of the biggest holding companies which has a headquarter in Omaha. Warrant Buffet the chairperson of Berkshire is also called as “ Oracle Of Omaha”. Berkshire operates in a large variety of industries which include Energy, Insurance, Banking, Manufacturing, and many more. Meanwhile, Apple makes approximately 45% of the Berkshire Portfolio. The value of Apple’s holding is approximately 23% of the total market cap of Berkshire. Warren Buffet is not worried about this concentration as he likes to own the business and Apple has done very well in the past. Warren Buffet is reportedly having a meeting with the Biden administration about the collapse of the biggest banks as reported by Mint. Meanwhile, Charlie Munger the other chairperson of Berkshire Hathaway has said that China remains one of the top choices of investors despite the geopolitical issues.
Berkshire Hathaway has a market cap of over $687 Bn which may rise more in the future. BRK.A stock price is just inches away from its 52-week high and may cross it in near future.
Does BRK.A Ready For An Upside?
The weekly technical chart of Berkshire Hathaway stock price hints towards the gaining momentum of bulls. On the daily chart, it is trading near the value of $483500 with a gain of 0.56% in the intraday session. It is trading in a strong upside trend line which can also act as a support for the asset price. Meanwhile, Berkshire Hathaway’s share price is on an upside trend that can see a halt near the value of $500000.The support of the stock price can be seen near the value of $460000.It is trading above the 50 and 100 Daily Moving Averages. There was a positive crossover by 100 DMA which can assist the asset price to move to a new high.
The RSI of the share price is near 67 highlighting its presence in the oversold zone. There is a strong positive slope in the RSI hinting towards a strong upside trend in price.
Summary
Warren Buffet is currently in talks with the Biden administration to help the fallen banks. Berkshire Hathaway’s share price is on a strong upside trend line and can test a new high in the future.
Technical Levels
Major Support:$4600000
Major Resistance:$500000
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/04/13/will-warren-buffet-pull-out-the-us-biggest-banks-from-financial-crisis/