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- Recently, Berkshire Hathaway invested $4.1 billion in TSMC’s chip shares.
- NYSE: BRK.A stock formed an important rescue zone at $400000 level.
- Buyers are happy to see the digital asset price above its 200-day EMA, despite the price slide.
Warren Buffett’s Berkshire Hathaway Corporation is investing money in several projects to increase its market dominance. Most recently, they released the company’s third quarter results on November 10, showing a 9% increase in revenue to $76.93 billion. Apart from the revenue, some jitters spread in the market.
This week is looking good for Taiwan Semiconductor Manufacturing Corporation Ltd. and its investors as Berkshire Hathaway pumped $4.1 billion into TSMC’s chip shares. That resulted in a TSMC shoot-up on Tuesday and closed up 7.9% in Taiwan. As well as, Berkshire Hathaway stock price has been continuously hovering around higher positions.
Market sellers had multiple attempts to maintain selling pressure but bulls became aggressive at the $400000 mark. This ideological round level is still valid as a key demand zone and big bulls have placed buying orders at the same place. Eventually, Berkshire Hathaway stock price breached the $450000 bullish hurdle amid recovery but as of now bears barely keep assets below the $0.5 level of Fib retracement.
In the letter of 15 November, Berkshire Hathaway stock price closed in green with 0.35% gain. This $1600 point rally helps buyers maintain higher-low price action in the daily price chart. Similarly, Buyers are happy to see the digital asset price above the 200 day moving average, flipped into the pumping zone. To ignore any sharp decline in share price, bulls must hold prices above 200 DMA.
On the daily price chart, RSI indicator reached 67 levels as per last night’s data, and is standing over the verge to enter the overbought zone.
Conclusion
The Berkshire Hathaway stock price resists the 0.5 Fib level for a higher trend. Although, technical analysis favors bulls until NYSE: BRK.A price hits the next key round level of $500000.
Support level – $450000 and $400000
Resistance level – $500000 and $544000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
