Warren Buffett's Berkshire Hathaway Shatters Expectations: A Deep Dive Into Its Unprecedented Surge Beyond Previous Record Highs

• In the recent month, Berkshire Hathaway surpassed its previous all-time high.
• The stock's recent surge might be attributed to its Q2 earnings report, where the actual earnings of 4.62 exceeded the expected 3.87.

Berkshire Hathaway Inc's Class B (NYSE: BRK-B) stock shows promising growth after making a significant bullish move on August 7th.

During its rollercoaster journey, the stock reached its peak in March 2022, but then it experienced a significant decline of 28%.

However, in October 2022, the stock price eventually stabilized at $260 before making a bold bullish move this month, briefly surpassing its previous record high.

Although the stock briefly reached a new high, it only broke out by a small margin, with just a few points separating it.

This record high was short-lived as the stock quickly declined and dropped below its previous peak within a few days.

Leading up to this significant breakout, the momentum had been steadily building, creating an almost certain outcome.

The turning point can be attributed to a significant resistance level of $321, which turned into support and acted as a catalyst, injecting the stock with the necessary energy for its upward trajectory.

The stock's current all-time high is remarkably close to the previous peak, suggesting a formidable barrier of resistance.

Breaking through this level consistently proves challenging for the stock. It is worth noting that it took a significant amount of time, a year and a half, for the stock to gather the confidence to retest this solid level.

The recent breakout may have been fueled by the positive sentiment generated by its Q2 earnings report.

While the estimated earnings were expected to be 3.87, the actual figures surpassed expectations at 4.62.

One observation that stands out is the daily 20 simple moving average, currently positioned just below the stock price of $350. This could serve as a significant support level.

If the stock holds at this level and utilizes it as a launching pad, there is a strong possibility of upward momentum.

And if sufficient momentum is obtained, not only may we witness the stock break its record high, but also establish a long-term bullish trend above it.

After the closing bell on Friday, August 11, the stock closed at $358,35, trading up by 0.38%.