Warren Buffett's Berkshire Hathaway Rebounds From The 2% October Tumble Post-Earnings Report

• Berkshire Hathaway's cash reserves reached a record high of $157 billion in the third quarter.
• The company's operating profit soared by 41% to $10.76 billion.
• Earnings per share for Berkshire Hathaway exceeded expectations at $4.96, outpacing the estimated $4.59, contributing to a 12% rise in stock price for the year.

Berkshire Hathaway Inc's Class B (NYSE: BRK-B) third-quarter performance reveals a fascinating snapshot of the company's financial well-being and strategic moves.

With an impressive cash reserve of $157 billion, this conglomerate showcases its exceptional financial prudence and preparedness for lucrative investment opportunities.

During this period, Berkshire Hathaway achieved impressive growth, with operating profit reaching $10.76 billion, a significant increase of 41%. 

Despite selling over $5 billion in stocks, the company's financial performance remained strong.

In contrast to the net loss of $12.8 billion for the quarter, the operating profit reflects robust growth and resilience.

The company's earnings per share of $4.96, surpassing the estimated $4.59, was a pleasant surprise for the market, boosting investor confidence.

The stock has displayed resilience throughout the fiscal year, with an impressive 12% uptick. Although October saw a slight decline of 2%, November has seen a positive turnaround, with an almost 2% increase.

Berkshire Hathaway's stock price faces conflicting bullish and bearish forces, which is evident in its technical analysis.

Last year's high at $362 has acted as a strong resistance level, hindering any significant upward movement.

Despite briefly surpassing this level in August and September, reaching a record high of $373 in September, the price was unable to continue rising and began to decline.

However, the following decline found support around the daily 200 simple moving average, approximately $331.

The stock's recent behavior indicates a strong recovery from the support level and an upcoming attempt to surpass the resistance.

If the stock maintains its current momentum, there is a potential for significant price movements and a potential breakout.

Breaking through the resistance could mark a new phase in Berkshire Hathaway's market performance.

After the closing bell on Friday, November 3, the stock closed at $351,81, trading up by 0.84%.