Take a look at this share price of Berkshire Hathaway after Warren Buffett has announced retirement

The stocks of Berkshire Hathaway (BRK.B) will be on the radar screen of the investors, after the legendary investor Warren Buffett announced on Saturday at the annual meeting of the Konglomerate to step down as CEO at the end of this year.

The 94-year-old Buffett, who has headed the company for 60 years, said that he would be handed over the reins to the deputy chairman Greg Abel, who has long been identified by Berkshire as Buffett's successor. Buffett's retirement marks the end of an era that has recorded his place as an investment icon and American success story after turning a podium in a trillion dollar conglomerate with successful companies in many sectors.

Berkshire Shares rose to a new record high on Saturday before Buffett's announcement on Saturday. Since the end of last week, the share has increased 19% since the beginning of the year and has been 35% higher in the past 12 months. For comparison: The benchmark S&P 500 has added 3% and 11% over the same periods.

In the following we take a closer look at the technical data in Berkshires diagram and identify the most important price levels that investors will probably observe.

Rising triangular outbreak

The stocks of Berkshire broke out in the trading session on Friday over the upper trend line of a rising triangle and possibly put the stage for a continuation of progress.

In the meantime, the relative strength of index (RSI) confirms the Bullish Prize with a reading above the 50 threshold, although the indicator is below the over -tasted level and offers enough space for the share to move.

If we apply several technical analysis techniques in Berkshires diagram to identify important overhead areas that are worth observing, and at the same time find two important support levels that could come into play during future withdrawals.

To observe important overhead areas

Measured movement goal

In order to project an upward destination with the measured movement technology, we calculate the distance between the two trend lines of the rising triangle near the start of the pattern and add this outbreak point on Friday. Therefore, we add 50 to 535 US dollars, which predicts a target of 585 US dollars and about 8% above the closing course on Friday on Friday.

Beam sample destination

Investors can also use the bars sample tool to project a bullish goal. When using the technology in Berkshires diagram, we extract the price poles that exist from the beginning of February to the end of March and reposition them from Friday breakout.

This predicts a target of around 606 US dollars, around 12% above the Friday closure. We selected this previous step higher, since a breakout of an earlier rising triangle followed in the table to give an insight into how a similar upward trend has chosen when price actions occur.

To monitor decisive support levels

Closing below the upper trend line of the rising triangle could trigger an initial withdrawal in the share to around $ 519. This area in the table can be supported near the prominent Early März-Peak and a time of commercial activity that forms in the pattern.

After all, a more important retreat at Berkshire Shares could visit lower support at 490 US dollars. Investors in this region near the remarkable swing in early March can enter 50 days towards 50-day average during a break-in.

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Until the date on which this article was written, the author has none of the above securities.