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November 15 Chart of the Day - Atlanta Braves Holdings

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Warren Buffett's Berkshire Hathaway, known for its diverse investments, made an $8 million investment on major-league baseball.

The Omaha, Neb.-based conglomerate took a new position in Atlanta Braves Holdings (BATRA), the holding company for the team that finished the recent baseball season with the league's best record. The Atlanta Braves last won the World Series in 2021.

Because we're big baseball people and just for fun we thought we'd take a look at their chart.

Given the limited amount of historical data we're going to keep our price action technical analysis review on the monthly chart.

We can see that the "Oracle of Omaha" may not be too bad at technical analysis himself as he positioned his investment at a major support/resistance line.  Sure, more downside could be coming but given the nature and fanfare around the investment price seemed to jump up from the support levels so far.

Well off its $54.94 all time high (ATH) and trading around $39 earlier today the $30-$35 zone appears to be a proverbial line in the sand area for the bulls to defend.  So yes Mr. Buffet seems to have selected an area on the chart that could benefit his position.

We're guessing that the Braves public relations and marketing department could have a lot of fun with this.  

Perhaps they'll even get him to throw out the first pitch on opening day 2024...

So what's next? 

We don't make predictions...

Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.

  1. Support/Resistance
  2. Trend
  3. Fibonacci 
  4. Supply/Demand Zones,
  5. Change Control Zones

Take a look at the charts and let us know what you think.  

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