Watch These Domino’s Pizza Price Levels as Stock Jumps After Berkshire Takes Stake | Global News Avenue

Domino’s Pizza (DPZWarren Buffett’s Berkshire Hathaway Inc.BRK.A; BRK.B) took a stake in the world’s largest pizza chain.

According to Berkshire’s 13-F Filing Published by United States Securities and Exchange Commission (SEC) Late Thursday, the group bought nearly 1.3 million shares of Domino’s, which had a market value of about $550 million as of Sept. 30, its only large new holding in the latest quarter.

Domino’s stock price has risen about 6% since the beginning of this year to Thursday’s close, significantly underperforming the broader market. S&P 500 Index The return over the same period was 25%. The pizza chain forecast fewer store openings and slower sales in the second half of 2024, causing its shares to fall sharply in July.

The stock rose nearly 8% in after-hours trading Thursday to around $470.

Next, we navigate technical Identify important price levels to watch on a domino chart.

Symmetric triangle retest

Domino’s Pizza shares breakout symmetrical triangle Earlier this month, after finding selling pressure approaching 200-day moving average and retracement towards the top trendline of the pattern.

However, the stock is expected to resume its bullish price trend momentum News broke Friday that Berkshire Hathaway had increased its holdings in the stock.

Let’s look at three important overhead levels on a pizza maker’s chart and point out one key support Areas investors may be paying attention to.

Important spending levels to monitor

The first management level to watch is around $473, an area the stock could encounter resist Close to connecting the famous April trend line swing low and a series of similar trading levels on the chart before the stock’s earnings-driven plunge in mid-July.

If higher, the stock could rise to the $505 level. Investors may seek Lock in profits It’s approaching April in this area peakclosely related to the May trough and early July Contrary to the trend High.

Further gains could push the price to around $535, which is about 23% higher than Thursday’s close and could push prices closer to $535. double top Formed on the chart between April and June.

Key support levels worth paying attention to

period callbackInvestors should keep a close eye on the $435 level. This area on the chart is likely to attract buying interest near the initial breakout area of ​​the symmetrical triangle, which is also roughly consistent with a series of comparable trading levels dating back to late January.

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As of the date of this writing, the author did not own any of the securities mentioned.