Buffett Just Left Berkshire's Chair. The Stock Is Testing a Key Technical Level

Warren Buffett’s departure from Berkshire Hathaway Inc. (NYSE: BRK) chairman role comes at an interesting point for the stock. Berkshire stock is sitting almost directly on its short- and medium-term moving averages. That gives investors a clean technical level to watch as Berkshire moves into its next leadership chapter.

Buffett Hands Over the Chair

Berkshire said Friday that Buffett has become chairman emeritus and will remain on the board, while Howard G. Buffett takes over as chairman. Greg Abel remains CEO after assuming that role earlier this year. The distinction matters for Berkshire shareholders. Abel runs the company’s operations, while Howard Buffett’s new role centers on the board and preserving Berkshire’s culture. Warren Buffett will continue providing his perspective as a director. The transition arrives after...