Warren's not going anywhere.
That's the message Berkshire Hathaway Inc. (BRK.A) (BRK.B) is trying to convince investors of, following the move to add two senior executives to the company's board. Gregory Abel and Ajit Jain, two men seen as potential successors to 87-year-old Buffett, will take vice chairman roles on Berkshire's board, increasing the group's size from 12 to 14 directors.
Meanwhile, Berkshire has made it clear that neither Buffett nor 94-year-old Vice Chairman Charlie Munger will be changing their current roles in Berkshire Hathaway.
For his part, Buffett has been making it clear that he's still in charge of a big chunk of Berkshire's capital allocation decisions, weighing in on the U.S. tax cut as a boon for stock market investors in a CNBC interview Wednesday.
That attractiveness extends to shares of Berkshire Hathaway -- Berkshire's uptrend is alive and well as the calendar flips to 2018.
To figure out how to trade it, we're turning to the charts for a technical look:
You don't need to be an expert technical trader to figure out Berkshire's technical trajectory right now -- instead, the price pattern taking shape in shares of Berkshire Hathaway is about as basic as they get. This big stock has been moving up and to the right since last fall, charging higher on every successive test of trendline support down at the bottom of this stock's trading range.
Berkshire's last successful test of trendline support came back in mid-November, and shares have been heading higher ever since. While this stock's positioning in the middle of its trend channel means that shares could have room to move lower without violating support, new all-time highs above the $200 level make higher ground more likely in the near term.
One thing to take note of with Berkshire's chart is relative strength, the side-indicator down at the bottom of the Berkshire chart. This stock's relative strength line has been range-bound over the course of its entire rally, trading in a sideways channel. That's an indication that while Berkshire's trend absolutely looks great here, shares are primarily mirroring the S&P 500's strong performance right now, not systematically exceeding it.
In other words, if you want to outperform the market with Berkshire Hathaway, timing is everything -- it makes sense to wait to be a buyer until the next successful bounce off of trendline support.
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