 Welcome traders to another Tickmail Earnings Report preview with me, Patrick Mullerley. For Jumping Today's report, it's important that we understand the risk disclaimer. The material provided is for information purposes only and should not be considered as investment advice. The views, information and opinions expressed by me in this recording are solely mine and they're not indicative or representative of those held by Tickmail UK or Tickmail Europe Limited. So, let's jump in today's report. We are looking at Berkshire Hathaway, who announced earnings over the weekend and will file before the market opens today. Berkshire Hathaway reported Q1 financial year 2022 earnings that exceeded analyst expectations. Earnings per share, though, were down by 51% year over year, but 23.4% better than analyst forecasts. Revenues for the first quarter of 2022 were 68.832 billion down 2.1% year over year and missing the estimates by 5.6%. Note that this revenue figure is the sum of operating revenues from Berkshire's operating subsidiaries, which account for 70.810 billion. The pre-tax loss on Berkshire's investments and derivative contracts was 1.978 billion. In the first quarter of 2021, these figures were 64.59 billion and again are 5.7 billion respectively. In the first quarter of 2022, Berkshire Hathaway recorded an after-tax net loss of 1.58 billion on investments and derivative contracts. The company reported a gain of 4.693 billion in the same period 2021, operating earnings, which includes these gains were 7.04 billion compared to 7.18 billion in the same course for 2021. This was a slight improvement of 0.3% year over year, but 7.7% above the estimate. The operating earnings figures that Berkshire reports are calculated after income taxes and excluding attributable to non-controlling interest. Berkshire spent approximately 3.2 billion on share repurchases, stock buybacks in the first quarter of 2022, buybacks included both its Class A and its Class B common stock over the past year. Berkshire Hathaway's shares have provided a total return of 20.8% outperforming the S&P 500 return of negative 0.03%. So let's look at some of these statistical patterns of how the stock might trade today. Stock has moved higher in the immediate aftermath earnings, 8 out of 12 previous reports. On average, the stock moved up 0.4% in the first day after trading. Based on the previous 12 earnings releases, Berkshire stock is more likely to trade higher one day after earnings for an average gain of 0%. Stock has moved higher one week after earnings, 50% of the time out of the previous 12 reports, and an average has moved up 0.3%. Let's take a look at the options market and what it's telling us. Options traders are pricing a 2.7% move on earnings, and the stock has averaged 2.2% in recent quarters. From a flow and sentiment perspective, on Friday there was some notable buying, 1224 contracts of a $320 put expiring May 20th. Options order flow is in the main bearish. Investor sentiment going into the earnings release has 60% expecting an earnings beat. Stock is currently 7.4% above its 200-day moving average, which comes in at $362. So let's take a quick look at where there might be an opportunity to trade today in Berkshire stock. We're sitting on this daily trend line just above it at the 319 handle. If we get a close through there, I will be looking for further downside to complete a potential five-wave sequence from the highs here, and that should have us testing back into support at the 293 area. From there, I'd watch for the potential for bullish reversal patterns to play the long side, at least looking for a three-wave counter trend move back up to test the underside of this broken trend line, which will be coming in around $333. If, however, we don't find buyers into this first support zone, then we look for a deeper pullback into the high-volume node at $279.27. At this stage, difficult to get meaningfully bearish on Berkshire unless we take out this weekly trend line, and that comes in at $298. As always, traders, plan the trade, trade the plan, and most importantly, manage your risk. Until next time, thanks very much.