Domino’s Pizza (DPZ) shares jumped in extended trading on Thursday after a filing revealed that Warren Buffett’s Berkshire Hathaway (BRK.A; BRK.B) had 🔯taken a stake in the world’s larg🎶est pizza chain.

According to Berkshire’s 澳洲幸运5官方开奖结果体彩网:13-F filing released by the U.S. ♌澳洲幸运5官方开奖结果体🥂彩网:Securities and Exchange Commission (SEC) late Thursday, the conglomerate bought nearly 1.3 million Domino’s shares that had a market value of about $550 million as of Sept. 30, its only sizable new equity holding during the latest quarter.

Domino’s shares have gained around 6% since the start of the year through Thursday’s close, significantly underperforming the 澳洲幸运5官方开奖结果体彩网:S&P 500’s 25% return over the same period. The pizza chain’s shares fell sharply in July after it forecast🐎 weaker store openings and slowing sales in the second half of 2024.

The stock gained nearly 8% to around $470 in after-hours trading 𓂃Thursdꦦay.

Below, we navigate the 澳洲幸运5官方开奖结果体彩网:technicals on the Domino's chart and ide🎀ntify important price levels worth watching out for.

Symmetrical Triangle Retest

Domino’s Pizza shares broke out above a 澳洲幸运5官方开奖结果体彩网:symmetrical triangle earlier this month before finding selling pressure near the 澳洲幸运5官方开奖结果体彩网:200-day moving average and retracing towards the☂ pattern’s top trendline.

However, the stock sits poised to resume its bullish price momentum on 🧔Friday following news of Berkshire’s stake in the stock.

Let’s take a look at three important overhead levels on the pizza maker's chart and also point out a key support area that investors may be watching.

Important Overhead Levels to Monitor

The first overhead level to watch sits around $473, an area where the shares could encounter 澳洲幸运5官方开奖结果体彩网:resistance near a trendline that connects the prominent April澳洲幸运5官方开奖结果体彩网: swing low and a series of simi✤lar trading levels on the chart prior to the stock’s mid-July earnings-♛driven plunge.

A move higher could see the shares rally to the $505 level. Investors may seek to 澳洲幸运5官方开奖结果体彩网:lock in profits in this region near the April peak, which closely aligns with the May trough and early July 澳洲幸运5官方开奖结果体彩网:countertrend high.

Further upside could fuel a move to around $535, a location about 23% above Thursday’s closing price that is likely to attract significant attention near a 澳洲幸运5官方开奖结果体彩网:double top that formed on the ch꧒art between April and June.

Key Support Level to Watch

During 澳洲幸运5官方开奖结果体彩网:pullbacks, investors should keep a close eye on the $435 level. This area on the chart may attraܫct buying interest near the symmetrical triangle’s initial breakout area, which also roughl𒊎y aligns with a range of comparable trading levels dating back to late January.

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