Petroleo Brasiliero up for a move up. PBR

Last time when I analyzed this stock, we seen a move to the downside, confirming a zigzag as one of the potential patterns in this particular case. A bit of time has passed since then and it seems that we have clearly begun on the first instances of that coveted Wave C. We are bullish in a generally, currently bearish stock.

We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!