In PBR we had 2 long periods looking at the Monthly chart: The first was "to the moon" and the second "to the Abyss". On the chart is like a huge inverted V pattern. Since then, PBR started to regain some ground with a nice constructive move. I believe that we are at the start of a long term uptrend which could lead PBR towards $30 and even higher. Looking at shorter term periods (charts), it seems that we are in a 5 Waves up pattern. We had Wave 1 and 2 and we have entered Wave 3 up which could be impressive. Wave 4 (down) and 5 (up) will follow.
Note: Upcoming elections are influencing investors' behavior at the stock market. "Brazilian stocks present profits across sectors ahead of the country's Oct. 7 presidential elections as polls show Jair Bolsonaro increasingly likely to block the leftist Workers Party from returning to power..."