After having gone through my usual routine of screening for high implied volatility rank/high implied volatility underlyings for plays this coming week, one thing stands out: the implied volatility is in petro, with stocks like CHK, SDRL, WFT, PBR and the like rounding out my top 10 IV list.* With OPEC talks approaching here, and "friskiness" in petro-based...
Bouncing off support from the 100 EMA, and longer term support. Look for a retest of first 30 Minute high. Target is the 200 EMA. I was entered on the Breakout.
On daily chart, it's 3rd day outside from the upper Bollinger Band. It means a calling for a interesting correction. On hourly chart, an overbought is present on RSI & Stochastic. MACD & Histogram shows a little weakness. On hourly chart, its target in 10.75 from a triangle breakout has been reached.
Shorting PETR4 as it made a double top after a long uptrend from late January 2016
$PBR rising wedge on daily into .764 retracement. Jan '17 5 calls sold on the bid - $442K trade.
Once again PBR has gone up way too far and too early. Despite REAL record apreciation this year the company still has more than US$100B of net debt and its main product ( Oil Brent ) is devaluing more and more.
PBR is in an ascending wedge while USOIL prices are falling. PBR is testing resistance at $7.50 for the third time. USOIL tested support at $46 for the third time and broke down through that support. It now appears to be in a downward channel. Being new to this, I opened a short position on PBR two days ago and added to it yesterday. Ideally, I should have...
Pullback coming on PBR to 6.36 in a wave iv of C, then final wave v of C. Fibs line up very nicely both on the impulsive C wave and the retracement levels of the entire wave 1 impulse. Techs signaling oversold, just in line with a bounce up in wave iv.
Divergence between CL1! , INDEX:XOI and NYSE:PBR . Very bearish for PBR, PBR.A, PETR4. Long (XOI) & Short (PBR) may be interesting.
PBR is correlated to oil prices, but that's not all. Out of a selection of other oil majors, PBR underperforms significantly when the starting month of August 2011 is chosen, a date I arbitrarily chose due to launch of a new industrial policy in Brasil (a proxy of changing economic policy). Note, however, work done by my friend, Raphael Geraldelli (related ideas),...
I've flagged Brazil's state-owned mega-energy firm Petrobras Brasileiro ADR (NYSE: PBR) because the SEC is investigating the energy firm for money-laundering and corruption, thus skewing Fitch Ratings of PBR. Since PBR owns a Texan refinery, PBR it is accountable under US jurisdiction. PBR has been found in violation of the Foreign Corrupt Practices Act and...