PETR3 trade ideas
$PBR long ideaPBR is a Brazilian oil company that does well following the price of Crude which has been showing relative strength against other equities. With the certainty of higher rates, higher dollar and more uncertainty of the near term; the market will most likely remain bullish on Oil, Gas, and commodities.
Unusual Options Activity points at the a price of $16 and $17 by end of October.
Nice bottoming wedge breakout on PBR today. Longing here with 9/16 16c.
OptionsSwing Analyst
Daniel Betancourt
PetroBrasilBrazilian oil is on the rise as they are discovering more oil rigs, and there is going to be a more foreign and internal investment in the company thanks to the Amazon Rainforest discovery.
Cool Fact: ¿What is the country with the most percentage of black people?
You may answer Brazil, but in reality in history 70% of Brazilians are white.
$PBR ~ Correction in progress...As shown, majority of energy stocks are starting to correct. Looking into the future, we believe these companies will provide amazing opportunities. We expect barrels of oil to reach $300-400 a barrel by the end of the decade. Recommend tracking this sector very closely for amazing opportunities.
Petrobras. Chasing oil prices.Petrobras (Petroleo Brasileiro) is the largest Brazilian oil and gas company. The company is in the top 20 largest oil and gas companies in the world by capitalization with a value of $69.9B. Petrobras also ranks 7th in terms of oil production, producing almost 2 million barrels per day (Saudi Aramco produces 10.9 million and ranks 1st).
➡️ On the daily chart, the rise after March 2020 forms zigzags, suggesting that this move represents the start of an initial diagonal. In the second half of the past year, the price consolidated above the broken level of $9.3 - $9.6 , forming a triangle presumably in the {b}of3 wave of the diagonal.
➡️ On the hourly chart, stock is growing along with oil prices, moving within the wave (iii)of{c}of3. This suggests a slight correction after a sharp growth of almost 20% over the past 10 days.
📈 The estimated goal of the movement is the level at which the shares were traded before the start of the COVID - $14.5 - $15 per share. As well as the local maximum of 2019, which the price tested as many as 5 times – $17 .
➖ Local levels, where my wave interpretation should be revised are $10.7 , $9.2 and $7 .
The PBR is out of its bearish channelEverything is clear in the picture.
The downward channel that has been broken upwards and today's red candle can be considered as a pullback.
The Brazilian Stock Exchange index may drop about five percent after this and then move up, so it can put this share under a bit of pressure, but overall my opinion is bullish in the medium term. Oil prices have risen dramatically and for the next two months there is no news of Iran's return to the JCPOA and the oil market (away from sanctions) and it seems that the sentiment is positive for now.
The company's report next week is also very important, so please review any transaction by yourself.
That was just my opinion and there is no certainty
I'll be happy to share your opinions with me.
PBR going out of the bullish flag + Wyckoff LPS and test. 07.12.2021
NYSE:PBR
GFS 70,69
with the bullish flag formation, which the price exited already, there's a good chance of the price going higher if it brakes the $11.14 point.
Often a bullish flag suggests Wyckoff reaccumulation, which is evident here, with the price reaching the 'TEST' in the last phase last week. I'm keeping my eyes for longs this or next week with PBR.
consolidation mode active 💯PBR has been stuck in consolidation for half a year now, and like I said many times before consolidation can last a few weeks or a few years.
with these plays its important to wait for a confirmation of a breakout past a certain resistance zone.
in PBR's case over 12.4 we can target 15.56 and 16.86! under 9.15 we can target 7.19 and 6.07. for now I am neutral
goodluck traders, like and follow for more! 💘
Petroleo Brasiliero up for a move up. PBRLast 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!