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...
Emerging markets have mostly struggled lately as the U.S. dollar climbed. That may have created an opportunity in Brazilian energy driller Petrobras.
Unlike other oil giants like Exxon Mobil and Chevron , PBR has barely moved in the last month as crude oil jumped. However, it closed above its 50-day simple moving average (SMA) on Friday and is continuing to...
PETROBRAS-ADR C is an integrated company operating in exploration, production, refining, retailing and transportation of petroleum and its byproducts at home and abroad.
Analysis:
This company impresses me from a financial perspective. This is a company that is managing their debt and cashflow during adverse times within an underperforming sector. I've seen that...
$PBR broke out of a bulling falling wedge. Right now price is trading below the key breakout zone at ~$10.90
If price can break above this resistance level expect further continuation to the upside.
Targets based on structure: $11.20 | $11.70
$PBR had a nice bull flag that resolved the pattern. Now that it shot up to our trend line target, it is consolidating. Will we see another bullish pattern form here? I think we might partially due to macro factors in regards to Oil and a steady rotation into devolving markets.
Description: PBR is trending higher and in an uptrend meaning that highs are getting higher and lows are getting higher. The uptrend line on the chart and the Trending Band Indicator (which measures trend) supports the Long Position.
Stats:
1. Ideal buy range: $9.7 - $10.1
2. Take profit: $12.08
3. Stop Loss: $9.38
4. Risk To Reward: 1 / 6
5. Accuracy Rating: 93%
NYSE:PBR
#PBR is now at the lower end of the channel
Following history of the chart is now set for upside
Managed to close above 50MA
MACD approving level above 0 (bullish)
RSI is gradually increasing
Risk/reward 2.63
