PBR may move upwards, after very bad news the stock moved downwards contrary to the segments.
It is most likley after deeper concernes will discussed away in the news, it will have a good upwards move possible till 11$ or more.
On Watchlist, for maybe a position this or next week.
Buying here with a stop on a close below 9.81. Target is 12 or higher. Oil has been strong as well as emerging markets so hopefully that will also be a catalyst besides the technical set-up
I have modified two scripts to show the Jake Bernstein Moving Average Channel (MAC) along with the Williams A/D on the same chart. PBR is turning bearish. The Williams A/D is below moving below its 57 day SMA with two bars completely below the channel. The 3 day SMA of the lows is used as the trailing stop.
EMA55 Crossed EMA144, Start of Uptrend
EMA55/144 as support Zone
Entry 10
Stop 9
Target 13
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan is less than 1% of my account.
If you like this idea, please use SIM/Demo account to try it.
PETROBRAS ON N2
Our contribution calmed to the highest possible summit and continues to rise to When the resistance line is in contact, it stops dropping until contact is made This line of support must be purchased with good market monitoring The latter also knows very large volumes of buyers and liquidity Find strong
