Petrobra (PBR): Price Now Near $9.56; Daily Chart Shows Downtrend on 100 Day Basis

The Hourly View for PBR

At the moment, PBR (Get Ratings)’s price is up $0.04 (0.37%) from the hour prior. The hourly chart shows that PBR has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Out of Petroleum and Natural Gas stocks, PBR ranks 66th in regards to today’s price percentage change.

PBR’s Technical Outlook on the Daily Chart

At the moment, PBR’s price is up $0.34 (3.69%) from the day prior. It’s been a feast for bulls operating on the daily timeframe, as PBR has now gone up 4 of the past 5 days. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 day moving average, resulting in them so that price is now turning above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows PBR’s price action over the past 90 days.


For PBR News Traders

Investors and traders in PBR may be particularly interested in the following story that came out in the past day:

Petrobras (PBR) Places $2.3B FPSO Order to Keppel Shipyard

Petrobras (PBR) awards a contract to Keppel Shipyard to build an FPSO vessel, which will have a distillation capacity of 180 thousand barrels of oil and 7.2 million cubic meters of gas per day.

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