Petroleo Brasileiro S.A. – Petrobras (NYSE:PBR) Growth Stock For A Winning Portfolio
Brazil’s Petrobras expects “good news” regarding its ambitious asset sale program
Brazil’s state-run oil company Petroleo Brasileiro SA said on Monday it had begun the non-binding phase for the sale of four thermoelectric plants, as part of a broader divestment strategy to shed assets and pay down debt.
Three of the plants are located in Camaçari, in the state of Bahia and run on fuel oil, while another, which runs on diesel or natural gas, is located in Canoas, in the state of Rio Grande do Sul, the company known as Petrobras said in a filing.
Petroleo Brasileiro S.A.-Petrobras specializes in the oil, natural gas and energy industry.
The Company is engaged in prospecting, drilling, refining, processing, trading and transporting crude oil from producing onshore and offshore oil fields and from shale or other rocks.
Its segments include Exploration and Production, which covers the activities of exploration, development and production of crude oil, natural gas liquid and natural gas;
Refining, Transportation and Marketing, which covers the refining, logistics, transport and trading of crude oil and oil products activities, exporting of ethanol, and extraction and processing of shale;
Gas and Power, which is engaged in transportation and trading of natural gas produced in Brazil and imported natural gas;
Biofuels, which covers the activities of production of biodiesel and its co-products, and ethanol-related activities; Distribution, which includes the activities of its subsidiary Petrobras Distribuidora S.A., and Corporate.
Shayne Heffernan Trade Idea
“Our current price target of Petroleo Brasileiro will come in around $13.75 which will give the stock a price increase of +63.11%.”
Overall, the bias in prices is: Sideways.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 8.38.
The projected upper bound is: 9.51.
The projected lower bound is: 7.44.
The projected closing price is: 8.47.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 26 white candles and 23 black candles for a net of 3 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 61.6380. This is not an overbought or oversold reading. The last signal was a sell 6 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 55.36. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 7 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -40. This is not a topping or bottoming area. The last signal was a sell 6 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 4 period(s) ago.
Rex Takasugi – TD Profile
PETROLEO BRASIL closed down -0.080 at 8.430. Volume was 60% below average (consolidating) and Bollinger Bands were 33% narrower than normal.
Open High Low Close Volume 8.280 8.530 8.270 8.430 13,821,433
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 8.76 7.21 11.92 Volatility: 89 93 108 Volume: 29,600,212 30,694,886 25,119,752
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
PETROLEO BRASIL is currently 29.3% below its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of PBR at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on PBR and have had this outlook for the last 19 periods.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of the NYSE Stock Market.
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