Petrobras breaks higher: a fresh buy signal fires
Petrobras jumps 3.8% and triggers a fresh buy signal above the 18.16 area
Petrobras breaks higher: a fresh buy signal fires
Our view last week
Petrobras stock closed the week up 7.5% on near-total buy volume, 98%, after three straight losing weeks, the last one down 8.9%. The bounce lands right where last week's technical analysis had already flagged a softening picture, with the double bottom in the 16 area. Price is now pressing into a tight resistance band just above the 17.4 area, while RSI and ADX both say the decline is losing its edge.
This week's summary
Petrobras shares add another 3.8% and clear the breakout above the 18.16 area, right where last week's rebound off the double bottom in the 16 area had stalled. That triggers a fresh buy signal — fifth among the 20 fresh US Longs, with a signal strength of 66 out of 100. Buyers are firmly in control, 90% of last session's volume, though the week also flags an early distribution signal worth watching.
IQS Phase
49
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#5 / 20
New us stocks
Trade P&L %
+0.00%
from signal to today
restricted Platinum content