Petrobras: double bottom rebound as buyers step back in
Petrobras rebounds off a double bottom to close the week up 4.2%
Petrobras: double bottom rebound as buyers step back in
Our view last week
Week 6 of the sell signal on Petroleo Brasileiro, with the week just closed essentially flat (+0.3%). The technical picture has turned more nuanced: CMF slips further into distribution territory, but momentum stays compressed and price is squeezed between the first resistance and the first support, a sign of a decline that holds but without fresh drive.
This week's summary
A clean double bottom in the 42 area brought buyers back to Petrobras: a 7% daily rebound and a week that closed at +4.2%, with 85% of volume on the buy side. Compared with a week ago, when price sat squeezed with no real drive between resistance and support, something is shifting for Petrobras — though momentum and money flow haven't fully confirmed it yet. The sell signal, now in its seventh week, is still in the money.
Ongoing decline
·7th week from start
·Rest of the World stocks
·T2
·📅 Earnings · Aug 6
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IQS Phase
66
in tension
Signal Strength
2
decline fading out
Sizing
MINIMUM
Ranking
#21 / 21
Rest of the World stocks
Trade P&L %
+5.44%
from signal to today
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