Confirmation holds, though volume calls for caution
Petrobras adds 3.8% and confirms its new buy signal, though volume flags some caution
Confirmation holds, though volume calls for caution
Our view last week
A fresh buy signal has just triggered on Petrobras. After the double bottom seven days ago, the stock added another 3.7% this week and is now pressing against its 7-day high, in the 46.4 area, with 82% of Friday's volume on the buy side. The weekly picture stays moderately bullish, though a distribution signal calls for caution. Petrobras ranks 2nd among the 5 fresh Rest of World Longs in this week's technical analysis.
This week's summary
Petrobras' stock confirms the buy signal that fired last week: after the double bottom in the 42 area, the stock adds another 3.8% and presses against its recent highs, above the 48 area. The weekly picture stays bullish, though the first caution signals are showing up in volume. In this technical analysis, Petrobras now ranks 5th among the open Longs on Rest of World stocks.
Open BUY
·1st week from start
·Rest of the World stocks
·T1
·📅 Earnings · Aug 6
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IQS Phase
52
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#5 / 13
Rest of the World stocks in progress
Trade P&L %
+3.80%
from signal to today
Rank position
ranks 5th among the 13 Longs already running for titoli resto del mondo in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorEnergy
Benchmark ETFXLE
Sector regimein positive regime
Performanceweekly +3.36% · monthly +11.29%
PETR3 belongs to the energy sector (reference ETF XLE). The sector is classified in positive regime according to our weekly reading.
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