Petrobras rallies 5.4% as the energy sector joins in
Petrobras stock climbs 5.4% as its ADX turns up after 15 weeks of decline
Our view last week
Petrobras stock bounces 2.5% this week, snapping back cleanly off its 20-day moving average after last week's pullback. Weekly technical analysis confirms a bullish structure with no warning flags at all, and the energy sector is running right alongside it, with the reference ETF XLE up 7.67% this week. The buy signal, now in its 4th week, stays confirmed: Petrobras climbs to 4th among the 6 open buys on Rest of the World stocks.
This week's summary
Petrobras stock climbs 5.4% this week, and the ADX turns higher after 15 straight weeks of decline, a sign the trend is regaining strength. The price holds well above its 50-week moving average, and the energy sector runs right alongside it, with the XLE ETF up 7.5% this month. Petrobras stays inside a solid buy signal, with the weekly technical analysis confirming the bullish structure.
IQS Phase
58
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#4 / 5
Rest of the World stocks in progress
Trade P&L %
+7.71%
from signal to date, no stop loss
Rank position
ranks 4th among the 5 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 strong phase
Performanceweekly +2.79% · monthly +7.50%
PETR3 belongs to the energy sector (reference ETF XLE). The sector is classified in strong phase according to our weekly reading.
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