Back at the edge of the all-time high
Petrobras gains 6.7% and returns to the edge of its all-time high as ADX keeps rising
Our view last week
In a rough week for energy stocks, with the XLE ETF down 3.5%, Petrobras gave up just 0.7%, and for a 2nd straight week sellers stayed ahead in the tape. Petrobras stock keeps its uptrend intact: technical analysis shows ADX rising for 4 weeks and MACD above its signal line, even as the histogram has stopped growing. Price action trading reads a push that is slowing, and Petrobras remains among our weekly buy signals, with the trade 15.8% above entry.
This week's summary
Petrobras closed the week up 6.7% and is back at the edge of its all-time high, in an area reached twice in September that no session has turned away yet. A week ago the push was slowing; now technical analysis shows ADX rising for 5 weeks, the MACD histogram growing again and money flow improving once more. Petrobras stock stays among our weekly buy signals, with the trade 23.6% above entry: price action trading reads a move that continues.
IQS Phase
79
in tension
Signal Strength
59
medium
Sizing
STANDARD
Ranking
#11 / 20
Rest of the World stocks in progress
Trade P&L %
+23.60%
from signal to date, no stop loss
Petrobras San Paolo (PETR3) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 11th among the 20 Longs already running for titoli resto del mondo in our ranking, with a signal strength of 59 out of 100.
Sector context
SectorEnergy
Benchmark ETFXLE
Sector regimein positive regime
Performanceweekly +1.26% · monthly -3.50%
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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