Petrobras, open buy signal
Petrobras jumps 7.1% and already hits the model's first target
Our view last week
Petrobras stock closes the week nearly flat (-0.4%), with sellers slightly prevalent on the last bar and daily money flow in negative territory. On the weekly chart, though, the picture stays constructive: price works boxed between the 20-week average, in the 18 area, and the 7-day low, in the 17.6 area. This technical analysis follows the buy signal, now in its fourth week, with signal strength still high at 70 out of 100 and the energy sector in full swing.
This week's summary
Last week Petrobras was boxed between its 20-week average and the 7-day low; this week it breaks out with a 7.1% jump, above the 50-week average. The energy sector backs the move, sharply higher on both the week and the month. On the daily chart, though, the stock has traced three lower highs in the 19 area: a near-term caution flag, even as the weekly structure stays constructive. The buy signal is now in its 5th week, and the trade is already in profit.
IQS Phase
66
in tension
Signal Strength
70
high · wide move
Sizing
FULL
Ranking
#20 / 167
US stocks in progress
Trade P&L %
+6.57%
from signal to date, no stop loss
Rank position
ranks 20th among the 167 Longs already running for US stocks in our ranking, with a signal strength of 70 out of 100.
Sector context
SectorEnergy
Benchmark ETFXLE
Sector regimein strong phase
Performanceweekly +2.79% · monthly +7.50%
PBR belongs to the energy sector (reference ETF XLE). The sector is classified in strong phase according to our weekly reading.
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