Petroleo Brasileiro S.A. – Petrobras (PBR) “On a long-term technical basis, the stock (PBR) is trading below its 200-day moving average which implies it is in a negative trend.

The stock has support at 14.55 and 13.76. If the stock breaks down through support at 14.55 then it will probably continue lower to 13.76. The stock has resistance at 14.99 and at 16.12. If the stock breaks up through resistance at 14.99 then it will probably continue higher to 16.12. The 200-day moving average is at 14.99. This will also act as resistance. The stock has broken out of its long-term downtrend and is looking more positive recently. If the stock can form new support above 14.55 look for a rally to previous highs. The stock is extremely oversold according to the Stochastic Indicator (24.65), so look for a possible rebound soon. Confirm this with the Short-Term Opinion and Daily Opinion to keep from exiting prematurely.”