Petroleo Brasileiro SA Stock Forecast
Petroleo Brasileiro SA stock upgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)
The Petroleo Brasileiro SA stock price fell by -0.585% on the last day (Tuesday, 25th Jun 2024) from $13.67 to $13.59. During the last trading day the stock fluctuated 1.26% from a day low at $13.49 to a day high of $13.66. The price has been going up and down for this period, and there has been a -2.86% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -407 thousand shares and in total, 3 million shares were bought and sold for approximately $40.57 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.08% during the next 3 months and, with a 90% probability hold a price between $11.17 and $13.37 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PBR-A Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 5.59%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Petroleo Brasileiro SA stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $14.44. On a fall, the stock will find some support from the short-term average at $13.30. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Petroleo Brasileiro SA stock
Petroleo Brasileiro SA finds support from accumulated volume at $13.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.170 between high and low, or 1.26%. For the last week, the stock has had daily average volatility of 1.75%.
Our recommended stop-loss: $12.98 (-4.47%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (PBR-A) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Petroleo Brasileiro SA to open at $13.58, and during the day (based on 14 day Average True Range), to move between $13.23 and $13.95, which gives a possible trading interval of +/-$0.364 (+/-2.68%) up or down from last closing price. If Petroleo Brasileiro SA takes out the full calculated possible swing range there will be an estimated 5.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.58 (0.07%) than the resistance at $14.84 (9.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Petroleo Brasileiro SA stock A Buy?
Petroleo Brasileiro SA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.634 Hold/Accumulate Upgraded
Predicted Opening Price for Petroleo Brasileiro SA of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $13.58 ( 0.0981%) | $13.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PBR-A
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.75 | 1.15% |
| R2 | 13.68 | 0.675% |
| R1 | 13.64 | 0.380% |
| Price | 13.59 | |
| S1 | 13.51 | -0.576% |
| S2 | 13.47 | -0.87% |
| S3 | 13.41 | -1.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.59 | 14.72% |
| R2 | 15.03 | 10.60% |
| R1 | 14.84 | 9.20% |
| Price | 13.59 | |
| S1 | 13.58 | -0.0736% |
| S2 | 13.21 | -2.80% |
| S3 | 12.91 | -5.00% |
PBR-A Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2024 | Jun 13, 2024 | Sep 27, 2024 | $0.363 | 2.67% |
| 2 | May 03, 2024 | May 03, 2024 | Jun 27, 2024 | $0.681 | 5.01% |
| 3 | Apr 26, 2024 | Apr 26, 2024 | May 28, 2024 | $0.407 | 2.78% |
| 4 | Apr 22, 2024 | Apr 22, 2024 | May 28, 2024 | $0.343 | 2.35% |
| 5 | Nov 13, 2023 | Nov 22, 2023 | Feb 27, 2024 | $0.274 | 1.59% |
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