Petroleo Brasileiro SA Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy Signal from Moving Average: Indicates potential upward movement.
Sell Signal (MA)
Sell Signal from Moving Average: Indicates potential downward movement.
AI Analysis of PBR-A
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Petroleo Brasileiro SA stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session
(Updated on Oct 03, 2024)
Buy candidate since Oct 03, 2024
The Petroleo Brasileiro SA stock price gained 0.799% on the last trading day (Thursday, 3rd Oct 2024), rising from $13.76 to $13.87. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.47% from a day low at $13.57 to a day high of $13.91. The price has risen in 7 of the last 10 days and is up by 3.66% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately $107.87 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Petroleo Brasileiro SA stock with a 90% probability to be traded between $11.89 and $14.04 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.
PBR-A Signals & Forecast
Mostly positive signals in the chart today. The Petroleo Brasileiro SA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $13.49 and $13.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, September 20, 2024, and so far it has risen 6.12%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Petroleo Brasileiro SA stock
Petroleo Brasileiro SA finds support from accumulated volume at $13.24 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.335 between high and low, or 2.47%. For the last week the stock has had daily average volatility of 2.24%.
Our recommended stop-loss: $13.26 (-4.39%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (PBR-A) For The Upcoming Trading Day Of Friday 4th
For the upcoming trading day on Friday, 4th we expect Petroleo Brasileiro SA to open at $13.78, and during the day (based on 14 day Average True Range), to move between $13.55 and $14.19, which gives a possible trading interval of +/-$0.321 (+/-2.31%) up or down from last closing price. If Petroleo Brasileiro SA takes out the full calculated possible swing range there will be an estimated 4.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.07 (1.44%) than the support at $13.24 (4.54%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Petroleo Brasileiro SA stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Petroleo Brasileiro SA stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score:
2.902
Buy Candidate
Upgraded
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Predicted Fair Opening Price
Predicted fair opening price on October 4, 2024 - $13.78 ( 0.637%). 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 | 14.12 | 1.78% |
| R2 | 13.99 | 0.86% |
| R1 | 13.91 | 0.286% |
| Price | 13.87 | |
| S1 | 13.65 | -1.56% |
| S2 | 13.57 | -2.13% |
| S3 | 13.45 | -3.05% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.43 | 4.04% |
| R2 | 14.18 | 2.24% |
| R1 | 14.07 | 1.44% |
| Price | 13.87 | |
| S1 | 13.24 | -4.54% |
| S2 | 13.19 | -4.90% |
| S3 | 13.16 | -5.12% |
PBR-A Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 23, 2024 | Aug 23, 2024 | Nov 29, 2024 | $0.354 | 2.55% |
| 2 | Jun 13, 2024 | Jun 13, 2024 | Sep 27, 2024 | $0.363 | 2.74% |
| 3 | May 03, 2024 | May 03, 2024 | Jun 27, 2024 | $0.681 | 4.98% |
| 4 | Apr 26, 2024 | Apr 26, 2024 | May 28, 2024 | $0.407 | 2.78% |
| 5 | Apr 22, 2024 | Apr 22, 2024 | May 28, 2024 | $0.343 | 2.35% |
FAQ
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