PETR4F trade ideas
Sell PetroBras around double topBased on RSI55 div on a daily chart and bearish structure look forward for consolidation around 10.20/share and further reversal.
Time horizon: 1-2 quarters.
Initial target and stop as it drawn on the chart.
Short Petrobras (PETR4) on Double TopShorting PETR4 as it made a double top after a long uptrend from late January 2016
Where there's no value, price shouldn't be going higherWe keep seeing activity on this kind of stock. Very unfortunate for Petrobras being involved on this massive corruption scandal created by the last administration, in fact, I liked to call it as I've coined before, "One of the biggest heist of all times". Sometimes we caught myself thinking about this. Who knew everything started far back there with some bribes for selling cardboard shipping boxes for the domestic post service.
This is a clear example to remind us all of things that doesn't make sense in finance and in the Financial Market as a whole. No expert analysis could help either nor different approaches to interpret such moves that occusionally happen. Petrobras is clearly a dying with a very old and unsustainable model which would be feasible only in case the barrel jumped to above $150 again and markup it's believed to be much higher than that. But as one said once, "where's hope there's always a chance". I really wish good prosperous and better times Co. but that is not up to me. Good Luck for all the holders out there.
$PBR rising wedge on daily$PBR rising wedge on daily into .764 retracement.
Jan '17 5 calls sold on the bid - $442K trade.
Petrobras ($PBR) above trend-line but can we see follow through?Hi Traders,
I am watching this market very carefully as $USOIL just entered in a bearish market. Knowing that, $PBR will find very very hard to continue moving higher with oil prices crushing lower. Also divergence is very clear here (price action made a new high but RSI did not).
What I would love to see soon: I will wait to see how we close this week, if we close bellow 8.00, this will a great confirmation AND we will have a hanging-man candlestick pattern in the chart too (one of my favourite candlesticks).
So lets be patient and wait to see the weekly close and like I said, if it closes bellow 8.00, I will short with SL above the high with initial target at 5.00.
Thank you
PETR4 - After the cupLook what just happen after the cup... Just after publishing the "just drink the cup"
So, chart .... they are real.
Down timeNYSE:PBR As we can see the price exceeded the last peak ($ 8.01) and reached the top of the trend, now we have a bearish wave where the price seeks position C.
Trade Wisely!
PBR is in an ascending wedge while USOIL prices are falling.PBR is in an ascending wedge while USOIL prices are falling. PBR is testing resistance at $7.50 for the third time. USOIL tested support at $46 for the third time and broke down through that support. It now appears to be in a downward channel. Being new to this, I opened a short position on PBR two days ago and added to it yesterday. Ideally, I should have waited until PBR breaks downward . I will short PBR hard if it breaks down while USOIL is also falling.
I am new to this with no track record of success. Don't make any trades based solely on my posts.
PBR INSIDE A FLAT CORRECTIONGap closed and new impulse started, should stop at 7.45 or 8 and then fall in 5 waves to 5.45 to finish this flat correction. Then a new upwards cycle should start
PBR Island reversal, target 5.50$Island reversal spotted at the end of B wave, will expect at least a fall until 5.50 forming a flat correction. If 5.50 support is broken next target is 4.60/4.50.
My analysis will become void if PBR reaches 6.90 closing the gap in the Island reversal.
