Petroleo Brasileiro: New 52-Week Low Set Today (PBR)
Shares of Petroleo Brasileiro (NYSE:PBR) traded at a new 52-week low today of $7.34. So far today approximately 9 million shares have been exchanged, as compared to an average 30-day volume of 47.6 million shares.
Petroleo Brasileiro S.A. - Petrobras explores for and produces oil and natural gas. The Company refines, markets, and supplies oil products. Petrobras operates oil tankers, distribution pipelines, marine, river and lake terminals, thermal power plants, fertilizer plants, and petrochemical units. The Company operates in South America and elsewhere around the world.
In the past 52 weeks, Petroleo Brasileiro share prices have been bracketed by a current low of $7.34 and a high of $20.94 and are now at $7.36. The 200-day and 50-day moving averages have moved 0.35% lower and 3.47% lower over the past week, respectively.
Potential upside of 105.7% exists for Petroleo Brasileiro, based on a current level of $7.36 and analysts' average consensus price target of $15.14. Petroleo Brasileiro shares should first meet resistance at the 50-day moving average (MA) of $11.80 and find additional resistance at the 200-day MA of $14.20.
SmarTrend recommended that its subscribers protect gains by selling shares of Petroleo Brasileiro on October 16th, 2014 by issuing a Downtrend alert when the shares were trading at $14.68. Since that call, shares of Petroleo Brasileiro have fallen 47.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows Petroleo Brasileiro