Petroleo Brasileiro: New 52-Week Low Set Today (PBR)
Shares of Petroleo Brasileiro (NYSE:PBR) traded at a new 52-week low today of $14.65. This new low was reached on below average trading volume as 5.5 million shares traded hands, while the average 30-day volume is approximately 16.9 million shares.
In the past 52 weeks, shares of Petroleo Brasileiro have traded between the current low of $14.65 and a high of $30.65 and are now at $14.71. The 200-day and 50-day moving averages have moved 0.56% lower and 1.26% lower over the past week, respectively.
There is potential upside of 61.3% for shares of Petroleo Brasileiro based on a current price of $14.71 and an average consensus analyst price target of $23.73. The stock should run into initial resistance at its 50-day moving average (MA) of $18.53 and subsequent resistance at its 200-day MA of $20.11.
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.
SmarTrend recommended that its subscribers protect gains by selling shares of Petroleo Brasileiro on January 30th, 2013 by issuing a Downtrend alert when the shares were trading at $18.57. Since that call, shares of Petroleo Brasileiro have fallen 19.7%. 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