Downtrend Call Working As Petroleo Brasileiro Stock Falls 17.4% (PBR)
SmarTrend identified a Downtrend for Petroleo Brasileiro (NYSE:PBR) on January 30th, 2013 at $18.57. In approximately 3 weeks, Petroleo Brasileiro has returned 17.41% as of today's recent price of $15.33.
Petroleo Brasileiro share prices have moved between a 52-week high of $30.65 and the current low of $15.10 and are currently at $15.10 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.9%.
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 will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Petroleo Brasileiro.
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Keywords: spotlights Petroleo Brasileiro