pool adsHow Stock Traders Daily uses Price Action in Petroleo Brasileiro Sa $PBR to Define Opportunity and Risk
Both opportunity and risk assessments can be drawn from looking at the price action in Petroleo Brasileiro Sa (NYSE: PBR). This is a practice commonly referred to as reading the charts. The summary data for PBR below demonstrates this, and there are trading plans that help investors understand how to utilize the data too. This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Neutral | Neutral | Strong |
| P1 | 0 | 0 | 8.18 |
| P2 | 8.10 | 8.12 | 9.76 |
| P3 | 8.49 | 8.43 | 11.37 |
Support and Resistance Plot Chart for PBR
Long Term Trading Plans for PBR
April 20, 2021, 3:15 pm ET
The Technical Summary and Trading Plans for PBR help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this PBR Report.
PBR - (Long) Support Plan
The technical summary data tells us to buy PBR near 8.18 with an upside target of 9.76. This data also tells us to set a stop loss @ 8.16 to protect against excessive loss in case the stock begins to move against the trade. 8.18 is the first level of support below 8.295 , and by rule, any test of support is a buy signal. In this case, support 8.18 would be being tested, so a buy signal would exist.
PBR - (Short) Resistance Plan
The technical summary data is suggesting a short of PBR as it gets near 9.76 with a downside target of 8.18. We should have a stop loss in place at 9.79though. 9.76 is the first level of resistance above 8.295, and by rule, any test of resistance is a short signal. In this case, if resistance 9.76 is being tested, so a short signal would exist.
Blue = Current Price
Red= Resistance
Green = Support
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