$PBR Bullish Sentiment (Gap Fill)

3 Jun

Reasons for Bullish Sentiment:
- Daily inside candle; currently in the middle of daily broadening formations
- Potential upside movement as the MACD line (blue) is quickly approaching the signal line (orange) indicating of bullish sentiment.
- RSI at 45 (can go down to under 30 but there is a higher chance of it moving up
- GAP to be filled to the upside ($15.71 - $16.46)

Currently holding 4 shares.
Entry: $15.20
Target Exit: $16.40 (.06 away from filling gap to the upside)
Stop Loss: $14.75 (May 2024 low)
R:R = 2.67

Petróleo Brasileiro SA engages in oil and gas exploration, production, and distribution activities. It operates through the following segments: Exploration and Production; Refining, Transportation, and Marketing; Gas and Power; and Corporate and Other Business.

• The Exploration and Production segment covers the activities of exploration, development, and production of crude oil, natural gas liquid, and natural gas, for the primary purpose of supplying its domestic refineries.
  
• The Refining, Transportation, and Marketing segment refers to refining, logistics, transport, and trading of crude oil and oil products activities as well as exports of ethanol.
  
• The Gas and Power segment represents the activities of logistic and trading of natural gas and electricity, transportation and trading of liquefied natural gas, generation and electricity by means of thermoelectric power plants, as well as holding interests in transporters and distributors of natural gas.
  
• The Corporate and Other Business segment includes corporate items related to corporate financial management, overhead related to central administration, and other expenses; and other businesses such as distribution of oil products abroad (South America) and the production of biodiesel and its co-products.
  

The company was founded on October 3, 1953 and is headquartered in Rio de Janeiro, Brazil.

22 Jul

Trading ditutup: stop tercapai

Stopped out