Petrobra (PBR): Price Now Near $11.06; Daily Chart Shows Downtrend on 50 Day Basis

The Hourly View for PBR

Currently, PBR (Get Ratings)’s price is down $-0.09 (-0.85%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as PBR has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them with price now being below them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Out of Petroleum and Natural Gas stocks, PBR ranks 45th in regards to today’s price percentage change.

PBR’s Technical Outlook on the Daily Chart

At the time of this writing, PBR’s price is down $-0.07 (-0.63%) from the day prior. This move is a reversal from the day prior, which saw price move up. As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe. Of note is that the 20 day changed directions on PBR; it is now pointing down. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows PBR’s price action over the past 90 days.