user warning: Got error 28 from storage engine query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 451578 ORDER BY v.weight, t.weight, in /var/www/ on line 617.

Petroleo Brasileiro: The Losing Streak Continues (PBR.A)

Published on Fri, 03/01/2013 - 15:14
By Adrienne Chilton

Petroleo Brasileiro (NYSE:PBR.A) traded today at a new 52-week low of $16.54. So far today approximately 6.5 million shares have been exchanged, as compared to an average 30-day volume of 10.4 million shares.

In the past 52 weeks, shares of Petroleo Brasileiro have traded between the current low of $16.54 and a high of $29.17 and are now at $16.90. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.9%.

Petroleo Brasileiro has overhead space with shares priced $16.90, or 32.2% below the average consensus analyst price target of $24.91. The stock should run into initial resistance at its 50-day moving average (MA) of $18.76 and subsequent resistance at its 200-day MA of $19.63.

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.

By Adrienne Chilton