user warning: Table './fnndrupaldev/term_node' is marked as crashed and last (automatic?) repair failed 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 = 432710 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.

Shares of Petroleo Brasileiro Are Moving Lower on 1.4x Above-Average Volume (PBR)

Published on Wed, 01/30/2013 - 14:14
By Robert Cotter

Petroleo Brasileiro's stock is down 4.6% to $18.59 on heavy trading volume. Today's volume of 19.0 million shares tops the average 30-day volume of 13.6 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

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.

Over the past year, Petroleo Brasileiro has traded in a range of $17.27 to $32.60 and is now at $18.59, 8% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.4%.

There is potential upside of 28.0% for shares of Petroleo Brasileiro based on a current price of $18.59 and an average consensus analyst price target of $23.80. The stock should run into initial resistance at its 50-day moving average (MA) of $19.30 and subsequent resistance at its 200-day MA of $20.76.

By Robert Cotter
rcotter@fnno.com

Latest News from FNNO

Shares of Sciclone Pharmaceuticals Rise ...

Sciclone Pharmaceuticals (NASDAQ:SCLN) traded at a new 52-week high today of $7.02. Th ...

Fortinet: 52-Week High Recently Eclipsed...

Fortinet (NASDAQ:FTNT) traded at a new 52-week high today of $26.35. This new high was ...

Shares of Hain Celestial Rise Above Prev...

Hain Celestial (NASDAQ:HAIN) traded at a new 52-week high today of $99.24. Approximate ...

Stock Investors Sell Off Shares of Bill ...

Bill Barrett (NYSE:BBG) is a company whose shares are active, trading 1.2% lower to $22 ...

Shares of ECA Marcellus Trust Fall Below...

Shares of ECA Marcellus Trust (NYSE:ECT) traded at a new 52-week low today of $6.16. A ...

CARBO Ceramics Shares Climbing Higher, U...

Up 1.2% to $105.74, CARBO Ceramics (NYSE:CRR), is one of today's notable movers. The D ...

BRF - Brasil Foods: The Winning Streak C...

Shares of BRF - Brasil Foods (NYSE:BRFS) traded at a new 52-week high today of $26.61. ...

American Water Works Looks to Continue t...

Shares of American Water Works (NYSE:AWK) traded today at $50.39, breaking its 52-week ...