Daily Stock Setups

Petrobras (PBR) Initiated Coverage Alert, Watch for 20.9% Technical Uptrend Continuation

Posted on: Thu, 15 Oct 2009 09:05:00 EDT

Symbols: PBR

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Oct 15, 2009 (SmarTrend(R) Spotlight via COMTEX) --
PBR | Quote | Chart | News | PowerRating -- Petrobras (NYSE:PBR) initiated as Outperform at Bernstein. The stock closed yesterday at $49.86 on volume of 13,268,800 shares, below average daily volume of 15,390,682.

Petroleo Brasileiro is currently above its 50-day moving average of $43.69 and above its 200-day moving average of $36.40.

SmarTrend is bullish on shares of PBR and our subscribers received an Uptrend alert on July 20, 2009 at $41.25, which has returned 20.9% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Petroleo Brasileiro S.A. Petrobras ADS (PBR) PBR. Petroleo Brasileiro S.A. Petrobras ADS (PBR) has Short Term PowerRatings at TradingMarkets. Details on Petroleo Brasileiro S.A. Petrobras ADS (PBR) Short Term PowerRatings is available at This Link.

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