The PBR is out of its bearish channel
Everything is clear in the picture.
The downward channel that has been broken upwards and today's red candle can be considered as a pullback.
The Brazilian Stock Exchange index may drop about five percent after this and then move up, so it can put this share under a bit of pressure, but overall my opinion is bullish in the medium term. Oil prices have risen dramatically and for the next two months there is no news of Iran's return to the JCPOA and the oil market (away from sanctions) and it seems that the sentiment is positive for now.
The company's report next week is also very important, so please review any transaction by yourself.
That was just my opinion and there is no certainty
I'll be happy to share your opinions with me.
The downward channel that has been broken upwards and today's red candle can be considered as a pullback.
The Brazilian Stock Exchange index may drop about five percent after this and then move up, so it can put this share under a bit of pressure, but overall my opinion is bullish in the medium term. Oil prices have risen dramatically and for the next two months there is no news of Iran's return to the JCPOA and the oil market (away from sanctions) and it seems that the sentiment is positive for now.
The company's report next week is also very important, so please review any transaction by yourself.
That was just my opinion and there is no certainty
I'll be happy to share your opinions with me.
Comment:
This position has more than half the profit. Better risk free.