Don't Ignore This Chart!

Petrobras (PBR) Takes Out The 40 Week Moving Average

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With everyone jumping on the emerging market trade, Brazil has recently shot up to new 9-year highs on the local market chart. Petrobras (PBR), one of the biggest energy companies operating in Brazil is making a moving now too. It is taking out the 40 Week Moving Average.


With a surging SCTR and the support of the 40 week MA under the stock, this looks like a nice way to participate in the emerging markets.

The Market Outlook with Tom Bowley and Greg Schnell will be on Saturday September 9th, 2017 @ 11:00 AM EDT. Click here to register.

Good trading,
Greg Schnell, CMT, MFTA

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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