Meanwhile, HSBC Securities downgraded its Petroleo Brasileiro S.A. Petrobras ADR [PBR] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including JP Morgan’s analysts, who increased its forecast for the stock in late September from “a Neutral” to “an Overweight”. Morgan Stanley also remained covering PBR and has increased its forecast on August 26, 2024 with a “an Overweight” recommendation from previously “an Equal-weight” rating. BofA Securities revised its rating on June 27, 2024. It rated PBR as “a Buy” which previously was an “a Neutral”.
Price Performance Review of PBR
On Tuesday, Petroleo Brasileiro S.A. Petrobras ADR [NYSE:PBR] saw its stock jump 2.74% to $13.49. Over the last five days, the stock has gained 5.80%. Petroleo Brasileiro S.A. Petrobras ADR shares have risen nearly 4.90% since the year began. Nevertheless, the stocks have fallen -14.59% over the past one year. While a 52-week high of $17.10 was reached on 01/07/25, a 52-week low of $12.54 was recorded on 01/02/25. SMA at 50 days reached $13.70, while 200 days put it at $14.71.
Levels Of Support And Resistance For PBR Stock
The 24-hour chart illustrates a support level at 13.29, which if violated will result in even more drops to 13.09. On the upside, there is a resistance level at 13.68. A further resistance level may holdings at 13.87. The Relative Strength Index (RSI) on the 14-day chart is 53.77, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 16.10%. Stochastics %K at 57.66% indicates the stock is a holding.
How much short interest is there in Petroleo Brasileiro S.A. Petrobras ADR?
A steep rise in short interest was recorded in Petroleo Brasileiro S.A. Petrobras ADR stocks on 2024-12-13, growing by 2.93 million shares to a total of 25.41 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 22.48 million shares. There was a rise of 11.54%, which implies that there is a positive sentiment for the stock.
