Can the Rally in Petroleo Brasileiro (PBR) Shares Continue?

Zacks

Petroleo Brasileiro Petrobras SA (PBR) has been on the move lately as the stock has risen by 8.4% in the past four weeks, and it is currently trading well above its 20-Day SMA. This is a pretty solid move higher, but the question that has to be on investors’ minds right now is; can this trend continue?

While there can be no telling for sure, it is certainly encouraging that earnings estimates have risen in the past few weeks on the company, suggesting that sentiment on PBR is moving in the right direction. In fact, the stock currently has a Zacks Rank #2 (Buy), suggesting that the recent run could certainly continue for this in-focus company.



PETROLEO BRASILEIRO SA PETROBRAS (PBR): Free Stock Analysis Report


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