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Petroleo Brasileiro (PBR.A) Bullish Technical Alert - Trend Up 24.5%

Nov 04, 2009 (SmarTrend(R) Spotlight via COMTEX) --

Petroleo Brasileiro (NYSE:PBR.A) is trading 1.7% higher (up $0.69 to $41.77) today on volume of 1,970,224 shares. The stock is trading near its 52-week high of $44.14. We are watching for a close above that level.

Petroleo Brasileiro is currently above its 50-day moving average of $38.73 and above its 200-day moving average of $31.28.

SmarTrend is bullish on shares of PBR.A and our subscribers received an Uptrend alert on July 20, 2009 at $33.55, which has returned 24.5% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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