Petrobras: Time for Profit-Taking

Filed under: Petroleo Brasileiro (PBR)

The stock chart of integrated oil/natural gas company Petroleo Brasileiro SA (PBR), also known as Petrobras, which I first wrote about on April 23, 2009 at a price of $33.99, has recovered slightly, but has not broken out of a long-term bear-hug pattern.



Hence, it's probably best to exit the shares at the current roughly $42-43 price and take the $8-9 gain.

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Petrobras: Time for Profit-Taking originally appeared on BloggingStocks on Thu, 22 Apr 2010 18:30:00 EST. Please see our terms for use of feeds.

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