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IBD Rating Upgrades: Petrobras Shows Improved Relative Price Strength

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Petrobras (PBRA) had its Relative Strength ( RS ) Rating upgraded from 69 to 72 Monday -- a welcome improvement, but still shy of the 80 or better score you prefer to see.

[ibd-display-video id=2881825 width=50 float=left autostart=true] This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks compares to other publicly traded companies.

Decades of market research reveals that the top-performing stocks often have an RS Rating north of 80 as they begin their largest runs. See if Petrobras can continue to show renewed price strength and clear that threshold.

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Petrobras is building a cup without handle with a 10.83 entry . See if it can clear the breakout price in heavy volume.

Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 102%, compared to 0% in the prior report. Revenue increased from -9% to 5%.

The company holds the No. 14 rank among its peers in the Oil & Gas-Integrated industry group. Ecopetrol ( EC ), Chevron ( CVX ) and Royal Dutch Shell (RDSA) are among the top 5 highly rated stocks within the group.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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