Rio de Janeiro-based Petroleo Brasileiro S.A. (Petrobras; PBR) is a mixed joint stock corporation controlled by Brazil's federal government. PBR is one of the largest oil and gas companies in the world, and operates in five business segments: Exploration and Production (E&P; 24% of 2009 revenues, 55% of 2009 operating income), Supply (47%, 37%), Distribution (18%, 4%), Gas & Energy (4%,3%), and International (7%, 1%).
Each ADS represents two common shares.
The chart looks tempting. But, I will keep my stop loss at 37,87...there are a lot of problems around the world, and who knows what could happen in the Middle East and how the development of the unrests could affect the energy sector.
Technically speaking, I think PBR is beginging a wave 3. But, be careful and maintain your stops.
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