Market Blog Technical Analysis

Petroleo Brasileiro SA Petrobras – Chart with a potential flag breakout

Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) has been in a consolidation over the last two weeks in the 9.73-10.15 range (developing a bullish flag formation) after a big surge in price and volume in the first week of the current month. On Friday, the stock opened lower, but quickly rebounded and tried once again to break the resistance level but without success. If this level ($10.15) is broken with volume
Market Blog Technical Analysis

AKS Possible trend reversal ahead

Antonio's Perspective Shares of AK Steel Holding Corporation (NYSE:AKS) jumped 35 cents, or 5.56% yesterday, closing just slightly below its declining 200-day exponential moving average (key resistance point). The rally was accompanied by high volumes, which is a very good sign for a continuation of the trend. If that level is broken next week on volume, the stock price short-term could accelerate towards the 7.54-7.70 zone, which represents the next