Technical Analysis Evaluates whether Petrobras’ actions (PETR4) can go back to the scholarship

Petrobras’ actions (PETR4) remain a tall trend in the medium and long term, recently renewing their historical top in the region of R $ 38.66. However, after reaching this brand, the paper suffered an expressive realization, finding support in R $ 33.90level that attracted buying flow and allowed a resumption.

Currently, Petr4 negotiates above the mobile averages in the weekly chart and It records an accumulated increase of 2.28% in March, while in the year the appreciation is 1.55%. The technical scenario points to a possible continuity of recovery, provided that the asset can overcome key resistances. Otherwise, a loss of strength can lead to new achievements.

To understand how far the price of Petrobras shares can go, check out the full technical analysis and the main support and resistance points.

Technical Analysis of Petrobras

In the weekly chart, Petr4 follows a tall trend, renewing tops and remaining above long -term moving averages. After reaching the record of R $ 38.66a strong seller flow took the paper to the support in R $ 33.90where buyers have driven a recovery in recent weeks.

Now, to confirm the resumption of the high trend, the action needs to overcome the immediate resistance in R $ 37.15. Above this level, the path is open to a new test of the Historical top at R $ 38.66. If this barrier breaks, Petr4 can seek higher targets in the region of R $ 40.00/R $ 40.70 and, in a more intense buying force scenario, to reach the R $ 42.35/R $ 43.75.

However, there are points of attention. If paper loses strength and negotiating below moving averages and high trend line, a corrective movement can gain traction. The loss of support in R $ 36.30 and R $ 35.50 can lead the asset to test the range of R $ 33.90with lower targets designed between R $ 32.57 and R $ 30.90. In a more pessimistic scenario, Petr4 could seek R $ 28.90.

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Short -term analysis

In the daily chart, Petrobras has been showing signs of recovery after testing the support in R $ 33.90. The buying flow input in this region boosted the action backwards the moving averages of 9, 21 and 200 periods, strengthening the continuity thesis of discharge in the short term.

To maintain this positive movement, Petr4 needs to overcome immediate resistances in R $ 37.15 and R $ 37.75. If you can break these barriers, the asset can retest the historical maxim in R $ 38.66 and, if there is continuity of the buying flow, reach higher levels in the R $ 39.50/R $ 40.80.

On the other hand, the role can face difficulties if you get lost again the moving averages, especially the supports in R $ 36.10 and R $ 35.15. A more pronounced loss can lead to new corrections to R $ 33.90 and R $ 32.60, with longer targets in R $ 31.30/R $ 30.90.

The relative force index (IFR 14) is in 56.22a balance zone, which indicates that there is still room for new advances.

Petr4 supports and resistances

Supports:

1. R $ 36.30 → First important support in the short term. Loss of this level may indicate weakness.
2. R $ 35.50 → Region where there is buying defense, close to the average of 200 periods.
3. R $ 33.90 → Strong supportwhere there was recently buying reaction.
4. R $ 32.60 → Next Defense Zone If the role goes into stronger corrective motion.
5. R $ 31.30 – R $ 30.90 → More distant support targets if the scenario becomes more pessimistic.
6. R $ 28.90 → longer -term support region, indicating a possible end of the tall trend if tested.

Resistances:

1. R $ 37.15 → Immediate resistance. If surpassed, it may indicate strengthening the tall trend.
2. R $ 37.75 → New obstacle before the historical top.
3. R $ 38.66 → Historical topmost relevant level to confirm a new Altist movement.
4. R $ 39.50 – R $ 40.80 → targets designed in case of top break.
5. R $ 42.35 – R $ 43.75 → longer resistances, considering a sustained high trend.

(Rodrigo Paz is a technical analyst)

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