Spotlight on Petrobras Brasileiro: Analyzing the Surge in Options Activity
Portfolio Pulse from Benzinga Insights
Financial giants have shown a bearish sentiment towards Petrobras Brasileiro (NYSE:PBR) with 75% of recent options trades being bearish. The stock is currently trading at $14.83, down by 0.4%, and is considered oversold based on RSI readings. An analyst from Jefferies has downgraded the stock to Hold with a price target of $17.
May 24, 2024 | 8:18 pm
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Petrobras Brasileiro (NYSE:PBR) has seen a significant bearish sentiment in recent options trades, with 75% of trades being bearish. The stock is currently down by 0.4% to $14.83 and is considered oversold based on RSI readings. Jefferies has downgraded the stock to Hold with a price target of $17.
The significant bearish sentiment in options trading, combined with a recent downgrade from Jefferies, suggests a negative short-term outlook for Petrobras Brasileiro. The stock's current oversold status may lead to further downward pressure.
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