Petroleo Brasileir (PBR): Death Cross

Petroleo Brasileir (PBR) just flashed a death cross.

Petroleo Brasileir (PBR)
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In late February PBR flashed a golden cross signal. Now we have confirmation that this signal has failed.

Can the bears break the key December support area?

If they can then the October lows will be their target area.

For Reference

The death cross (technical formation when the 50-day moving average drops below the 200-day) can be used as a filter to help narrow down the field. Next, use the Seven Steps to Better Stock Trading to evaluate the sentiment and price action. Better yet, sign up for The Select 20 Stock Picks or use my free Total Indicator for eSignal.