BRASIL: Petrobras Shares May Rise Further.

BLOGGING STOCKS/Joseph Lazzaro/
"If you bought Petrobras in April, you're up an impressive 47%.
Petrobras remains on-track for 5% to 6% oil/natural gas production growth for FY2009 or about 2.54 million barrels of oil equivalent per day; longer-term, a roughly 7% to 7.5% average annual production increase is seen for 2010 to 2013.
Add the above to, the company's dominant position in Brazil (refining, marketing), and a promising capital spending program, and PBR is not a "back up the truck" play, but it's close.
Technically, Petrobras stock chart is strong -- an uptrend, with only minor encounters with the key, 50-day moving average. The stock also recently broke through psychological resistance at $50, and a pull-back this month represents a buy opportunity."