[May 16, 2012] Upgrade Alert for PetroChina (PTR) Tweet May 16, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- PetroChina (NYSE:PTR) was upgraded from Hold to Buy at Deutsche Bank today. The stock closed yesterday at $133.35 on volume of 226,000 shares, above average daily volume of 164,000. In the past 52 weeks, PetroChina share prices have been bracketed by a low of $111.29 and a high of $153.35 and closed yesterday at $133.35, 20% above that low price. The 200-day and 50-day moving averages have moved 0.11% lower and 0.68% lower over the past week, respectively. PetroChina Company Limited explores, develops, and produces crude oil and natural gas. The Company also refines, transports, and distributes crude oil and petroleum products, produces and sells chemicals, and transmits, markets and sells natural gas. There is potential upside of 28.0% for shares of PetroChina based on a current price of $133.35 and an average consensus analyst price target of $170.67. The stock should find initial resistance at its 200-day moving average (MA) of $133.93 and further resistance at its 50-day MA of $143.17. SmarTrend is monitoring the recent change of momentum in PetroChina. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of PetroChina in search of a potential trend change. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]