DTT Buzz

After selling off over the last 9 months, PetroChina Co Ltd (ADR) (NYSE:PTR) looks to be setting up for a nice little short-term rally if it can break above 150 on heavy volume due to the inverse head and shoulders. Yesterday PTR rallied hard after the news out of China that the Chinese government would be raising fuel prices 15-20% across the board; this would increase PTR's margins. Goldman Sachs also raised its rating on PTR in the wake of this news. We'll wait and see how PTR behaves over the next few days and might enter a quick swing if it can break above 150.

Keith Greff
DTT Trader/ Analyst