PETROBRAS (PETR3) COULD GET A 120% INCREASE - ABOVE R$100Petroleo Brasileiro SABMFBOVESPA_DLY:PETR3MiketubaraoPETR3 is holding above value area high from 2008 to today, holding above yearly anchored vwap, it formed a huge v shape recovery for almost twenty years. Stop loss below july monthly candle, below value area high and below yearly anchored vwap (R$41.30). Entry is above the breakout of the yearly anchored vwap and above value area high after the retest and acceptance above. The target is the fibonacci extension 1.618% (R$109) from oct 1992 to the highs of 2008 to the lows of 2016. STOP LOSS: R$41.30 ENTRY: R$49.34 TAKE PROFIT: R$109.60