Alex_Quiroga
Long

Attacking a resistance level

NYSE:ERJ   EMBRAER SA SPON ADS EACH REP 4 ORD SHS
I have understood than Americans investors do not like foreign companies because the financial statements are different and the way the the directors handle foreign companies, and this is right for people with a too long term perspective like ten years or more who are thinking about their retirement.
But this kind of ideas are for speculators with a investing perspective of several months to one year who take a risk with a calculated loss and with a target in mind.
This is an aerospace and defense company classified like Industrial goods and is a foreign company is from Brazil to be more precise.
For know more info visit this links
https://www.marketbeat.com/stocks/NYSE/E...
http://financials.morningstar.com/income...

Now I go to the technical view here: Like all my ideas they are based in resistance breakout with your respective pullback and the pullback is now in progress and it is not ready this pullback need more time for consolidate and even some bottom tails around the 24.00 level that is now the new support.
Other point here is I work with moving averages but I not use a mechanical systems I use my discretion and how close the points of the moving averages are now in relation with the candles and I can appreciate a gap between the moving averages and the price and is not ready for an entry yet, remember patience
I do not give price targets because objectives vary from traders
The interpretation is personal and vary according to the interpreter
I do not try to convince and impress with my articles, I only show the idea with the most simple language, I do not use sophisticated jargon.
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