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Look for Shares of Empresa Brasileira de Aeronautica to Potentially Pullback after Yesterday's 2.67% Rise

By Amy Schwartz

Empresa Brasileira de Aeronautica (NYSE:ERJ) traded in a range yesterday that spanned from a low of $18.20 to a high of $18.62. Yesterday, the shares gained 2.7%, which took the trading range above the 3-day high of $18.06 on volume of 817,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Empresa Brasileira de Aeronautica have traded between a low of $17.06 and a high of $32.79 and are now at $18.33, which is 7% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.2% while the 200-day MA has slid 0.6%.

SmarTrend is tracking the current trend status for Empresa Brasileira de Aeronautica and will alert subscribers who have ERJ in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders empresa brasileira de aeronautica

Ticker(s): ERJ