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MercadoLibre Upgraded

NASDAQ:MELI   MERCADOLIBRE INC

Bullish golden cross complete.
Possible entry level $705
Stock at a critical level, possible breakout or failure.
Worked off overbought conditions in previous few sessions.
Piper Sandler analyst Michael Olson raised his price target for MercadoLibre to $760 from $675 on expectations the company will report "strong" Q4 results. The analyst sees upside potential for MercadoLibre's key Q4 metrics and he remains confident in the company's ability to drive growth. He also believes there is "'light at the end of the tunnel" for margin improvement and keeps an Overweight rating on the shares.
Source thefly

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