Get started
MarthaStokesCMT-TechniTrader

MELI: Trading Range Technical Pattern Reveals Large Lots

MercadoLibre, Inc. (NASDAQ:MELI)  
MarthaStokesCMT-TechniTrader  
NASDAQ:MELI   MercadoLibre, Inc.
Technical Indicators Trend Analysis Chart Patterns MELI tradingrange breakout Technical Analysis Stocks volumeoscillator institutional_trading
2
0
indicator trendanalysis chartpattern meli tradingrange breakout technicalanalysis stocks volumeoscillator institutional_trading
The outline in red shows the trading range pattern for MELI stock on the daily time frame. The highs of this range are remarkably level for a trading range. The extreme low rebound is lower than prior range lows. The compression of price before the gap up is a particularly important pattern to watch for in a trading range market condition, to anticipate a breakout. Use volume oscillators along with candlestick patterns to identify the underlying hidden large lot activity.

snapshot
Martha Stokes, CMT
www.TechniTrader.Courses

Learn how to use the technical patterns of each market participant for better trade planning.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.