TopMarketGainers
Short

$MELI holds to much rick into earnings.

NASDAQ:MELI   MERCADOLIBRE INC
Investors have steadily dripped out of MELI as the valuation has been more and more unreasonable.
They MA's have been rolling over for some time and particular concern is the loss of support from the 200ma.
RSI has been making lower highs for 8 months.
Several gaps exist on the chart, these eventually get filled.
The growth can not justify the 1717 P/E.
Company profile
MercadoLibre , Inc. engages in the provision of online commerce platform with focus on e-commerce and its related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, Venezuela, and Other Countries. The firm provides users a mechanism for buying, selling and paying as well as collecting, generating leads, and comparing lists through e-commerce transactions. The company was founded by Marcos Eduardo Galperin on October 15, 1999 and is headquartered in Buenos Aires, Argentina.
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