Selling pressure has been phenomenal from November 15th and fairly strong from the recent high of $1970 late August.
Short-term movements are unpredictable, so consider this stock a better investment than a trade at this time.
Broader market showing weakness ... and I anticipate increased volatility in NDX.
Might have a strong buy opportunity immediately before the debt ceiling showdown in Senate ('political theater and shenanigans) around Dec 10th to 15th? Watch NDQ levels.
I drew an arbitrary blue line at $1280 just because I thought it fit well there. It doesn't mean diddly.
Spreadsheet insert is my attempt to track the short-term impact of recent secondary offering ... don't rely on my numbers.
Light volume Wednesday morning prior to turkey day, but it's been a while since we saw any green for MELI. Hope all those who are short, give thanks and quickly cover!