MELI - Short Term - We look to Sell at 1166.70 (stop at 1241.12) Preferred trade is to sell into rallies. Closed below the 50-day EMA. Posted a Bearish Shooting Star formation. Previous resistance located at 1150.00. Further downside is expected and we prefer to set shorts in early trade. Our profit targets will be 974.38 and 914.10 Resistance: 1150.00 /...
Short MELI CMP $1085.36. This one is clear downtrend. Appears to be double bottom pattern but price will continue to fall to $900 area as per analysis. Trading below all major moving averages. No signs of buyer stepping in. MACD turned negative recently. Short target of $900 area coming soon which is also 200 SMA level on weekly chart.
this is a no brainer buy the pullback huge news today about crypto asset wallet support, but price is down with the rest of the markets revisit of the $2000 area looks good for next year summer-fall 2022
So do you believe that Meli is going to drop to the spot (X)? I don't want to see it, but this looks like a double top mountain to me. I have been reading up a little on Meli and like AMZN, BABA... i think that it's worthwhile finding a strategy to get into a long term play that works. In the meantime... I will play a put here and there if I can catch it.
NASDAQ:MELI Short NASDAQ:MELI Classic Double Top Paired with bad company fundamentals ie NASDAQ:AMZN is gonna beat them out... Its simple.... short it... that's all
MELI - Short Term - We look to Sell at 1290.00 (stop at 1392.00) Posted a Double Top formation. Closed below the 20-day EMA. Trading volume is increasing. Our overall sentiment remains bearish looking for lower levels. Further downside is expected and we prefer to set shorts in early trade. Our profit targets will be 959.00 and 763.00 Resistance: 1300.00...
MercadoLibre - Short Term - We look to Sell at 1262.00 (stop at 1345.00) Posted a Double Top formation. Previous support, now becomes resistance at 1261.00. We look for a temporary move higher. The bias is still for lower levels and we look for any gains to be limited. Further downside is expected although we prefer to set shorts at our bespoke resistance...
Hello Traders, welcome to this free and educational analysis. I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities. If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below. If you enjoyed this analysis, I would definitely...
Many stocks start to look like some angry bunnies...
MELI, Breakout or bounce? Today we will take a look at the Latin American e-commerce platform "Mercado Libre." Currently, the price is on a relevant level to pay attention to; it's a zone where we have a support level and the cloned trendline of the current correction. As this is a major zone, we can start thinking about the bullish or bearish resolution from...
we are in a good buying area, creating an ascending triangle.
Mercadolibre is still correcting although drawing closer to a zone I expect a bounce/reaction. Since Sept 2020 MELI has been trading inside a ascending channel and printed a fresh ATH in Jan 21. I anticipate a move down to the bottom of the channel with the following confluences 200EMA, .618 fib pull from bottom of the channel to the last swing high and the...
I see a lot of bullish signs in NASDAQ:MELI . The MACD is showing a bullish divergence making higher lows, the volatility has decrease with lower and lower volumen and the price is making a "cup & handle" patter; a classic reversal pattern. The only thing that doesn't meet my criteria is that the MAs aren't align the way I like. But, other han that everything...
1d Time-Frame Analysis Lets start with the bigger time-frame, with the bigger picture. NASDAQ:MELI is at level 2 rise, meaning it's missing one more leg to the upside. Then, why short this? Just checked the cycles and I see that MELI does level 1 rise, retrace, level 2 rise, M formation, drop. So instead of level 3 being the peak formation before the...
Great resistance in MELI. For my part I see it more bearish during the week. Drop of 10-15% to generate some convincing pattern to think a continuation in the trend.
Patiently waiting for a breakout of this falling wedge pattern.
Let's take a look at MELI. We can see two relevant aspects on the chart. a) The price has broken an ascending trendline that has been working since MAY 2020 b) The price has been correcting for the last 4 months almost, and the main structure we can observe is a descending Wedge. Based on those two items on the daily chart, this is our trading plan. -We...