Hi viewers, MELI bullish in last periods, here still technically picture looks like it can go more, expecting to see higher bullish push
TP1:1320
TP2:1370
TP3:1410
It has had a vert nice run up off its lows, and it's RSI has now reached 70, where every time before on the daily time frame this signaled a big trend change in direction to the downside. 70 being the oversold area supports the idea of shorting or put options. Along with the formation of the bearish continuation triangle being right at its double top form where it...
Like you can see the Graph. MELI has a good fundamentals from the last Earnings and Revenue. One the F. Volume profile levels reach the 61,8% of the Fibonacci Retracement. So It's time to wait if the POC moves to that area and make things more interesting. The other Escenario is Wait for a Breakout. I think both Ideas are good if the Ocillator goes in a red wave...
Pretty clean chart!
Broke out from the pennant, consolidated, now its time to expansion higher?
Watch $1100 level break for a possible move towards $1300
No break, No trade.
Currently Meli stock on bullish uptrend .
MA 150, MA 200 sloping up currently.
Weekly Candle break out from consolidation triangle.
Weekly Candle pattern with Bullish Momentum
Red bar appearing Smart MCDX indicating smart money from Institution start to trickle in .
RSI above 50 indicating price with strong momentum towards upside.
There are several factors that are aligning in MELI's favour for sustainable recovery in the near future (minor pullbacks not withstanding):
1. Since hitting the low in June2022, it began to whip saw sideways within an ascending triangle pattern. This is a possible reversal pattern when formed after a downtrend.
2. A golden cross on 22 Dec2022: another signal...
MercadoLibre Inc
Long
Entry at 1082.92
Take Profit 1 at 1179.50 (8.92% profit from entry)
Take Profit 2 at 1331.57 (22.96% profit from entry)
Stop loss at 1010.31
MELI is like a hydrid between Shopify and Amazon on the South American markets
Fundarmentally its revenue compared to market cap is more favorable than either of those.
On the weekly chart, MELI double topped to its historical high in February 2021 and September 2021.
It then descended to a pivot bottom in July 22
The chart now shows a large green engulfing...
For Mercado Libre (MELI), do we continue with the bearish scenario?
We see a clear example of the Market Maker Sell Model (MMSM), if this is fulfilled, the Bullish Order Block of the 1-Month period, would be the ideal one to look for upward scenarios or at least think about bullish configurations.
Concept: The Inner Circle Trader (ICT).
Price is close to the support line.
Price is below the .618 of the trend up and above the .786 since the COVID low/ATH 2020/ATL 7.91
It appears a bad day or 2 could break support levels as there are a few more not far below the 1st support level.
Price is sitting on top of an aging rectangle.
Prior gap up and support at bottom of this gap did not hold.
EPS...
Hello dear Traders,
Here is my idea for #MELI
Price closed below yellow line (previous month low)
Targets marked in the chart (green lines)
Invalidation level marked with red line
Good luck!
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The PEAD projected a Bullish outlook for $MELI after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 60%.
Earnings beat and I am not sure if the numbers were soft. I just see there was a positive reaction.
I have noticed that analysts are setting targets lower, sometimes much lower than last quarter. (NVDA was set to beat 1.52 last quarter. This quarter the number is .52)
So it appears they are lowering targets for some, but not all, to allow for a beat. But in...
