MercadoLibre - Latin Americas biggest Supermarket chain. Was getting battered for a while, but the bottom may have just come in - up almost 6% on the day and clear Divergence visible
Good Luck!
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...
Conviction: 3/5
could have another leg down to touch lower channel line (2008)
General Thesis
could have finished 3 leg down correction
Weekly RSI at oversold levels - historically only touches this level once before bouncing
Growth
Margins are consistently falling since 2011
revenue growth trending up, new ATH
Value
P/FCF expensive...
During the last years Meli was crashing no more than 50%, this crash was the biggest in his history, however for long term this is an asset that I would definitely keep in my portfolio, I think that we will see a range above ema 200 weekly and if S&P doesn´t crash next year Meli could recover ATH, but it could take more than one year.
what do you think?
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...
Here is one thing to confirm that Nov~Dec 2021
Mr.Market doesn't like Tech Stock and tries to compress multiple back to where it was before Covid Pandemic.
In some cases, Company's Revenue scale grew up more than double during 2020~2021 but the price was pulled back to early 2020.
It means multiple was dramatically compressed recently.
This stock stay in the...
"Can't catch a bid on the buy side" and continues to be thrashed whether Nasdaq is up or down.
Selling might be overdone, but $MELI could be headed for $970 (not my prediction). This is a momentum (or lack thereof).
I keep hoping the volume will fall off, or that we'll just have an up day.
Long and trying to hold ...
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...
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...
The secondary was approximately 2% dilutive in number of shares. But the market has assessed a 12.5% share price reduction, and appears to still be searching for a new level, perhaps lower.
Cautiously optimistic that most of the selling related to this equity offering will abate by Friday this week. But not sure we aren't experiencing broader selling in...
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...
Recently rallied off a great earnings but fell short of a new ATH and like most of the tech stocks that are reaching 52 week highs Meli looks to be distributing now.
Conformation or entry - Yellow line
Target - Green line or gap close
MELI is my 2nd largest position and I believe in the company long term, but there could be some short term pain. H&S is forming and the RSI looks to be continuing downwards.
