Get started
MERCADOLIBRE INCMERCADOLIBRE INCMERCADOLIBRE INC

MERCADOLIBRE INC

No trades
See on Supercharts
Overview Financials News
Ideas
Discussions Technicals Forecast Seasonals Bonds

MELI/N trade ideas

Triple Confluence in MercadoLibreMercoLibre’s been sliding for almost two months, but there could be signs of a turn. The first pattern on today’s chart is the $1095.34 level. It marked the high last summer and was near the low in mid-February. MELI pulled back and bounced at it this week, a potential sign that support is in place. Second, that level closely matches the 200-day simple moving average (SMA). Third, the price zone is near a 50 percent retracement of its rally since the end of December. Those three signals, occurring so near each other, are an example of potentially significant confluence. Next, rate of change exhibited positive divergence on Monday’s low. Finally, macro conditions may favor the global e-commerce company given the recent weakness in the U.S. dollar. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NASDAQ:MELI
by TradeStation
MERCADOLIBRE Stock Chart Fibonacci Analysis 061323 Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 1217/61.80% Chart time frame : B A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : B A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the bottom D) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
NASDAQ:MELI
by fibonacci6180
Short overbought Mercadolibre 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 should be forming a top while at a high 70 rsi. If this is correct then starting a put position right about here can turn out to be very beneficial, with a far out as expiration as possible to counter short term volatility. You can always sell at any point in time when profitable opposed to waiting until expiration where time decay negatively effects your premium. I like this stock alot and if this it true I'd be very comfortable going long right after when it gets back on its Growth path. Nothing goes straight up or down, so trying to spot these trend changes can help with trading.
NASDAQ:MELIShort
by Sawyer170
MELI - could be ripe for breakup soonThere 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 that the trend is possibly reversing up although the stock could still continue to whipsaw for several weeks (sometimes up to a couple of months) until the 200day moving average could flatten or start turning up. 3. Very strong volume in the last 2 days that propelled the stock to move 15.6% in just 2 days to retest the neckline of the ascending triangle. Watching to see if a (valid) breakup will materialise in the near future (perhaps after the next minor pullback). Disclaimer: Just my 2 cents and not a trade advice. I may or may not enter into this trade. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:MELILong
by Juliac
MELI Engulfing Green Bar Three Line Bearish886.75)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 candle taking out most or all of the previous 5-15 candles or a so called " Big Ass Candle". This could represent the end of a consolidation period and the beginning of the resumption of down-trending price action. Last August a similar engulfing green weekly candle preceded a downtrend. I have plotted the long-term anchored VWAP and also the 6-month volume profile. I will take a short swin trade if price drops below the POC line of the volume profile. ( 886.75) If however, price approaches or crosses the VWAP ( 1060) I will take a long trade. Given the stock price a 6 month expiration call or put option may be the best trade method allowing for the taking of multiple contracts and then scaling out type trade management stratery.
NASDAQ:MELIShort
by AwesomeAvani
Descending TrianglePrice 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 (FWD) 8.97 PE (FWD) 96.53 Yield (TTM) - Short Interest 2.18% Market Cap $43.57B No recommendation/ATH 2020/ATL 7.91/OBV remains high. It is difficult for me to project targets to the upside as I use the point of break and the width of the wide end of the triangle to calculate targets. I can make a relatively close guess on where this may break down at. Spinning top at support right now/indecision.
NASDAQ:MELI
by lauralea