MERCADOLIBRE INC.

- USD (-)

- 15 min delayed data - NASDAQ Stocks

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Change:	-
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Type:	Stocks
Ticker:	MELI
ISIN:

MERCADOLIBRE INC. - 1H - Technical analysis published on 01/26/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bullish

Technical indicators

22%

50%

28%

My opinion

Bullish above 1,722.00 USD

My targets

1,769.51 USD (+1.80%)

1,799.27 USD (+3.52%)

My analysis

We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on MERCADOLIBRE INC.. As long as you are above the support located at 1,722.00 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 1,769.51 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 1,799.27 USD as an objective. Crossing it would then enable buyers to target 1,984.34 USD. If the support 1,722.00 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.

Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.

Force

1.6

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

MERCADOLIBRE INC. rating 1,738.15 USD. On the day, this instrument lost -0.04% with the lowest point at 1,727.73 USD and the highest point at 1,745.75 USD. The deviation from the price is +0.60% for the low point and -0.44% for the high point.

1,727.73

1,745.75

1,738.15

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by MERCADOLIBRE INC.:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of MERCADOLIBRE INC. in 1H shows an overall bullish trend. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 5 are neutral and 9 are bearish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner found no further results concerning independent technical indicators.

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:

Near horizontal support

Type : Bullish

Timeframe : 1 hour

Near support of channel

Type : Bullish

Timeframe : 1 hour

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	1,616.56	1,652.01	1,722.00	1,738.15	1,769.51	1,799.27	1,984.34
Change (%)	-7.00%	-4.96%	-0.93%	-	+1.80%	+3.52%	+14.16%
Change	-121.59	-86.14	-16.15	-	+31.36	+61.12	+246.19
Level	Major	Intermediate	Minor	-	Minor	Intermediate	Major

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,664.25	1,693.13	1,715.96	1,744.84	1,767.67	1,796.55	1,819.38
Camarilla	1,724.58	1,729.32	1,734.06	1,738.80	1,743.54	1,748.28	1,753.02
Woodie	1,661.24	1,691.62	1,712.95	1,743.33	1,764.66	1,795.04	1,816.37
Fibonacci	1,693.13	1,712.88	1,725.08	1,744.84	1,764.59	1,776.79	1,796.55

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,528.52	1,571.90	1,649.04	1,692.42	1,769.56	1,812.94	1,890.08
Camarilla	1,693.05	1,704.10	1,715.14	1,726.19	1,737.24	1,748.29	1,759.33
Woodie	1,545.41	1,580.34	1,665.93	1,700.86	1,786.45	1,821.38	1,906.97
Fibonacci	1,571.90	1,617.94	1,646.38	1,692.42	1,738.46	1,766.90	1,812.94

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,441.38	1,502.79	1,537.17	1,598.58	1,632.96	1,694.37	1,728.75
Camarilla	1,545.20	1,553.98	1,562.76	1,571.54	1,580.32	1,589.10	1,597.88
Woodie	1,427.86	1,496.03	1,523.65	1,591.82	1,619.44	1,687.61	1,715.23
Fibonacci	1,502.79	1,539.39	1,561.99	1,598.58	1,635.18	1,657.78	1,694.37

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	41.42
MACD (12,26,9):	1.9000
Directional Movement:	-18.77
AROON (14):	-28.57
DEMA (21):	1,757.53
Parabolic SAR (0,02-0,02-0,2):	1,779.47
Elder Ray (13):	-12.53
Super Trend (3,10):	1,782.34
Zig ZAG (10):	1,730.36
VORTEX (21):	0.9200
Stochastique (14,3,5):	18.34
TEMA (21):	1,741.85
Williams %R (14):	-85.12
Chande Momentum Oscillator (20):	-62.57
Repulse (5,40,3):	-0.6700
ROCnROLL:	-1
TRIX (15,9):	0.0900
Courbe Coppock:	2.89

MA7:	1,734.55
MA20:	1,634.10
MA50:	1,595.20
MA100:	1,445.21
MAexp7:	1,743.83
MAexp20:	1,749.91
MAexp50:	1,723.25
MAexp100:	1,681.51
Price / MA7:	+0.21%
Price / MA20:	+6.37%
Price / MA50:	+8.96%
Price / MA100:	+20.27%
Price / MAexp7:	-0.33%
Price / MAexp20:	-0.67%
Price / MAexp50:	+0.86%
Price / MAexp100:	+3.37%

Quotes : - 15 min delayed data - NASDAQ Stocks

News

The latest news and videos published on MERCADOLIBRE INC. at the time of the analysis were as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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