MERCADOLIBRE INC.

- USD (-)

- 15 min delayed data - NASDAQ Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
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High / Low range:	-

Type:	Stocks
Ticker:	MELI
ISIN:

MERCADOLIBRE INC. - Daily - Technical analysis published on 02/05/2024 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

56%

39%

My opinion

Bullish above 1,652.01 USD

My targets

1,846.72 USD (+4.36%)

1,984.34 USD (+12.14%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on MERCADOLIBRE INC. as long as the price remains well above 1,652.01 USD. The buyers' bullish objective is set at 1,846.72 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1,984.34 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

7.7

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.

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Additional analysis

Quotes

MERCADOLIBRE INC. rating 1,769.49 USD. The price registered a decrease of -0.19% on the session and was traded between 1,752.06 USD and 1,778.69 USD over the period. The price is currently at +0.99% from its lowest and -0.52% from its highest.

1,752.06

1,778.69

1,769.49

So that you have an overall view of the price change, here is a table showing the variations over several periods:

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

A technical analysis in Daily of this MERCADOLIBRE INC. chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The probability of a further increase are moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

MACD indicator: bearish divergence

Type : Bearish

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

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

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:

Near horizontal resistance

Type : Bearish

Timeframe : Daily

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these signals that could have an impact on the current short-term trend:

Bearish harami

Type : Bearish

Timeframe : Daily

Doji

Type : Neutral

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	1,436.35	1,500.00	1,652.01	1,769.49	1,795.80	1,984.34
Change (%)	-18.83%	-15.23%	-6.64%	-	+1.49%	+12.14%
Change	-333.14	-269.49	-117.48	-	+26.31	+214.85
Level	Intermediate	Intermediate	Intermediate	-	Major	Major

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,681.12	1,703.72	1,738.31	1,760.91	1,795.50	1,818.10	1,852.69
Camarilla	1,757.17	1,762.42	1,767.66	1,772.90	1,778.14	1,783.39	1,788.63
Woodie	1,687.12	1,706.72	1,744.31	1,763.91	1,801.50	1,821.10	1,858.69
Fibonacci	1,703.72	1,725.57	1,739.06	1,760.91	1,782.76	1,796.25	1,818.10

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,623.98	1,664.64	1,718.77	1,759.43	1,813.56	1,854.22	1,908.35
Camarilla	1,746.83	1,755.52	1,764.21	1,772.90	1,781.59	1,790.28	1,798.97
Woodie	1,630.72	1,668.01	1,725.51	1,762.80	1,820.30	1,857.59	1,915.09
Fibonacci	1,664.64	1,700.85	1,723.22	1,759.43	1,795.64	1,818.01	1,854.22

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,213.82	1,348.73	1,530.27	1,665.18	1,846.72	1,981.63	2,163.17
Camarilla	1,624.79	1,653.79	1,682.80	1,711.81	1,740.82	1,769.83	1,798.83
Woodie	1,237.14	1,360.39	1,553.59	1,676.84	1,870.04	1,993.29	2,186.49
Fibonacci	1,348.73	1,469.61	1,544.30	1,665.18	1,786.06	1,860.75	1,981.63

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	62.80
MACD (12,26,9):	48.5600
Directional Movement:	12.86
AROON (14):	57.15
DEMA (21):	1,771.90
Parabolic SAR (0,02-0,02-0,2):	1,794.52
Elder Ray (13):	32.38
Super Trend (3,10):	1,650.68
Zig ZAG (10):	1,768.01
VORTEX (21):	1.1900
Stochastique (14,3,5):	80.85
TEMA (21):	1,781.28
Williams %R (14):	-17.36
Chande Momentum Oscillator (20):	106.03
Repulse (5,40,3):	1.7600
ROCnROLL:	1
TRIX (15,9):	0.4200
Courbe Coppock:	16.26

MA7:	1,758.52
MA20:	1,700.94
MA50:	1,631.38
MA100:	1,465.50
MAexp7:	1,753.23
MAexp20:	1,707.69
MAexp50:	1,619.07
MAexp100:	1,517.26
Price / MA7:	+0.62%
Price / MA20:	+4.03%
Price / MA50:	+8.47%
Price / MA100:	+20.74%
Price / MAexp7:	+0.93%
Price / MAexp20:	+3.62%
Price / MAexp50:	+9.29%
Price / MAexp100:	+16.62%

Quotes : - 15 min delayed data - NASDAQ Stocks

News

The last news published on MERCADOLIBRE INC. at the time of the generation of this analysis was as follows:

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

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