MERCADOLIBRE INC.

- USD (-)

- 15 min delayed data - NASDAQ Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	MELI
ISIN:

MERCADOLIBRE INC. - Daily - Technical analysis published on 05/03/2024 (GMT)

Timeframe : Daily
- Analysis generated on
Status : IN PROGRESS...

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Bullish

Technical indicators

89%

11%

My opinion

Bullish above

My targets

()

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 . The buyers' bullish objective is set at . A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at .

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

6.1

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

The MERCADOLIBRE INC. price is 1,662.06 USD. The price registered an increase of +10.36% on the session and was traded between 1,617.00 USD and 1,680.00 USD over the period. The price is currently at +2.79% from its lowest and -1.07% from its highest.

1,617.00

1,680.00

1,662.06

A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.

Opening Gap UP

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows an item:

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of MERCADOLIBRE INC. in Daily shows an overall bullish trend. The signals returned by the moving averages are 64.29% bullish. This bullish trend is reinforced by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:

Bullish trend reversal : Moving Average 20

Type : Bullish

Timeframe : Daily

Bullish trend reversal : adaptative moving average 50

Type : Bullish

Timeframe : Daily

Bullish price crossover with Moving Average 100

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 100

Type : Bullish

Timeframe : Daily

An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : Daily

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly

Aroon indicator bullish trend

Type : Bullish

Timeframe : Daily

Ichimoku : price is over the cloud

Type : Bullish

Timeframe : Daily

MACD indicator is back over 0

Type : Bullish

Timeframe : Daily

Ichimoku - Bullish crossover : Tenkan & Kijun

Type : Bullish

Timeframe : Daily

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Horizontal resistance is broken

Type : Bullish

Timeframe : Daily

Resistance of channel is broken

Type : Bullish

Timeframe : Daily

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:

Upside gap

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	1,502.93	1,571.08	1,623.01	1,662.06	1,817.98	1,984.34
Change (%)	-9.57%	-5.47%	-2.35%	-	+9.38%	+19.39%
Change	-159.13	-90.98	-39.05	-	+155.92	+322.28
Level	Major	Intermediate	Intermediate	-	Major	Major

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,402.49	1,423.30	1,464.64	1,485.45	1,526.79	1,547.60	1,588.94
Camarilla	1,488.90	1,494.60	1,500.29	1,505.99	1,511.69	1,517.38	1,523.08
Woodie	1,412.77	1,428.43	1,474.92	1,490.58	1,537.07	1,552.73	1,599.22
Fibonacci	1,423.30	1,447.04	1,461.71	1,485.45	1,509.19	1,523.86	1,547.60

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,256.64	1,290.81	1,348.41	1,382.58	1,440.18	1,474.35	1,531.95
Camarilla	1,380.76	1,389.18	1,397.59	1,406.00	1,414.41	1,422.83	1,431.24
Woodie	1,268.35	1,296.67	1,360.12	1,388.44	1,451.89	1,480.21	1,543.66
Fibonacci	1,290.81	1,325.87	1,347.53	1,382.58	1,417.64	1,439.30	1,474.35

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,126.14	1,225.57	1,342.13	1,441.56	1,558.12	1,657.55	1,774.11
Camarilla	1,399.30	1,419.10	1,438.90	1,458.70	1,478.50	1,498.30	1,518.10
Woodie	1,134.72	1,229.85	1,350.71	1,445.84	1,566.70	1,661.83	1,782.69
Fibonacci	1,225.57	1,308.08	1,359.05	1,441.56	1,524.07	1,575.04	1,657.55

Numerical data

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

Technical indicators

Moving averages

RSI (14):	73.47
MACD (12,26,9):	1.6000
Directional Movement:	28.29
AROON (14):	64.29
DEMA (21):	1,452.70
Parabolic SAR (0,02-0,02-0,2):	1,349.78
Elder Ray (13):	178.97
Super Trend (3,10):	1,476.11
Zig ZAG (10):	1,672.64
VORTEX (21):	0.9900
Stochastique (14,3,5):	88.74
TEMA (21):	1,487.88
Williams %R (14):	-2.07
Chande Momentum Oscillator (20):	276.13
Repulse (5,40,3):	8.2200
ROCnROLL:	1
TRIX (15,9):	-0.2900
Courbe Coppock:	5.13

MA7:	1,471.04
MA20:	1,439.07
MA50:	1,502.37
MA100:	1,585.64
MAexp7:	1,501.30
MAexp20:	1,464.59
MAexp50:	1,502.46
MAexp100:	1,516.32
Price / MA7:	+12.99%
Price / MA20:	+15.50%
Price / MA50:	+10.63%
Price / MA100:	+4.82%
Price / MAexp7:	+10.71%
Price / MAexp20:	+13.48%
Price / MAexp50:	+10.62%
Price / MAexp100:	+9.61%

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.

About author

Londinia AI

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