MERCADOLIBRE INC.

165.65 USD (-0.55%)

03/27/2025 - 10:49 Open 15 min delayed data - NASDAQ Stocks

Open:	166.91
Change:	-0.92
Volume:	0

Low:	164.87
High:	166.91
High / Low range:	2.04

Type:	Stocks
Ticker:	MELI
ISIN:

MERCADOLIBRE INC. - Daily - Technical analysis published on 08/02/2024 (GMT)

126
0
08/02/2024 - 15:35
0

Londinia

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Timeframe : Daily
- Analysis generated on 08/02/2024 - 15:35
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

50%

22%

28%

My opinion

Bullish above 1,708.67 USD

My targets

1,817.98 USD (+3.67%)

1,984.34 USD (+13.16%)

My analysis

The bullish trend is currently very strong on MERCADOLIBRE INC.. As long as the price remains above the support at 1,708.67 USD, you could try to benefit from the boom. The first bullish objective is located at 1,817.98 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1,984.34 USD as an objective. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.

Force

6.3

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 1,753.61 USD. On the day, this instrument gained +9.19% and was between 1,692.96 USD and 1,786.97 USD. This implies that the price is at +3.58% from its lowest and at -1.87% from its highest.

1,692.96

1,786.97

1,753.61

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

The Central Records scanner for higher/lower results shows the following items:

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of MERCADOLIBRE INC. indicates that the overall trend is strongly bullish. The signals given by the moving averages are 85.71% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:

Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : Daily

Bullish price crossover with Moving Average 50

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 50

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 100

Type : Bullish

Timeframe : Daily

In fact, of the 18 technical indicators analysed by Central Analyzer, 9 are bullish, 5 are neutral and 4 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly

RSI indicator is back over 50

Type : Bullish

Timeframe : Daily

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

Momentum indicator is back over 0

Type : Bullish

Timeframe : Daily

Williams %R indicator is back over -50

Type : Bullish

Timeframe : Daily

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 resistance of channel

Type : Bearish

Timeframe : Daily

Near resistance of triangle

Type : Bearish

Timeframe : Daily

Horizontal resistance is broken

Type : Bullish

Timeframe : Daily

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	1,500.94	1,652.01	1,708.67	1,753.61	1,817.98	1,984.34
Change (%)	-14.41%	-5.79%	-2.56%	-	+3.67%	+13.16%
Change	-252.67	-101.60	-44.94	-	+64.37	+230.73
Level	Major	Intermediate	Intermediate	-	Major	Major

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,420.39	1,500.09	1,553.07	1,632.77	1,685.75	1,765.45	1,818.43
Camarilla	1,569.57	1,581.74	1,593.90	1,606.06	1,618.22	1,630.39	1,642.55
Woodie	1,407.04	1,493.41	1,539.72	1,626.09	1,672.40	1,758.77	1,805.08
Fibonacci	1,500.09	1,550.77	1,582.08	1,632.77	1,683.45	1,714.76	1,765.45

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,492.99	1,544.12	1,597.91	1,649.04	1,702.83	1,753.96	1,807.75
Camarilla	1,622.84	1,632.46	1,642.07	1,651.69	1,661.31	1,670.93	1,680.54
Woodie	1,494.31	1,544.79	1,599.23	1,649.71	1,704.15	1,754.63	1,809.07
Fibonacci	1,544.12	1,584.20	1,608.96	1,649.04	1,689.12	1,713.88	1,753.96

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,365.28	1,464.25	1,566.57	1,665.54	1,767.86	1,866.83	1,969.15
Camarilla	1,613.55	1,632.00	1,650.45	1,668.90	1,687.35	1,705.80	1,724.26
Woodie	1,366.97	1,465.09	1,568.26	1,666.38	1,769.55	1,867.67	1,970.84
Fibonacci	1,464.25	1,541.14	1,588.64	1,665.54	1,742.43	1,789.93	1,866.83

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):	58.03
MACD (12,26,9):	2.8600
Directional Movement:	-3.17
AROON (14):	7.14
DEMA (21):	1,665.64
Parabolic SAR (0,02-0,02-0,2):	1,579.78
Elder Ray (13):	78.85
Super Trend (3,10):	1,604.82
Zig ZAG (10):	1,738.00
VORTEX (21):	0.9900
Stochastique (14,3,5):	44.68
TEMA (21):	1,660.14
Williams %R (14):	-24.01
Chande Momentum Oscillator (20):	67.12
Repulse (5,40,3):	-3.5100
ROCnROLL:	1
TRIX (15,9):	0.0400
Courbe Coppock:	5.17

MA7:	1,648.70
MA20:	1,677.02
MA50:	1,651.72
MA100:	1,594.07
MAexp7:	1,664.42
MAexp20:	1,659.68
MAexp50:	1,645.79
MAexp100:	1,617.26
Price / MA7:	+6.36%
Price / MA20:	+4.57%
Price / MA50:	+6.17%
Price / MA100:	+10.01%
Price / MAexp7:	+5.36%
Price / MAexp20:	+5.66%
Price / MAexp50:	+6.55%
Price / MAexp100:	+8.43%

Quotes : 08/02/2024 - 15:19 - 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:

11/28/2023 - 14:31 Thinking about buying stock in MercadoLibre, Synopsys, ESGL Holdings, Soluna Holdings, or SenesTech?
02/24/2023 - 14:47 Thinking about trading options or stock in MercadoLibre, Tesla, Visa, Microsoft, or Bank of America?
01/12/2023 - 15:55 Thinking about buying stock in Party City, Lucid Group, AMC Entertainment, Delta Air Lines, or MercadoLibre?
11/10/2022 - 14:40 Thinking about trading options or stock in Unity Software, AstraZeneca, Amazon, MercadoLibre, or ASML Holding?
02/23/2022 - 14:31 Thinking about trading options or stock in Block, Mercadolibre, Futu, GameStop, or Regeneron Pharmaceuticals?

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

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