MERCADOLIBRE INC.

- USD (-)

- 15 min delayed data - NASDAQ Stocks

Open:	-
Change:	-
Volume:	-

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

Type:	Stocks
Ticker:	MELI
ISIN:

MERCADOLIBRE INC. - Weekly - Technical analysis published on 08/05/2024 (GMT)

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

78%

17%

My opinion

Bullish above 1,566.57 USD

My targets

1,984.34 USD (+11.53%)

My analysis

MERCADOLIBRE INC. is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1,566.57 USD. The next resistance located at 1,984.34 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

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

8.4

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 pitiantuta. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The MERCADOLIBRE INC. rating is 1,779.16 USD. The price is up +9.73% over 5 days with the lowest point at 1,579.78 USD and the highest point at 1,820.00 USD. The deviation from the price is +12.62% for the low point and -2.24% for the high point.

1,579.78

1,820.00

1,779.16

The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.

Opening Gap DOWN

Type : Bearish

Timeframe : Openning

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

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

A technical analysis in Weekly of this MERCADOLIBRE INC. chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

An assessment of technical indicators shows a strong bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Weekly

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Weekly

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

Parabolic SAR indicator bullish reversal

Type : Bullish

Timeframe : Weekly

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

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

Near horizontal resistance

Type : Bearish

Timeframe : Weekly

Resistance of channel is broken

Type : Bullish

Timeframe : Weekly

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

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	828.24	1,085.65	1,296.65	1,779.16	1,817.98	1,984.34
Change (%)	-53.45%	-38.98%	-27.12%	-	+2.18%	+11.53%
Change	-950.92	-693.51	-482.51	-	+38.82	+205.18
Level	Minor	Major	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	1,623.07	1,658.01	1,717.08	1,752.02	1,811.09	1,846.03	1,905.10
Camarilla	1,750.29	1,758.91	1,767.52	1,776.14	1,784.76	1,793.38	1,801.99
Woodie	1,635.13	1,664.04	1,729.14	1,758.05	1,823.15	1,852.06	1,917.16
Fibonacci	1,658.01	1,693.93	1,716.11	1,752.02	1,787.94	1,810.12	1,846.03

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,434.43	1,507.11	1,641.62	1,714.30	1,848.81	1,921.49	2,056.00
Camarilla	1,719.16	1,738.16	1,757.15	1,776.14	1,795.13	1,814.13	1,833.12
Woodie	1,465.36	1,522.57	1,672.55	1,729.76	1,879.74	1,936.95	2,086.93
Fibonacci	1,507.11	1,586.25	1,635.15	1,714.30	1,793.44	1,842.34	1,921.49

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):	59.77
MACD (12,26,9):	52.1100
Directional Movement:	11.77
AROON (14):	100.00
DEMA (21):	1,718.07
Parabolic SAR (0,02-0,02-0,2):	1,579.78
Elder Ray (13):	60.07
Super Trend (3,10):	1,390.40
Zig ZAG (10):	1,779.48
VORTEX (21):	1.0600
Stochastique (14,3,5):	83.84
TEMA (21):	1,722.40
Williams %R (14):	-14.92
Chande Momentum Oscillator (20):	30.54
Repulse (5,40,3):	15.0300
ROCnROLL:	1
TRIX (15,9):	0.3600
Courbe Coppock:	21.93

MA7:	1,676.60
MA20:	1,684.34
MA50:	1,653.59
MA100:	1,596.92
MAexp7:	1,711.27
MAexp20:	1,651.21
MAexp50:	1,545.04
MAexp100:	1,411.00
Price / MA7:	+6.12%
Price / MA20:	+5.63%
Price / MA50:	+7.59%
Price / MA100:	+11.41%
Price / MAexp7:	+3.97%
Price / MAexp20:	+7.75%
Price / MAexp50:	+15.15%
Price / MAexp100:	+26.09%

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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