$MELI Setting Up AgainNeed to find my way back into $MELI after getting stopped out for break even on the 23rd.
Looks like its working on a breakout failure reset.
MLB1 trade ideas
MercadoLibre still bullish expectations
Hi viewers, MELI bullish in last periods, here still technically picture looks like it can go more, expecting to see higher bullish push
TP1:1320
TP2:1370
TP3:1410
Short overbought Mercadolibre It has had a vert nice run up off its lows, and it's RSI has now reached 70, where every time before on the daily time frame this signaled a big trend change in direction to the downside. 70 being the oversold area supports the idea of shorting or put options. Along with the formation of the bearish continuation triangle being right at its double top form where it should be forming a top while at a high 70 rsi. If this is correct then starting a put position right about here can turn out to be very beneficial, with a far out as expiration as possible to counter short term volatility. You can always sell at any point in time when profitable opposed to waiting until expiration where time decay negatively effects your premium. I like this stock alot and if this it true I'd be very comfortable going long right after when it gets back on its Growth path. Nothing goes straight up or down, so trying to spot these trend changes can help with trading.
$MELI Potential Add-OnLooking to see if $MELI will give me addon opportunity in the next couple days.
Orange bars would be ideal price action for a low risk addon.
Multiple Ideas for MELI the next weekLike you can see the Graph. MELI has a good fundamentals from the last Earnings and Revenue. One the F. Volume profile levels reach the 61,8% of the Fibonacci Retracement. So It's time to wait if the POC moves to that area and make things more interesting. The other Escenario is Wait for a Breakout. I think both Ideas are good if the Ocillator goes in a red wave marking a good retracement and go bullish again with more power and momentum
MELI clean chartPretty clean chart!
Broke out from the pennant, consolidated, now its time to expansion higher?
Watch $1100 level break for a possible move towards $1300
No break, No trade.
Meli on Bulish RunCurrently Meli stock on bullish uptrend .
MA 150, MA 200 sloping up currently.
Weekly Candle break out from consolidation triangle.
Weekly Candle pattern with Bullish Momentum
Red bar appearing Smart MCDX indicating smart money from Institution start to trickle in .
RSI above 50 indicating price with strong momentum towards upside.
MELI - could be ripe for breakup soonThere are several factors that are aligning in MELI's favour for sustainable recovery in the near future (minor pullbacks not withstanding):
1. Since hitting the low in June2022, it began to whip saw sideways within an ascending triangle pattern. This is a possible reversal pattern when formed after a downtrend.
2. A golden cross on 22 Dec2022: another signal that the trend is possibly reversing up although the stock could still continue to whipsaw for several weeks (sometimes up to a couple of months) until the 200day moving average could flatten or start turning up.
3. Very strong volume in the last 2 days that propelled the stock to move 15.6% in just 2 days to retest the neckline of the ascending triangle.
Watching to see if a (valid) breakup will materialise in the near future (perhaps after the next minor pullback).
Disclaimer: Just my 2 cents and not a trade advice. I may or may not enter into this trade. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
MercadoLibre Inc (Long)MercadoLibre Inc
Long
Entry at 1082.92
Take Profit 1 at 1179.50 (8.92% profit from entry)
Take Profit 2 at 1331.57 (22.96% profit from entry)
Stop loss at 1010.31
MELI Engulfing Green Bar Three Line Bearish886.75)MELI is like a hydrid between Shopify and Amazon on the South American markets
Fundarmentally its revenue compared to market cap is more favorable than either of those.
On the weekly chart, MELI double topped to its historical high in February 2021 and September 2021.
It then descended to a pivot bottom in July 22
The chart now shows a large green engulfing candle taking out most or all of the previous
5-15 candles or a so called " Big Ass Candle". This could represent the end of a consolidation period
and the beginning of the resumption of down-trending price action. Last August a similar
engulfing green weekly candle preceded a downtrend.
I have plotted the long-term anchored VWAP and also the 6-month volume profile.
I will take a short swin trade if price drops below the POC line of the volume profile. ( 886.75)
If however, price approaches or crosses the VWAP ( 1060) I will take a long trade.
Given the stock price a 6 month expiration call or put option may be the best trade
method allowing for the taking of multiple contracts and then scaling out type trade
management stratery.
MELI NASDAQFor Mercado Libre (MELI), do we continue with the bearish scenario?
We see a clear example of the Market Maker Sell Model (MMSM), if this is fulfilled, the Bullish Order Block of the 1-Month period, would be the ideal one to look for upward scenarios or at least think about bullish configurations.
Concept: The Inner Circle Trader (ICT).
Descending TrianglePrice is close to the support line.
Price is below the .618 of the trend up and above the .786 since the COVID low/ATH 2020/ATL 7.91
It appears a bad day or 2 could break support levels as there are a few more not far below the 1st support level.
Price is sitting on top of an aging rectangle.
Prior gap up and support at bottom of this gap did not hold.
EPS (FWD)
8.97
PE (FWD)
96.53
Yield (TTM)
-
Short Interest
2.18%
Market Cap
$43.57B
No recommendation/ATH 2020/ATL 7.91/OBV remains high.
It is difficult for me to project targets to the upside as I use the point of break and the width of the wide end of the triangle to calculate targets. I can make a relatively close guess on where this may break down at.
Spinning top at support right now/indecision.
#MELI 2-2 reversal in monthly chartHello dear Traders,
Here is my idea for #MELI
Price closed below yellow line (previous month low)
Targets marked in the chart (green lines)
Invalidation level marked with red line
Good luck!
❤️Please feel free to ask any question in comments. I will try to answer all! Thank you.
Please, support my work with like, thank you!❤️
Meli Earnings day...Opening up below trend support today..
My target is 799$ or fib support.
If it closes below that we're headed to 700
Stop loss 855
$MELI with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $MELI after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 60%.
MELI monthly frame (562 & 236 support levels)possible hard intermediate C wave down toward 562 as support level 1 & 236 as support level 2
Earnings Beat/Price is Over the RectangleEarnings beat and I am not sure if the numbers were soft. I just see there was a positive reaction.
I have noticed that analysts are setting targets lower, sometimes much lower than last quarter. (NVDA was set to beat 1.52 last quarter. This quarter the number is .52)
So it appears they are lowering targets for some, but not all, to allow for a beat. But in reality, is the stock showing positive growth when they do this? Just something to think about I guess.
I was sitting back just knowing this was going back inside that rectangle. It did not.
The top trendline was resistance but now it is a strong source of support and price bounced off the top trendline..
There is a gap overhead and quite a few red candles. Selling may have exhausted for now.
A spinning top and a Doji/indecision candles/ can be a sign of further upside when it is close to support and opposite if close to resistance. There were 2 in a row close to support.
A Doji and a Spinning top often mean nothing at all. But they do get my attention when they appear in a sensitive place in a chart.
No recommendation.
I just read a great post about doing nothing is sometimes best. I am glad I "sat on my hands". Sometimes I post charts when I am doing nothing in the market so sorry if I am on overload. lol
EPS (FWD)
7.59
PE (FWD)
115.73
Short Interest
2.22%
Market Cap
$44.65B
$MELI $ SUPPORT / BRAKOUTwe will confirm that the price will continue to go down if we didn't break the current resistant around the 850$, and going towards the next support above the 440$.
if we broke the 850$ resistant, and held above it 4h candle , that will confirm the first sign of bullish momentum and going to the next resistant around the 1275$ level .
MELI - Double TopA double top has led price down a bearish road
I have plotted a Fibonacci trend and .236 shows promise for a recovery due to the large support cluster that can be seen around this area
This will continue the uptrend on a higher timeframes
