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MERCADOLIBRE INC. DL-,001MERCADOLIBRE INC. DL-,001MERCADOLIBRE INC. DL-,001

MERCADOLIBRE INC. DL-,001

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Mercado Libre (MELI) could be close to start an impulse waveAssuming that the wave count is correct, Mercado Libre could be close to completing a corrective wave to start the fifth wave of impulse, which could send the price to the range of 2,500-2,700 and high at $ 3,000 in the fall of this year. It is currently at $1,400, the $1,200 is a key support level, more than that I doubt it will go down, if it does touch them, it could be used to buy more. Both the awesome oscillator and squeeze momentum are at the oversold point and have previously served as good entry signals. For its part, although the money flow index is close to 50 points, it still has room to rise after the low of March 8. Therefore, if the indicators and the count do not fail, we should expect a next rally in this stock. NASDAQ:MELI
NASDAQ:MELILong
by amateur_trad3r
#MELI - 1H - 13.11.2020 / Latin American Amazon. MELI BACKGOUNDS MercadoLibre (MELI) is an online e-commerce and payments platform. It operates through the following geographical segments: Brazil, Argentina, Mexico, Venezuela, and Other Countries. The company provides users a platform for buying, selling and paying.  Born in 1999 and founded by Marcos Galperin, its the largest ecommerce company in Latin America. - Exponential growth since 2016. - Boosted by the rise of ecommerce this year due to COVID-19. - Super Strong Fundamental indicators. - Amazing revenue over 2019 - 2020 beating all estimates. Even though MELI is a direct competitor of huge ecommerce companies like Amazon, eBay and Shopify, they operate on a total different market. Quiet similar to Jumia in Africa. Latin America is a huge market full of opportunities where Amazon left spaces that MELI took advantage of. Now, MELI is standing strong and keeps investing heavily to maintain its dominance. Last week was authorized by Brazil Central Bank to operate as a financial institution. Although MELI its an Argentinian company, now its focusing on BRAZIL (209 million people market) and MEXICO (120 million people market). It´s Payments platform MercadoPagos, is a Fintech Payment solution that it is getting adopted massively by Latin Americans. It aloud all kind of business B2C to charge without cash or just transfer money between people. It´s e-commerce platform, operates at a 12 transactions per seconds and 80% of the total sales are from Brazil, Argentina and Mexico. Last quarter revenue jumped to $1.12 billion from $603 million, exceeding analysts' projection of $984.8 million. Unique active users surged 92.2% to 76.1 million, while gross merchandise volume jumped 62.1% to $5.9 billion. With a 64.792B market capitalization, and huge growth potential, MELI is just on initial stages of its history.  This is the kind of share that you might regret on a near future of not buying it earlier. TECHNICAL ANALYSIS.  (1H) Nothing left to say but MELI is on an uptrend basically since February of 2016. I particularly like to analyze it on a 1H timeframe to see how respectful this stock is of supports and resistances of this year.  We´ve got three supports near current price level. Uptrend + MA200 + Fibonacci 0.618. I think that we might see a little test on Fibonacci´s 0.618 and then next stop is all time highs. I would be careful and wait this confirmation before go long. Would be wonderful to close next week above Ichimoku´s red cloud.
NASDAQ:MELILong
by aoberninger
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