MLB1 trade ideas
Can $MELI get over $1000 this week? $MELI is building a base around $980 and looks like it wants to move higher. Markets look like they will support. If so, not looking back
MELI IdeaMultiple rising wedges
Led to only a small pullback within the bullrun although
Price target is previous trendline of rising wedge
Lets see if it extends to to this point or further.
MELI and SE CorrelationMercadoLibre ( NASDAQ:MELI ) and Sea Limited ( NYSE:SE ) are two highly correlated stocks in the same sector (Internet entertainment/e-commerce).
Since SE had a 50% increase in the second half of 2018 (marking the beginning of the market-cap similarities), their correlation began, and SE's large moves (or lack thereof) are highly likely to be precursors to moves from MELI, making it a rare case of a leading indicator unlike most (i.e. RSI and MACD which are lagging indicators).
As these moves take time (usually about 3-6 weeks), these plays are for multi-week/month traders who seek consistent returns. I've annotated the correlation plays within the last two years which should serve as a framework for anyone seeking to take advantage of these opportunities in the future.
TL;DR: SE and MELI are highly correlated, and, as annotated in the analysis, SE is a leading indicator for MELI generally speaking. The areas of big moves by SE are usually precursors for big moves by MELI, and areas of consolidation by SE are usually indicators that MELI's big moves will reverse. Ideal time frame: 2-6 weeks per trade.
As always, do your own due-diligence, never risk too much per trade, have your own plans and targets, and be responsible.
Chart image without volume:
$MELI Hitting Resistance - Candle of Death$MELI Hitting Resistance - Candle of Death
Looking over-extended with the gravestone doji on 4 hr chart - finding resistance at the 1.618 fib level. High risk short play.
Short term target - $880.00
If 20d ema line is broken we could see $800 near term.
Note: Education analysis, not investment advice.
MELIMELI
Mercadolibre, Great Company, Great Fundamentals, Great Quarantine Effect.
New way of shopping, see Ali-baba, Amazon, and all e-shops will go high as never seen before.
No doubts, we are looking for a Good Long. Here we have a Good Long.
MELI is SHOP - SHOP is MELIDoes this follow SHOP and break out to ATH's? Target $722
This is accredited to an amazing trader.
MELI - Long - Bull flag forming :Target $678If the bull flag breakout happens with decent volume then the price may hit $678.
Mercadolibre Inc holds to much Risk into earnings
Indicators are already quite bearish
Valuation of the company is crazy.
Momentum stocks usually end with momentum going the wrong way.
Levels to watch for a downside move on the chart
MELI LR AnalysisStrong linear regression uptrend, 0.86. Alligator can be observed to be 'eating' meaning price is moving more often rather than being stagnant.
MercadoLibre Upgraded
Bullish golden cross complete.
Possible entry level $705
Stock at a critical level, possible breakout or failure.
Worked off overbought conditions in previous few sessions.
Piper Sandler analyst Michael Olson raised his price target for MercadoLibre to $760 from $675 on expectations the company will report "strong" Q4 results. The analyst sees upside potential for MercadoLibre's key Q4 metrics and he remains confident in the company's ability to drive growth. He also believes there is "'light at the end of the tunnel" for margin improvement and keeps an Overweight rating on the shares.
Source thefly
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$MELI Mercadolibre Rejected at All Time High MercadoLibre, Inc. engages in the provision of online commerce platform with focus on e-commerce and its related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, Venezuela, and Other Countries. The firm provides users a mechanism for buying, selling and paying as well as collecting, generating leads, and comparing lists through e-commerce transactions. The company was founded by Marcos Eduardo Galperin on October 15, 1999 and is headquartered in Buenos Aires, Argentina.
Maybe time to ring the register in Mercadolibre IncStock is approaching major resistance levels, the Fibonacci golden pocket and horizontal resistance levels, it is losing momentum also.
Recovery from the lows bullish but needs a rest.
Meli 364/349 may be?lets see if there is a volume breakout on this
there is definitely a divergence i see
