MERCADOLIBRE INC (MELI) Technical Analysis
NASDAQ:MELI • US58733R1023
Current stock price
1850.05 USD
+57.42 (+3.2%)
At close:
1847.01 USD
-3.04 (-0.16%)
After Hours:
MELI Technical Rating and Analysis
We assign a technical rating of 1 out of 10 to MELI. MELI's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
- When comparing the yearly performance of all stocks, MELI is a bad performer in the overall market: 85% of all stocks are doing better.
- MELI is one of the lesser performing stocks in the Broadline Retail industry. 68% of 30 stocks in the same industry do better.
- MELI is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- In the last month MELI has a been trading in the 1691.91 - 1903.00 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
MELI Weekly and Daily overview Charts
MELI Setup Rating and Analysis
Although the technical rating is bad, MELI does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 1855.84. Right above this resistance zone may be a good entry point.
More info and screens
MELI Support and Resistance Analysis
1,566.32
2,384.37
We found 2 important support areas.
- A support zone ranging from 1814.44 to 1833.72. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 1582.14 to 1599.51. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 5 important resistance areas.
- A resistance zone ranging from 1855.84 to 1872.13. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @1930.41 from a trend line in the weekly time frame.
- Resistance @2127.31 from a trend line in the daily time frame.
- Resistance @2221.44 from a trend line in the daily time frame.
- Resistance @2360.76 from a horizontal line in the daily time frame.
MELI Technical Indicator Signal Analysis
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for MELI is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MELI is neutral. |
| ChartMill Relative Strength | 15.7 | NEGATIVE | MELI has a low relative strength, it was outperformed by 84.3% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MELI is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of MELI is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MELI is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 56.27 | NEUTRAL | The RSI value for MELI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.78 | NEGATIVE | The MACD value suggests MELI has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 39.54 | NEUTRAL | The Stochastics value for MELI is a neutral value. |
| Average True Range in percent/ATR (20) | 3.04 | MEDIUM VOLATILITY | The ATR as a percentage value for MELI suggests some volalility. |
| Average Directional Index/ADX (14) | 17.73 | NEGATIVE | The low ADX value for MELI suggests a weak or negative trend. |
MELI Chart- and CandleStick Pattern Analysis
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
MELI Technicals: Chart, Performance Metrics, Trend & Indicators
1850.05
+57.42 (+3.2%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustryBroadline Retail
Performance
% Chg3.2%
1 Week0.81%
2 Weeks-0.31%
1 Month7.84%
3 Month-13.86%
6 Month-20.51%
12 Month-18.88%
2 Year7.21%
3 Year49.32%
5 Year36.17%
10 Year1255.35%
15 Year1999.47%
Volatility
ATR(14)53.32
ATR(20)%3.04%
ATR Inc7.58%
Range Today61.91
ADR(20)52.23
ADR(20)%2.82%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS15.7
3 months CRS17.48
6 months CRS19.66
Mansfield-2.26
10 Day High1903
10 Day Low1738
20 Day High1903
20 Day Low1691.91
52 Week High2645.22
52 Week Low1593.21
CS1 End1833.72
CR1 Start1855.84
Volume & EV
DER(3)0.21%
DER(5)-0.79%
Volume375.10K
Volume Incr-7.92%
Vol(5)367.54K
Vol(50)529.42K
MERCADOLIBRE INC / MELI TA FAQ
What is the technical rating for MELI stock?
ChartMill assigns a technical rating of 1 / 10 to MELI.
What is the trend direction for MELI stock?
The current trend direction for MERCADOLIBRE INC (MELI) is Bearish.
What is the RSI signal for MERCADOLIBRE INC (MELI) stock?
MERCADOLIBRE INC (MELI) has an RSI value of 56.2681. This indicates that the stock is currently neutral.
Can you provide the MACD signal for MERCADOLIBRE INC?
The MACD indicator for MERCADOLIBRE INC (MELI) has a value of -1.78213, indicating a bearish trend.
Can you provide the short term momentum for MERCADOLIBRE INC?
The short term momentum for MERCADOLIBRE INC (MELI) is neutral.