Taking everything into account, MELI scores 0 out of 10 in our technical rating. 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 technical rating of MELI is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
1,932.26
We can see 6 important resistance areas.
- A resistance zone ranging from 1951.79 to 1966.08. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- Resistance @2077.18 from a horizontal line in the daily time frame.
- A resistance zone ranging from 2156.90 to 2222.59. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @2268.32 from a trend line in the daily time frame.
- Resistance @2368.82 from a horizontal line in the daily time frame.
- Resistance @2439.11 from a trend line in the daily time frame.
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 | DOWN | NEGATIVE | The short term trend for MELI is down. |
| ChartMill Relative Strength | 25.78 | NEGATIVE | MELI has a low relative strength, it was outperformed by 74.22% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MELI is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MELI is below 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) | 34.7 | NEUTRAL | The RSI value for MELI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -19.88 | NEGATIVE | The MACD value suggests MELI has a negative trend. |
| Stochastics (14,3) | 10.73 | OVERSOLD | The low Stochastics value suggests MELI may be oversold. |
| Average True Range in percent/ATR (20) | 4.72 | MEDIUM VOLATILITY | The ATR as a percentage value for MELI suggests some volalility. |
| Average Directional Index/ADX (14) | 23.22 | NEUTRAL | The ADX value for MELI suggests a possible start of a new trend. |
1951.78
+52.03 (+2.74%)
MERCADOLIBRE INC / MELI FAQ
What is the technical rating for MELI stock?
ChartMill assigns a technical rating of 0 / 10 to MELI.
Can you provide the trend direction for MERCADOLIBRE INC?
The current trend direction for MERCADOLIBRE INC (MELI) is Bearish.
What is the RSI signal for MELI stock?
MERCADOLIBRE INC (MELI) has an RSI value of 34.7046. This indicates that the stock is currently neutral.
What is the MACD signal for MELI stock?
The MACD indicator for MERCADOLIBRE INC (MELI) has a value of -19.876, indicating a bearish trend.
What is the buy/sell signal for MELI stock?
The buy/sell signal for MERCADOLIBRE INC (MELI) is sell as both the short term and long term trends are negative.