MERCADOLIBRE INC (MELI) Stock Technical Analysis
NASDAQ:MELI - Nasdaq - US58733R1023 - Common Stock - Currency: USD
Overall MELI gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MELI is showing a nice and steady performance.
In the last month MELI has a been trading in the 2332.73 - 2645.22 range, which is quite wide. It is currently trading near the lows of this range.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
When comparing the yearly performance of all stocks, we notice that MELI is one of the better performing stocks in the market, outperforming 83% of all stocks.
MELI is one of the better performing stocks in the Broadline Retail industry, it outperforms 85% of 28 stocks in the same industry.
MELI is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MELI is lagging the market slightly.
MELI has an excellent technical rating, but the quality of the setup is only medium 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
1,850.13
2,639.77
4 important support areas can be observed.
- A support zone ranging from 2368.82 to 2386.52. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @1977.05 from a trend line in the weekly time frame.
- Support @1910.94 from a trend line in the daily time frame.
- Support @1868.82 from a trend line in the weekly time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 2468.98 to 2490.55. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 2584.92 to 2613.63. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The long term trend for MELI is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MELI is neutral. |
| ChartMill Relative Strength | 83.78 | POSITIVE | MELI has a high relative strength, it outperformed 83.78% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of MELI is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of MELI is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MELI is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 40.85 | NEUTRAL | The RSI value for MELI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -15.25 | NEGATIVE | The MACD value suggests MELI has a negative trend. |
| Stochastics (14,3) | 21.82 | NEUTRAL | The Stochastics value for MELI is a neutral value. |
| Average True Range in percent/ATR (20) | 2.96 | MEDIUM VOLATILITY | The ATR as a percentage value for MELI suggests some volalility. |
| Average Directional Index/ADX (14) | 19.85 | NEGATIVE | The low ADX value for MELI suggests a weak or negative trend. |
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)
2387.45
-14.65 (-0.61%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustryBroadline Retail
Performance
% Chg-0.61%
1 Week-5.04%
2 Weeks-6.75%
1 Month0.02%
3 Month19.55%
6 Month35.75%
12 Month35.56%
2 Year92.84%
3 Year193.4%
5 Year112.29%
10 Year1726.8%
15 Year3846.2%
Volatility
ATR(14)74.29
ATR(20)%2.96%
ATR Inc22.46%
Range Today49.3
ADR(20)66.94
ADR(20)%2.8%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS83.78
Mansfield0.69
10 Day High2645.22
10 Day Low2358.32
20 Day High2645.22
20 Day Low2332.73
52 Week High2645.22
52 Week Low1579.78
CS1 End2386.52
CR1 Start2468.98
Volume & EV
DER(3)-0.15%
DER(5)-0.38%
Volume341.90K
Volume Incr-13.31%
Vol(5)318.16K
Vol(50)371.76K