MERCADOLIBRE INC (MELI) Stock Technical Analysis
NASDAQ:MELI - Nasdaq - US58733R1023 - Common Stock - Currency: USD
Taking everything into account, MELI scores 10 out of 10 in our technical rating. 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.
The long and short term trends are both positive. This is looking good!
Looking at the yearly performance, MELI did better than 93% of all other stocks. On top of that, MELI also shows a nice and consistent pattern of rising prices.
MELI is part of the Broadline Retail industry. There are 31 other stocks in this industry. MELI outperforms 96% of them.
A new 52 week high is currently being made by MELI, which is a very good signal! Especially since the S&P500 is only trading in the upper part of its 52 week range, so MELI is leading the market.
In the last month MELI has a been trading in the 2186.00 - 2635.88 range, which is quite wide. It is currently trading near the high of this range.
Although MELI has an excellent technical rating, the quality of the presented setup is not ideal 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
1,814.65
2,632.08
4 important support areas can be observed.
- Support @2489.56 from a trend line in the daily time frame.
- A support zone ranging from 2229.00 to 2251.25. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @1909.17 from a trend line in the weekly time frame.
- A support zone ranging from 1832.98 to 1851.94. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 2606.02 to 2606.02. 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 | UP | POSITIVE | The short term trend for MELI is up. |
| ChartMill Relative Strength | 93.63 | POSITIVE | MELI has a high relative strength, it outperformed 93.63% 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) | UP | POSITIVE | The current price of MELI is above 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) | 76.27 | OVERBOUGHT | The high RSI value suggests MELI may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 10.95 | POSITIVE | The MACD value suggests MELI has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 93.27 | OVERBOUGHT | The high Stochastics value suggests MELI may be overbought. |
| Average True Range in percent/ATR (20) | 2.79 | MEDIUM VOLATILITY | The ATR as a percentage value for MELI suggests some volalility. |
| Average Directional Index/ADX (14) | 40.75 | POSITIVE | The high ADX value value for MELI suggests a strong 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)
2606.01
+4.04 (+0.16%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustryBroadline Retail
Performance
% Chg0.16%
1 Week0.75%
2 Weeks8.13%
1 Month18.2%
3 Month15.31%
6 Month29.98%
12 Month53.88%
2 Year110.33%
3 Year231.6%
5 Year205.99%
10 Year1695.64%
15 Year4924.12%
Volatility
ATR(14)71.25
ATR(20)%2.79%
ATR Inc6.95%
Range Today74.88
ADR(20)66.61
ADR(20)%2.56%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS93.63
Mansfield2.97
10 Day High2635.88
10 Day Low2413.86
20 Day High2635.88
20 Day Low2186
52 Week High2635.88
52 Week Low1550
CS1 End2489.56
CR1 Start2606.02
Volume & EV
DER(3)1.06%
DER(5)0.43%
Volume282.30K
Volume Incr-24.13%
Vol(5)306.16K
Vol(50)438.06K