MERCADOLIBRE INC (MELI) Stock Technical Analysis
NASDAQ:MELI - Nasdaq - US58733R1023 - Common Stock - Currency: USD
Taking everything into account, MELI scores 7 out of 10 in our technical rating. In the last year, MELI was one of the better performers, but we do observe some doubts in the very recent evolution.
In the last month MELI has a been trading in the 2345.00 - 2635.88 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been falling strongly lately, it is better to avoid new long positions here.
When comparing the yearly performance of all stocks, we notice that MELI is one of the better performing stocks in the market, outperforming 90% of all stocks.
MELI is part of the Broadline Retail industry. There are 30 other stocks in this industry. MELI outperforms 89% of them.
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.
The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.
Although MELI has an excellent technical rating, it does not offer a high 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
1,829.86
2,632.07
We found 3 important support areas.
- A support zone ranging from 2368.81 to 2368.81. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @1938.26 from a trend line in the weekly time frame.
- A support zone ranging from 1848.34 to 1876.97. 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 2584.92 to 2606.01. 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 | DOWN | NEGATIVE | The short term trend for MELI is down. |
| ChartMill Relative Strength | 90.87 | POSITIVE | MELI has a high relative strength, it outperformed 90.87% 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) | 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) | 40.2 | NEUTRAL | The RSI value for MELI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -39.83 | NEGATIVE | The MACD value suggests MELI has a negative trend. |
| Stochastics (14,3) | 11.54 | OVERSOLD | The low Stochastics value suggests MELI may be oversold. |
| Average True Range in percent/ATR (20) | 2.64 | MEDIUM VOLATILITY | The ATR as a percentage value for MELI suggests some volalility. |
| Average Directional Index/ADX (14) | 32.58 | 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)
2368.82
-18.18 (-0.76%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustryBroadline Retail
Performance
% Chg-0.76%
1 Week-8.25%
2 Weeks-6.94%
1 Month-7.61%
3 Month17.19%
6 Month29.88%
12 Month49.72%
2 Year99.97%
3 Year271.95%
5 Year140.3%
10 Year1571.71%
15 Year4407.75%
Volatility
ATR(14)64.11
ATR(20)%2.64%
ATR Inc-24.61%
Range Today29.96
ADR(20)59.28
ADR(20)%2.5%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS90.87
Mansfield1.2
10 Day High2627.82
10 Day Low2345
20 Day High2635.88
20 Day Low2345
52 Week High2635.88
52 Week Low1550
CS1 End2368.81
CR1 Start2584.92
Volume & EV
DER(3)1.12%
DER(5)1.23%
Volume310.00K
Volume Incr35.6%
Vol(5)485.12K
Vol(50)416.76K