MERCADOLIBRE INC (MELI) Stock Technical Analysis
NASDAQ:MELI - Nasdaq - US58733R1023 - Common Stock - Currency: USD
Overall MELI gets a technical rating of 5 out of 10. In the last year, MELI was one of the better performers, but we do observe some doubts in the very recent evolution.
MELI is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.
The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
When comparing the yearly performance of all stocks, we notice that MELI is one of the better performing stocks in the market, outperforming 70% of all stocks.
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 is an average performer in the Broadline Retail industry, it outperforms 55% of 28 stocks in the same industry.
MELI has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 2398.27, a Stop Loss order could be placed below this zone.
More info and screens
1,870.41
2,639.77
We found 4 important support areas.
- A support zone ranging from 2351.14 to 2398.27. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @2015.84 from a trend line in the weekly time frame.
- Support @1941.34 from a trend line in the daily time frame.
- Support @1889.30 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- 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 | 70.98 | POSITIVE | MELI has a high relative strength, it outperformed 70.98% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of MELI is above 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) | UP | POSITIVE | The current price of MELI is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 49.93 | NEUTRAL | The RSI value for MELI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 3.85 | POSITIVE | The MACD value suggests MELI has a positive trend. |
| Stochastics (14,3) | 50.59 | NEUTRAL | The Stochastics value for MELI is a neutral value. |
| Average True Range in percent/ATR (20) | 2.36 | MEDIUM VOLATILITY | The ATR as a percentage value for MELI suggests some volalility. |
| Average Directional Index/ADX (14) | 27.13 | 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)
2408.02
+12.19 (+0.51%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustryBroadline Retail
Performance
% Chg0.51%
1 Week0.97%
2 Weeks0.98%
1 Month-2.77%
3 Month-1.71%
6 Month20.6%
12 Month27.84%
2 Year75.47%
3 Year181.52%
5 Year106.06%
10 Year2088.11%
15 Year3551.84%
Volatility
ATR(14)57
ATR(20)%2.36%
ATR Inc135.44%
Range Today161.92
ADR(20)54.91
ADR(20)%2.28%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS70.98
Mansfield0.58
10 Day High2480
10 Day Low2318.08
20 Day High2505
20 Day Low2318.08
52 Week High2645.22
52 Week Low1646
CS1 End2398.27
CR1 Start2584.92
Volume & EV
DER(3)0.16%
DER(5)0.66%
Volume1.12M
Volume Incr74.88%
Vol(5)509.68K
Vol(50)339.98K