MELI
📈 Technical Breakout: MercadoLibre broke above a key downward channel this week, signaling a potential buy opportunity based on technical analysis.
👍 Bullish Indicators: RSI, MACD, and Concord indicators are all pointing upwards, with significant buying from large institutional investors (‘Manos Grandes’).
🌎 Favorable Macro Context: As the leading e-commerce player in Latin America, MELI could benefit significantly if the region emerges stronger from current global trade tensions.
@ClaveBursatilTV:
“The other one that we bought, which we were already bought into but bought more of, was MercadoLibre. Mercado Libre, although it doesn’t trade on the local stock exchange, trades through the CEDAR. It also had a bearish channel that it broke this week, giving us a buy signal again. Then it had a Doji day, and on Friday, well, sorry, on Thursday, it didn’t end too badly. So, as long as it holds above the moving averages, we will remain bought. The idea of the trade, obviously, is to see if it reaches previous highs, with an intermediate maximum that could potentially act as resistance. We’ll see how the market behaves in general. Again, we have earnings reports; it’s going to be a couple of weeks, I would say, more on pause than anything else, but there we are with a bullish perspective on Mercado Libre. Indicators: we have RSI which is bullish, we have a MACD also bullish, and a Concord also bullish, with big hands buying. So, these are the two we’ve bought with prospects of making a nice trade in the middle of two weeks with earnings reports, which, well, honestly, there isn’t much growth perspective, especially with the weekly candles I showed you for the US indices. The US, for now, unless there’s news of Trump reaching an agreement with Xi Jinping, etc., there isn’t much bullish perspective in the United States.”
Watch the exact part of the video where @ClaveBursatilTV talks about MercadoLibre here:
Watch the video on YouTube
Read more articles analyzing MercadoLibre (MELI) at the provided link. MELI stock.
