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As the portfolio of the biggest hedge funds, MELI is going popular among some of them. Here I have analyzes the chart with Trend lines, Fibonacci and clusters, As you can see the red circle is a good entry point if the bearish trend line breaks.
Currently at Wave 3 consolidation A-B-C. Touched 50 SMA support. Might dip to Fib .38 at $1703. First level of support at $1770. If cannot hold, will further to Fib .38 Level. Great entry zone for long term.
Entry price : 1942.61 Fundamentals : - Sector: Internet Retail - EPS % Chg (Last Qtr): 109% - EPS % Chg (Previous Qtr): 257% - 3 Year EPS Growth Rate: 0% - EPS Est % Chg (Current Yr): 0% - Sales % Chg (Last Qtr): 85% - Sales % Chg (Previous Qtr): 61% - 3-Year Sales Growth Rate: 42% - Annual Pre -Tax Margin: -0.4%
Broke above its channel divider which will now act as strong support.. 2300$ is the target/channel top... The moves this stock makes reminds me of Amazon last summer. Motley fools endorsement does wonders
Today MELI has done a little throw back to 0,618 Fibo, recognizing the 20 wma. The stock don't seem bearish, not only for technical indicators like wmas, Fibo or MACD, than fundamentals, like earnings of the last year, or it's closely future at Brasil and at Mexico.
MERCADO LIBRE is an logistic and international market place. The pandemic year and the confrontation with Argentinian government were special to its development. MELI has begun a big territorial growth along Latinoamérica. Brazil and México are the objectives. Will Galperín gain mexican market, specially against Amazon and Ebay?
Redline (split Channel) White lines ( Weekly channel) yellow line (Down trend breakout) Green lines - 1670 is support/1724 is breakout conformation/1874 first target Meli jumped huge Friday on news of its debt offering..
MELI BACKGOUNDS MercadoLibre (MELI) is an online e-commerce and payments platform. It operates through the following geographical segments: Brazil, Argentina, Mexico, Venezuela, and Other Countries. The company provides users a platform for buying, selling and paying. Born in 1999 and founded by Marcos Galperin, its the largest ecommerce company in Latin...
this is a crazy run up! it should continue up longterm but id look for a test of 600-800 before the years over. dont doubt my vibe ;)
MERCADOLIBRE - ELLIOTT - ROMPE TENDENCIA
MELI is up 29% compared to AMZN 15% the past month. Good luck and happy trading friends...