MERCADOLIBRE INC. - 1H - Technical analysis published on 11/27/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 1,546.82 USD
My targets
1,623.01 USD (+2.48%)
1,671.59 USD (+5.54%)
My analysis
MERCADOLIBRE INC. is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1,546.82 USD. The next resistance located at 1,623.01 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 1,671.59 USD. After this resistance, buyers could then target 1,984.34 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.9
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Additional analysis
Quotes
The MERCADOLIBRE INC. rating is 1,583.77 USD. On the day, this instrument gained +3.14% and was traded between 1,545.95 USD and 1,598.00 USD over the period. The price is currently at +2.45% from its lowest and -0.89% from its highest.1,545.95
1,598.00
1,583.77
The Central Gaps scanner detects a bullish gap which is a sign that buyers have taken the lead in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of MERCADOLIBRE INC. in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
Price
S3 | S2 | S1 | Price | R1 | R2 | |
---|---|---|---|---|---|---|
ProTrendLines | 1,436.35 | 1,497.27 | 1,546.82 | 1,583.77 | 1,623.01 | 1,984.34 |
Change (%) | -9.31% | -5.46% | -2.33% | - | +2.48% | +25.29% |
Change | -147.42 | -86.50 | -36.95 | - | +39.24 | +400.57 |
Level | Intermediate | Intermediate | Intermediate | - | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,495.22 | 1,508.67 | 1,522.09 | 1,535.54 | 1,548.96 | 1,562.41 | 1,575.83 |
Camarilla | 1,528.11 | 1,530.57 | 1,533.04 | 1,535.50 | 1,537.96 | 1,540.43 | 1,542.89 |
Woodie | 1,495.20 | 1,508.66 | 1,522.07 | 1,535.53 | 1,548.94 | 1,562.40 | 1,575.81 |
Fibonacci | 1,508.67 | 1,518.94 | 1,525.28 | 1,535.54 | 1,545.81 | 1,552.15 | 1,562.41 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,375.52 | 1,412.91 | 1,474.21 | 1,511.60 | 1,572.90 | 1,610.29 | 1,671.59 |
Camarilla | 1,508.36 | 1,517.41 | 1,526.45 | 1,535.50 | 1,544.55 | 1,553.59 | 1,562.64 |
Woodie | 1,387.47 | 1,418.89 | 1,486.16 | 1,517.58 | 1,584.85 | 1,616.27 | 1,683.54 |
Fibonacci | 1,412.91 | 1,450.61 | 1,473.90 | 1,511.60 | 1,549.30 | 1,572.59 | 1,610.29 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,020.36 | 1,080.70 | 1,160.72 | 1,221.06 | 1,301.08 | 1,361.42 | 1,441.44 |
Camarilla | 1,202.14 | 1,215.01 | 1,227.87 | 1,240.74 | 1,253.61 | 1,266.47 | 1,279.34 |
Woodie | 1,030.20 | 1,085.62 | 1,170.56 | 1,225.98 | 1,310.92 | 1,366.34 | 1,451.28 |
Fibonacci | 1,080.70 | 1,134.32 | 1,167.44 | 1,221.06 | 1,274.68 | 1,307.80 | 1,361.42 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 74.76 | |
MACD (12,26,9): | 25.4600 | |
Directional Movement: | 37.72 | |
AROON (14): | 92.86 | |
DEMA (21): | 1,566.32 | |
Parabolic SAR (0,02-0,02-0,2): | 1,545.95 | |
Elder Ray (13): | 29.97 | |
Super Trend (3,10): | 1,537.80 | |
Zig ZAG (10): | 1,581.44 | |
VORTEX (21): | 1.2500 | |
Stochastique (14,3,5): | 87.46 | |
TEMA (21): | 1,573.71 | |
Williams %R (14): | -21.08 | |
Chande Momentum Oscillator (20): | 42.00 | |
Repulse (5,40,3): | 1.0800 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.2000 | |
Courbe Coppock: | 7.21 |
MA7: | 1,505.39 | |
MA20: | 1,405.13 | |
MA50: | 1,308.91 | |
MA100: | 1,289.90 | |
MAexp7: | 1,567.49 | |
MAexp20: | 1,534.04 | |
MAexp50: | 1,492.17 | |
MAexp100: | 1,439.50 | |
Price / MA7: | +5.21% | |
Price / MA20: | +12.71% | |
Price / MA50: | +21.00% | |
Price / MA100: | +22.78% | |
Price / MAexp7: | +1.04% | |
Price / MAexp20: | +3.24% | |
Price / MAexp50: | +6.14% | |
Price / MAexp100: | +10.02% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The latest news and videos published on MERCADOLIBRE INC. at the time of the analysis were as follows:
- Thinking about trading options or stock in MercadoLibre, Tesla, Visa, Microsoft, or Bank of America?
- Thinking about buying stock in Party City, Lucid Group, AMC Entertainment, Delta Air Lines, or MercadoLibre?
- Thinking about trading options or stock in Unity Software, AstraZeneca, Amazon, MercadoLibre, or ASML Holding?
- Thinking about trading options or stock in Block, Mercadolibre, Futu, GameStop, or Regeneron Pharmaceuticals?
- Pedro Arnt, MercadoLibre CFO, joins Aleph Group's Board of Directors
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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