MERCADOLIBRE INC.

- USD (-)

- 15 min delayed data - NASDAQ Stocks

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Type:	Stocks
Ticker:	MELI
ISIN:

MERCADOLIBRE INC. - 1H - Technical analysis published on 11/30/2023 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

50%

17%

33%

My opinion

Bullish above 1,572.90 USD

My targets

1,623.01 USD (+0.83%)

1,671.59 USD (+3.85%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on MERCADOLIBRE INC. as long as the price remains well above 1,572.90 USD. The buyers' bullish objective is set at 1,623.01 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1,671.59 USD. If there is any crossing, the next objective would be the resistance located at 1,984.34 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

7.1

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The MERCADOLIBRE INC. rating is 1,609.68 USD. On the day, this instrument lost -0.06% and was traded between 1,574.36 USD and 1,615.00 USD over the period. The price is currently at +2.24% from its lowest and -0.33% from its highest.

1,574.36

1,615.00

1,609.68

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following results:

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in 1H of this MERCADOLIBRE INC. chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, only 9 technical indicators out of 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	1,398.59	1,436.35	1,485.41	1,609.68	1,623.01	1,984.34
Change (%)	-13.11%	-10.77%	-7.72%	-	+0.83%	+23.28%
Change	-211.09	-173.33	-124.27	-	+13.33	+374.66
Level	Intermediate	Minor	Minor	-	Intermediate	Major

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,574.63	1,583.77	1,597.18	1,606.32	1,619.73	1,628.87	1,642.28
Camarilla	1,604.38	1,606.45	1,608.51	1,610.58	1,612.65	1,614.71	1,616.78
Woodie	1,576.76	1,584.84	1,599.31	1,607.39	1,621.86	1,629.94	1,644.41
Fibonacci	1,583.77	1,592.39	1,597.71	1,606.32	1,614.94	1,620.26	1,628.87

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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	61.60
MACD (12,26,9):	13.9300
Directional Movement:	8.50
AROON (14):	-50.00
DEMA (21):	1,616.50
Parabolic SAR (0,02-0,02-0,2):	1,575.18
Elder Ray (13):	8.85
Super Trend (3,10):	1,575.01
Zig ZAG (10):	1,608.99
VORTEX (21):	1.0100
Stochastique (14,3,5):	78.71
TEMA (21):	1,610.07
Williams %R (14):	-13.19
Chande Momentum Oscillator (20):	20.96
Repulse (5,40,3):	0.9600
ROCnROLL:	1
TRIX (15,9):	0.1600
Courbe Coppock:	1.76

MA7:	1,566.69
MA20:	1,458.10
MA50:	1,324.38
MA100:	1,304.55
MAexp7:	1,605.56
MAexp20:	1,595.43
MAexp50:	1,557.47
MAexp100:	1,498.89
Price / MA7:	+2.74%
Price / MA20:	+10.40%
Price / MA50:	+21.54%
Price / MA100:	+23.39%
Price / MAexp7:	+0.26%
Price / MAexp20:	+0.89%
Price / MAexp50:	+3.35%
Price / MAexp100:	+7.39%

Quotes : - 15 min delayed data - NASDAQ Stocks

News

The last news published on MERCADOLIBRE INC. at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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