MERCADOLIBRE INC.

- USD (-)

- 15 min delayed data - NASDAQ Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	MELI
ISIN:

MERCADOLIBRE INC. - 1H - Technical analysis published on 11/08/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

44%

17%

39%

My opinion

Bearish under 1,913.47 USD

My targets

1,788.63 USD (-3.69%)

1,760.01 USD (-5.23%)

My analysis

All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on MERCADOLIBRE INC. as long as the price remains well below 1,913.47 USD. The sellers' bearish objective is set at 1,788.63 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1,760.01 USD. In case of crossing, the next objective would be the support located at 1,617.36 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.

Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.

Force

5.2

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

MERCADOLIBRE INC. rating 1,857.07 USD. The price has increased by +4.68% since the last closing and was traded between 1,793.10 USD and 1,859.69 USD over the period. The price is currently at +3.57% from its lowest and -0.14% from its highest.

1,793.10

1,859.69

1,857.07

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

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

The Central Records scanner for higher/lower results shows the following items:

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Abnormal volumes on MERCADOLIBRE INC. were detected by the Central Volumes scanner:

Abnormal volumes

Timeframe : 5 days

Technical

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

The probability of a further increase is slight given the direction of the technical indicators.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : 1 hour

Momentum indicator is back over 0

Type : Bullish

Timeframe : 1 hour

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

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	1,617.36	1,760.01	1,788.63	1,857.07	1,984.34	2,027.96	2,103.01
Change (%)	-12.91%	-5.23%	-3.69%	-	+6.85%	+9.20%	+13.24%
Change	-239.71	-97.06	-68.44	-	+127.27	+170.89	+245.94
Level	Intermediate	Intermediate	Intermediate	-	Major	Intermediate	Intermediate

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	1,539.22	1,644.56	1,709.31	1,814.65	1,879.40	1,984.74	2,049.49
Camarilla	1,727.28	1,742.87	1,758.46	1,774.05	1,789.64	1,805.23	1,820.83
Woodie	1,518.92	1,634.41	1,689.01	1,804.50	1,859.10	1,974.59	2,029.19
Fibonacci	1,644.56	1,709.54	1,749.68	1,814.65	1,879.63	1,919.77	1,984.74

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,864.57	1,913.47	1,984.19	2,033.09	2,103.81	2,152.71	2,223.43
Camarilla	2,022.01	2,032.97	2,043.94	2,054.90	2,065.87	2,076.83	2,087.80
Woodie	1,875.47	1,918.93	1,995.09	2,038.55	2,114.71	2,158.17	2,234.33
Fibonacci	1,913.47	1,959.17	1,987.40	2,033.09	2,078.79	2,107.02	2,152.71

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,777.45	1,857.37	1,947.27	2,027.19	2,117.09	2,197.01	2,286.91
Camarilla	1,990.48	2,006.05	2,021.61	2,037.18	2,052.75	2,068.31	2,083.88
Woodie	1,782.45	1,859.87	1,952.27	2,029.69	2,122.09	2,199.51	2,291.91
Fibonacci	1,857.37	1,922.24	1,962.32	2,027.19	2,092.06	2,132.14	2,197.01

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):	39.69
MACD (12,26,9):	-58.8800
Directional Movement:	-12.90
AROON (14):	-42.86
DEMA (21):	1,813.34
Parabolic SAR (0,02-0,02-0,2):	1,968.24
Elder Ray (13):	-5.70
Super Trend (3,10):	1,904.69
Zig ZAG (10):	1,856.51
VORTEX (21):	0.8800
Stochastique (14,3,5):	25.88
TEMA (21):	1,783.53
Williams %R (14):	-71.21
Chande Momentum Oscillator (20):	48.02
Repulse (5,40,3):	1.2800
ROCnROLL:	-1
TRIX (15,9):	-0.4500
Courbe Coppock:	21.30

MA7:	1,999.09
MA20:	2,035.70
MA50:	2,046.15
MA100:	1,907.02
MAexp7:	1,837.47
MAexp20:	1,889.89
MAexp50:	1,964.27
MAexp100:	2,004.34
Price / MA7:	-7.10%
Price / MA20:	-8.77%
Price / MA50:	-9.24%
Price / MA100:	-2.62%
Price / MAexp7:	+1.07%
Price / MAexp20:	-1.74%
Price / MAexp50:	-5.46%
Price / MAexp100:	-7.35%

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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