MELI Technical Signal Analysis
MELI have 2 buy signals and 2 sell signals now. The current trend is uptrend starting from 2025-03-07. The total price change during this trend is -0.98%. Recently, the price has decreased but the volume has also decreased, indicating a potential rebound signal. The average turnover of MELI over last 5 trading day is $1,319,025,735.85
2 Bullish Signal
2 Bearish Signal
Name
Signal
Value
Meaning
Moving Average Convergence Divergence (12, 26, 9)
MACD_12_26_9 > 0
2.94
Bullish
Stochastic RSI %K (14, 14, 3, 3)
STOCHRSIk_14_14_3_3 < 20
14.44
Bullish
Name
Signal
Value
Meaning
Awesome Oscillator (5, 34)
AO_5_34 < 0
-46.16
Bearish
Momentum (10 days)
MOM_10 < 0
-140.1
Bearish
2 Bullish Signal
Name
Signal
Value
Meaning
Moving Average Convergence Divergence (12, 26, 9)
MACD_12_26_9 > 0
2.94
Bullish
Stochastic RSI %K (14, 14, 3, 3)
STOCHRSIk_14_14_3_3 < 20
14.44
Bullish
MELI Support and Resistance Level
The support levels for MELI are at 1930.24, 1871.81, and 1777.22, while the resistance levels are at 2119.42, 2177.85, and 2272.44. With the current stock price at 1989.7, it is leaning more toward the support levels.
MELI Technical Analysis
Technical Analysis of MELI Stock
Current Price and Key Levels
As of the latest data, MELI is trading at 2007.33. Key support and resistance levels based on Fibonacci analysis are:
- Resistance 1 (R1): 2271.04
- Support 1 (S1): 1948.06
The stock is currently testing the lower end of its Bollinger Bands, with the 20-period moving average at 2097.54. The bands are:
- Upper Band: 2306.75
- Lower Band: 1888.33
Technical Indicators
- RSI (14): 46.24 (Neutral/Bearish)
- MACD: 33.38 (Bullish, but weakening momentum as MACD Histogram is -22.83)
- Stochastic Oscillator (K: 21.82, D: 21.17) (Oversold)
Price Action and Trend
MELI is currently in a downtrend but approaching a critical support level. The stock has broken below its 50-day moving average and is testing the 200-day moving average.
Recommendation
Buy MELI at current levels (2007.33) with a stop-loss at 1896. The stock is oversold, and the proximity to the lower Bollinger Band suggests a potential bounce. However, be cautious as the MACD histogram indicates weakening upward momentum.
Target Price
- Short-term target: 2271.04 (Fibonacci R1)
- Long-term target: 2532.30 (Fibonacci R3)
Disclaimer
This analysis is for informational purposes only and should not be considered as investment advice. Always consult a financial advisor before making investment decisions.
MELI FAQs
Which bull technical signals does MELI have?
Which bearish technical signals does MELI have?
How reliable is technical analysis?
How can I use moving averages to set entry and exit points for MELI stock?
Is MELI a buy based on overall technical signals summary?
MELI Buy or Sell
MELI has 2 buy signals and 2 sell signals now. Overall the technical rating for MELI is Neutral.
Neutral
Sell
2
Buy
2
MELI Moving Average
This analysis outlines the stock's performance across different time frames using Simple Moving Averages (SMA). In the swing, the stock shows a positive trend with the 1989.7 above the SMA_5. In the short term, the stock shows a negative trend with the 1987.72 below the SMA_20. In the mid term, the stock shows a positive trend with the 2089.47 above the SMA_60. In the long term, the stock shows a positive trend with the 1918.8 above the SMA_200.
Swing
Positive
Stock Price Above SMA_5
Short Term
Negative
SMA_5 Below SMA_20
Mid Term
Positive
SMA_20 Above SMA_60
Long Term
Positive
SMA_60 Above SMA_200
Free Financial AI Agent for Investment
Ask any investment related question and get answer instantly
What do technical indicators suggest about MELI's current trend?What are MELI's key support and resistance levels?