When (MELI) Moves Investors should Listen

March 03, 2024, 13:14 pm ET, BY Robert S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MELI

• Buy MELI slightly over 1462.57 target 1620.66 stop loss @ 1458.35 Details

The technical summary data tells us to buy MELI near 1462.57 with an upside target of 1620.66. This data also tells us to set a stop loss @ 1458.35 to protect against excessive loss in case the stock begins to move against the trade. 1462.57 is the first level of support below 1612.75 , and by rule, any test of support is a buy signal. In this case, support 1462.57 would be being tested, so a buy signal would exist.

• Short MELI slightly under 1620.66, target 1462.57, stop loss @ 1625.34 Details

The technical summary data is suggesting a short of MELI as it gets near 1620.66 with a downside target of 1462.57. We should have a stop loss in place at 1625.34though. 1620.66 is the first level of resistance above 1612.75, and by rule, any test of resistance is a short signal. In this case, if resistance 1620.66 is being tested, so a short signal would exist.

Swing Trading Plans for MELI

• Buy MELI slightly over 1620.66, target 1622.31, Stop Loss @ 1615.98 Details

If 1620.66 begins to break higher, the technical summary data tells us to buy MELI just slightly over 1620.66, with an upside target of 1622.31. The data also tells us to set a stop loss @ 1615.98 in case the stock turns against the trade. 1620.66 is the first level of resistance above 1612.75, and by rule, any break above resistance is a buy signal. In this case, 1620.66, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short MELI slightly near 1620.66, target 1523.61, Stop Loss @ 1625.34. Details

The technical summary data is suggesting a short of MELI if it tests 1620.66 with a downside target of 1523.61. We should have a stop loss in place at 1625.34 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 1620.66, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for MELI

• Buy MELI slightly over 1620.66, target 1622.31, Stop Loss @ 1616.88 Details

If 1620.66 begins to break higher, the technical summary data tells us to buy MELI just slightly over 1620.66, with an upside target of 1622.31. The data also tells us to set a stop loss @ 1616.88 in case the stock turns against the trade. 1620.66 is the first level of resistance above 1612.75, and by rule, any break above resistance is a buy signal. In this case, 1620.66, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short MELI slightly near 1620.66, target 1603.79, Stop Loss @ 1624.44. Details

The technical summary data is suggesting a short of MELI if it tests 1620.66 with a downside target of 1603.79. We should have a stop loss in place at 1624.44 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 1620.66, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for  Mercadolibre Inc. (MELI) available here: MELI.

MELI Ratings for March 03:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	1462.57
P2	1572.73	1523.61	1620.66
P3	1603.79	1622.31	1776.42

AI Generated Signals for MELI

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How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  Mercadolibre Inc. (NASDAQ: MELI) report below is a real world example. Included are trading plans for MELI, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.