(MELI) Technical Pivots with Risk Controls

April 03, 2024, 05:52 am ET, BY Scott B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MELI

• Buy MELI slightly over 1486.73 target 1645.83 stop loss @ 1482.44 Details

The technical summary data tells us to buy MELI near 1486.73 with an upside target of 1645.83. This data also tells us to set a stop loss @ 1482.44 to protect against excessive loss in case the stock begins to move against the trade. 1486.73 is the first level of support below 1512.51 , and by rule, any test of support is a buy signal. In this case, support 1486.73 would be being tested, so a buy signal would exist.

• Short MELI slightly under 1645.83, target 1486.73, stop loss @ 1650.58 Details

The technical summary data is suggesting a short of MELI as it gets near 1645.83 with a downside target of 1486.73. We should have a stop loss in place at 1650.58though. 1645.83 is the first level of resistance above 1512.51, and by rule, any test of resistance is a short signal. In this case, if resistance 1645.83 is being tested, so a short signal would exist.

Swing Trading Plans for MELI

• Buy MELI slightly over 1552.22, target 1645.83, Stop Loss @ 1547.74 Details

If 1552.22 begins to break higher, the technical summary data tells us to buy MELI just slightly over 1552.22, with an upside target of 1645.83. The data also tells us to set a stop loss @ 1547.74 in case the stock turns against the trade. 1552.22 is the first level of resistance above 1512.51, and by rule, any break above resistance is a buy signal. In this case, 1552.22, 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 1552.22, target 1501.31, Stop Loss @ 1556.7. Details

The technical summary data is suggesting a short of MELI if it tests 1552.22 with a downside target of 1501.31. We should have a stop loss in place at 1556.7 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, 1552.22, 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 1520.2, target 1552.22, Stop Loss @ 1516.65 Details

If 1520.2 begins to break higher, the technical summary data tells us to buy MELI just slightly over 1520.2, with an upside target of 1552.22. The data also tells us to set a stop loss @ 1516.65 in case the stock turns against the trade. 1520.2 is the first level of resistance above 1512.51, and by rule, any break above resistance is a buy signal. In this case, 1520.2, 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 1520.2, target 1501.31, Stop Loss @ 1523.75. Details

The technical summary data is suggesting a short of MELI if it tests 1520.2 with a downside target of 1501.31. We should have a stop loss in place at 1523.75 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, 1520.2, 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 April 03:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Strong
P1	0	0	1486.73
P2	1495.63	1501.31	1645.83
P3	1520.2	1552.22	1802.17

AI Generated Signals for MELI

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The technical pivots for Mercadolibre Inc. (NASDAQ: MELI) help you determine how to trade, when to buy, when to sell, and how to control risk.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for MELI change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if MELI is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for MELI too.  All of these are offered below the Summary Table.