(MELI) Pivots Trading Plans and Risk Controls

December 05, 2024, 01:32 am ET, BY Neal- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MELI

• Buy MELI near 1789.85 target 2001.72 stop loss @ 1784.68 Details

The technical summary data tells us to buy MELI near 1789.85 with an upside target of 2001.72. This data also tells us to set a stop loss @ 1784.68 to protect against excessive loss in case the stock begins to move against the trade. 1789.85 is the first level of support below 1987.43 , and by rule, any test of support is a buy signal. In this case, support 1789.85 would be being tested, so a buy signal would exist.

• Short MELI slightly under 2001.72, target 1789.85, stop loss @ 2007.5 Details

The technical summary data is suggesting a short of MELI as it gets near 2001.72 with a downside target of 1789.85. We should have a stop loss in place at 2007.5though. 2001.72 is the first level of resistance above 1987.43, and by rule, any test of resistance is a short signal. In this case, if resistance 2001.72 is being tested, so a short signal would exist.

Swing Trading Plans for MELI

• Buy MELI slightly over 2001.72, target 2098.06, Stop Loss @ 1995.94 Details

If 2001.72 begins to break higher, the technical summary data tells us to buy MELI just slightly over 2001.72, with an upside target of 2098.06. The data also tells us to set a stop loss @ 1995.94 in case the stock turns against the trade. 2001.72 is the first level of resistance above 1987.43, and by rule, any break above resistance is a buy signal. In this case, 2001.72, 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 2001.72, target 1955.31, Stop Loss @ 2007.5. Details

The technical summary data is suggesting a short of MELI if it tests 2001.72 with a downside target of 1955.31. We should have a stop loss in place at 2007.5 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, 2001.72, 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 2001.72, target 2098.06, Stop Loss @ 1997.05 Details

If 2001.72 begins to break higher, the technical summary data tells us to buy MELI just slightly over 2001.72, with an upside target of 2098.06. The data also tells us to set a stop loss @ 1997.05 in case the stock turns against the trade. 2001.72 is the first level of resistance above 1987.43, and by rule, any break above resistance is a buy signal. In this case, 2001.72, 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 2001.72, target 1962.58, Stop Loss @ 2006.39. Details

The technical summary data is suggesting a short of MELI if it tests 2001.72 with a downside target of 1962.58. We should have a stop loss in place at 2006.39 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, 2001.72, 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 December 05:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	1789.85
P2	1880.04	1955.31	2001.72
P3	1962.58	2098.06	2207.87

AI Generated Signals for MELI

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This Mercadolibre Inc. (NASDAQ: MELI) report was produced by Stock Traders Daily.  Over the past 20 years our metholdology has been refined to help identify strategies for both individual stocks and the stock markets, with prudent risk controls.

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.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

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.