Learn to Evaluate (MELI) using the Charts

Longer Term Trading Plans for MELI

• Buy MELI near 2326.32 target 2593.38 stop loss @ 2319.6 Details

The technical summary data tells us to buy MELI near 2326.32 with an upside target of 2593.38. This data also tells us to set a stop loss @ 2319.6 to protect against excessive loss in case the stock begins to move against the trade. 2326.32 is the first level of support below 2514.05 , and by rule, any test of support is a buy signal. In this case, support 2326.32 is being tested, a buy signal would exist.

• Short MELI slightly under 2593.38, target 2326.32, stop loss @ 2600.87 Details

The technical summary data is suggesting a short of MELI as it gets near 2593.38 with a downside target of 2326.32. We should have a stop loss in place at 2600.87though. 2593.38 is the first level of resistance above 2514.05, and by rule, any test of resistance is a short signal. In this case, if resistance 2593.38 is being tested, a short signal would exist.

Swing Trading Plans for MELI

• Buy MELI slightly over 2593.38, target 2626.65, Stop Loss @ 2585.89 Details

If 2593.38 begins to break higher, the technical summary data tells us to buy MELI just slightly over 2593.38, with an upside target of 2626.65. The data also tells us to set a stop loss @ 2585.89 in case the stock turns against the trade. 2593.38 is the first level of resistance above 2514.05, and by rule, any break above resistance is a buy signal. In this case, 2593.38, 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 2593.38, target 2506.06, Stop Loss @ 2600.87. Details

The technical summary data is suggesting a short of MELI if it tests 2593.38 with a downside target of 2506.06. We should have a stop loss in place at 2600.87 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, 2593.38, 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 2524.15, target 2593.38, Stop Loss @ 2518.26 Details

If 2524.15 begins to break higher, the technical summary data tells us to buy MELI just slightly over 2524.15, with an upside target of 2593.38. The data also tells us to set a stop loss @ 2518.26 in case the stock turns against the trade. 2524.15 is the first level of resistance above 2514.05, and by rule, any break above resistance is a buy signal. In this case, 2524.15, 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 2524.15, target 2506.06, Stop Loss @ 2530.04. Details

The technical summary data is suggesting a short of MELI if it tests 2524.15 with a downside target of 2506.06. We should have a stop loss in place at 2530.04 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, 2524.15, 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 July 06:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	2049.1
P2	2446.29	2506.06	2326.32
P3	2524.15	2626.65	2593.38

AI Generated Signals for MELI

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