Trading (MELI) With Integrated Risk Controls

February 21, 2024, 22:34 pm ET, BY Allen K.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MELI

• Buy MELI slightly over 1608.12 target 1764.93 stop loss @ 1603.48 Details

The technical summary data tells us to buy MELI near 1608.12 with an upside target of 1764.93. This data also tells us to set a stop loss @ 1603.48 to protect against excessive loss in case the stock begins to move against the trade. 1608.12 is the first level of support below 1737.77 , and by rule, any test of support is a buy signal. In this case, support 1608.12 is being tested, a buy signal would exist.

• Short MELI slightly under 1764.93, target 1608.12, stop loss @ 1770.03 Details

The technical summary data is suggesting a short of MELI as it gets near 1764.93 with a downside target of 1608.12. We should have a stop loss in place at 1770.03though. 1764.93 is the first level of resistance above 1737.77, and by rule, any test of resistance is a short signal. In this case, if resistance 1764.93 is being tested, a short signal would exist.

Swing Trading Plans for MELI

• Buy MELI slightly over 1764.93, target 1773.04, Stop Loss @ 1759.83 Details

If 1764.93 begins to break higher, the technical summary data tells us to buy MELI just slightly over 1764.93, with an upside target of 1773.04. The data also tells us to set a stop loss @ 1759.83 in case the stock turns against the trade. 1764.93 is the first level of resistance above 1737.77, and by rule, any break above resistance is a buy signal. In this case, 1764.93, 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 1764.93, target 1716.94, Stop Loss @ 1770.03. Details

The technical summary data is suggesting a short of MELI if it tests 1764.93 with a downside target of 1716.94. We should have a stop loss in place at 1770.03 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, 1764.93, 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 1764.93, target 1765.76, Stop Loss @ 1760.81 Details

If 1764.93 begins to break higher, the technical summary data tells us to buy MELI just slightly over 1764.93, with an upside target of 1765.76. The data also tells us to set a stop loss @ 1760.81 in case the stock turns against the trade. 1764.93 is the first level of resistance above 1737.77, and by rule, any break above resistance is a buy signal. In this case, 1764.93, 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 1764.93, target 1721.13, Stop Loss @ 1769.05. Details

The technical summary data is suggesting a short of MELI if it tests 1764.93 with a downside target of 1721.13. We should have a stop loss in place at 1769.05 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, 1764.93, 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 February 21:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Strong
P1	0	0	1448.6
P2	1721.13	1716.94	1608.12
P3	1765.76	1773.04	1764.93

AI Generated Signals for MELI

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