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Buy MercadoLibre | NASDAQ MELI | Naranj Capital

SHORT TERM TRADING ADVICE IN USA

 BUY   MercadoLibre (NASDAQ: MELI)

MercadoLibre (NASDAQ: MELI) - STOCK RECOMMENDATION

Idea BUY
Buy Range 2000 – 2030
Target 2120 – 2150
StopLoss* below 1950
Duration 12-14 Trading Days
Potential Returns 5% – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 2000 – 2030 2120 – 2150 below 1950 12-14 Trading Days 5% – 6%

* Once the first target hit, reset the StopLoss at your buying price.

MercadoLibre (NASDAQ: MELI) - STOCK OVERVIEW

MercadoLibre, Inc. runs online shopping platforms in the U.S. It features Mercado Libre Marketplace for businesses and individuals to buy and sell goods online, and Mercado Pago, a financial tech platform for easy payment transactions. Users can send and receive payments online and transfer money via websites or apps. The company also offers Mercado Fondo for investing funds, Mercado Credito for loans to merchants and consumers, and Mercado Envios for logistics support with third-party carriers. Additionally, it has Mercado Libre Classifieds for listing vehicles, real estate, and services, Mercado Ads for advertising products, and Mercado Shops for creating and managing online stores. Founded in 1999, it is based in Montevideo, Uruguay.

Stock Data
NASDAQ Symbol MELI
Sectoral Index Consumer Discretionary
52 Weeks High 2030
52 Weeks Low 1141

MercadoLibre (NASDAQ: MELI) - RELATIVE STRENGTH

MELI-RELATIVE STRENGTH

Relative Performance - Last 1 Year

MercadoLibre —     NASDAQ —

MercadoLibre (NASDAQ: MELI) - TECHNICAL ANALYSIS (DAILY)

MercadoLibre (NASDAQ: MELI) - Technical Analysis (Daily)
  • The stock price had earlier established a Rising Wedge pattern, and after a downward breakout, it entered a significant consolidation phase.
  • During this period, an Inverted Head & Shoulders pattern emerged.
  • After the breakout, the stock price surged and is now trading at an all-time high.
  • It is anticipated that this upward momentum will persist, which propel the price to new heights in the near future.

MercadoLibre (NASDAQ: MELI) - RSI

MercadoLibre (NASDAQ: MELI) - RSI
  • Current RSI of this stock is 71.63, which indicates the strength of buyers.

MercadoLibre (NASDAQ: MELI) - ADX & DI

MELI-ADX & DI
MercadoLibre (NASDAQ: MELI) - ADX & DI
  • Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.

MercadoLibre (NASDAQ: MELI) - EMA Cross

MercadoLibre (NASDAQ: MELI) - EMA Cross
  • The short length exponential moving average (10 EMA) has crossed the long length exponential moving average (20 EMA) from the below, generates bullish signal. Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

CONCLUSION - MercadoLibre (NASDAQ: MELI) STOCK PRICE FORECAST

Based on our swing stock trading advice in USA, MercadoLibre share price target will be USD 2120 – 2150 in the next 12-14 trading sessions.

MercadoLibre (NASDAQ: MELI) - TRADINGVIEW POSITION UPDATE

Buy MercadoLibre by NaranjCapital on TradingView.com

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable to enter/exit in the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other trading recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance of Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as a Certified Financial Technician (CFTe) by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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