MercadoLibre — week 6 of the decline
Technical rebound puts the sell signal to the test
MercadoLibre — week 6 of the decline
In Summary
MercadoLibre is at week 6 of a sell signal, with the trade down 8.3% since opening. Last week closed up 2.4% with buyers at 85%: a significant technical rebound, backed by a double bottom in the 1540 area with a 13% bounce, is putting pressure on the ongoing decline. The confirmation week suggests exiting the short position.
IQS Phase
53
ordinary
Signal Strength
2
indecisive week
Sizing
MINIMUM
Ranking
#104 / 131
US stocks
Trade P&L %
-8.29%
from signal to today
restricted Platinum content