Fresh Long, double bottom and an 11% rebound
MercadoLibre gains 5% as the 11% rebound confirms the fresh Long
Fresh Long, double bottom and an 11% rebound
Our view last week
A fresh buy signal fires on MercadoLibre, ranking 5th among the 10 new Longs for US stocks. Signal strength is medium, at 66 out of 100, in a profile of medium conviction but elevated volatility: a wide move, to manage with discipline. The stock still sits well below its all-time high, with wide running room ahead.
This week's summary
MercadoLibre shares close the week up 5%, breaking out of a clean double bottom in the 1560 area with an 11% rebound. It's the confirmation the fresh buy signal needed: signal strength climbs to 70 out of 100, and the stock ranks 31st among the 129 US Longs already open. Price is now squeezed between two close levels, resistance just above and support just below — a technical picture worth watching closely in the weeks ahead.
IQS Phase
66
in tension
Signal Strength
70
high · wide & volatile
Sizing
FULL
Ranking
#31 / 129
US stocks in progress
Trade P&L %
+5.04%
from signal to today
restricted Platinum content