MercadoLibre, confirmation holds despite the pullback
MercadoLibre slips 2.1%, yet the buy signal's confirmation holds firm at a strength of 70
MercadoLibre, confirmation holds despite the pullback
Our view last week
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.
This week's summary
This week MercadoLibre shares give back 2.1%, with buyer dominance clearly retreating and sellers extremely dominant in the last bar. Yet the fresh buy signal that fired two weeks ago holds: the confirmation closes positive, signal strength climbs to 70 out of 100, and the stock ranks 25th among the 112 US Longs already open. A technical picture worth watching closely, with earnings due in early August.
IQS Phase
66
in tension
Signal Strength
70
high · wide & volatile
Sizing
FULL
Ranking
#25 / 112
US stocks in progress
Trade P&L %
+2.87%
from signal to today
restricted Platinum content