MercadoLibre technical analysis
MercadoLibre slips 0.7%: the buy signal holds into week 3
MercadoLibre technical analysis
Our view last week
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.
This week's summary
MercadoLibre slips 0.7% this past week, with sellers slightly prevalent in the last bar and volumes contracting. The weekly picture stays bullish, even as the trend loses some conviction: ADX is easing, though MACD keeps improving. The stock still sits well below its all-time high, with wide running room per our structural distance reading. The buy signal that fired 3 weeks ago holds, and the trade is already in profit.
IQS Phase
52
ordinary
Signal Strength
70
high · wide & volatile
Sizing
FULL
Ranking
#24 / 124
US stocks in progress
Trade P&L %
+2.16%
from signal to today
Rank position
ranks 24th among the 124 Longs already running for US stocks in our ranking, with a signal strength of 70 out of 100.
Sector context
SectorConsumer Discretionary
Benchmark ETFXLY
Sector regimeweak phase
Performanceweekly -5.22% · monthly -4.92%
MELI belongs to the consumer discretionary sector (reference ETF XLY). The sector is classified weak phase according to our weekly reading.
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