MercadoLibre stock: +4.2% in week 7 of a buy signal
MercadoLibre stock climbs 4.2%, hitting its second model target
Our view last week
MercadoLibre stock closes the week up 1.3%, but the weekly picture calls for caution: the price stays compressed below the 50-week average, with ADX falling and MACD deteriorating. On the daily chart the picture holds on flows, though sellers control most of the volume. MercadoLibre stock is in the 6th week of a buy signal, up 4.61% from entry: the model's first management window is now open.
This week's summary
MercadoLibre stock gains 4.2% this week and pushes to two of three targets hit by our model. Money flow has turned back to buying and the weekly MACD is improving again, even as the trend loses some conviction: the buy signal is in its 7th week, with the first management window already open. Weekly technical analysis: the picture stays constructive, with wide room before historical resistance.
IQS Phase
74
in tension
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#44 / 167
US stocks in progress
Trade P&L %
+9.04%
from signal to date, no stop loss
Rank position
ranks 44th among the 167 Longs already running for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorConsumer Discretionary
Benchmark ETFXLY
Sector regimein strong phase
Performanceweekly -0.15% · monthly +3.51%
MELI belongs to the consumer discretionary sector (reference ETF XLY). The sector is classified in strong phase according to our weekly reading.
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