Mercadolibre, Inc. Stock Forecast
Stronger technical forecast for Mercadolibre, Inc. stock price after Wednesday trading.
(Updated on Jun 26, 2024)
The Mercadolibre, Inc. stock price gained 2.16% on the last trading day (Wednesday, 26th Jun 2024), rising from $1,641.98 to $1,677.50. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.29% from a day low at $1,630.00 to a day high of $1,683.57. The price has risen in 6 of the last 10 days and is up by 6.12% over the past 2 weeks. Volume fell on the last day by -72 shares and in total, 213 shares were bought and sold for approximately $357.31 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.27% during the next 3 months and, with a 90% probability hold a price between $1,743.85 and $2,142.28 at the end of this 3-month period.
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0K0E.L Signals & Forecast
The Mercadolibre, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1,602.38 and $1,660.82. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -5.70%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Mercadolibre, Inc. stock
Mercadolibre, Inc. finds support from accumulated volume at $1,663.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $53.57 between high and low, or 3.29%. For the last week the stock has had daily average volatility of 2.53%.
Our recommended stop-loss: $1,591.28 (-5.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 45 days ago.)
Trading Expectations (0K0E.L) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Mercadolibre, Inc. to open at $1,663.69, and during the day (based on 14 day Average True Range), to move between $1,638.57 and $1,716.43, which gives a possible trading interval of +/-$38.93 (+/-2.32%) up or down from last closing price. If Mercadolibre, Inc. takes out the full calculated possible swing range there will be an estimated 4.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1,663.63 (0.83%) than the resistance at $1,692.88 (0.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mercadolibre, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mercadolibre, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.095 Buy Candidate Upgraded
Predicted Opening Price for Mercadolibre, Inc. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $1,663.69 ( 0.82%) | $1,677.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0K0E.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,717.26 | 2.37% |
| R2 | 1,696.79 | 1.15% |
| R1 | 1,684.15 | 0.397% |
| Price | 1,677.50 | |
| S1 | 1,643.23 | -2.04% |
| S2 | 1,630.58 | -2.80% |
| S3 | 1,610.12 | -4.02% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,717.99 | 2.41% |
| R2 | 1,697.38 | 1.19% |
| R1 | 1,692.88 | 0.92% |
| Price | 1,677.50 | |
| S1 | 1,663.63 | -0.83% |
| S2 | 1,488.30 | -11.28% |
| S3 | 1,487.00 | -11.36% |
0K0E Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2022 | Mar 15, 2022 | Mar 15, 2022 | $0.285 | 0.0304% |
| 2 | Dec 28, 2017 | Dec 28, 2017 | Jan 16, 2018 | $0.150 | 0% |
| 3 | Sep 28, 2017 | Sep 28, 2017 | Oct 16, 2017 | $0.150 | 0% |
| 4 | Jun 28, 2017 | Jun 28, 2017 | Jul 17, 2017 | $0.150 | 0% |
| 5 | Mar 29, 2017 | Mar 29, 2017 | Apr 17, 2017 | $0.150 | 0% |
FAQ
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