RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of MELI
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MercadoLibre stock downgraded to Sell Candidate
(Updated on Mar 27, 2024)

Sell candidate since Mar 27, 2024 PDF

The MercadoLibre stock price fell by -0.96% on the last day (Wednesday, 27th Mar 2024) from $1,537.46 to $1,522.65. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.28% from a day low at $1,503.46 to a day high of $1,552.80. The price has risen in 6 of the last 10 days but is still down by -1.8% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -41 thousand shares and in total, 285 thousand shares were bought and sold for approximately $434.54 million.

The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1,485.18 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -5.80% during the next 3 months and, with a 90% probability hold a price between $1,399.06 and $1,672.07 at the end of this 3-month period.

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MELI Signals & Forecast

There are mixed signals in the stock today. The MercadoLibre stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1,540.88 and $1,614.30. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 1.54%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for MercadoLibre stock

MercadoLibre finds support from accumulated volume at $1,519.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $49.34 between high and low, or 3.28%. For the last week the stock has had daily average volatility of 2.59%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MELI) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect MercadoLibre Inc. to open at $1,526.30, and during the day (based on 14 day Average True Range), to move between $1,477.01 and $1,568.29, which gives a possible trading interval of +/-$45.64 (+/-3.00%) up or down from last closing price. If MercadoLibre Inc. takes out the full calculated possible swing range there will be an estimated 5.99% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1,525.59 (0.19%) than the support at $1,519.38 (0.21%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is MercadoLibre Inc. stock A Buy?

MercadoLibre holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.544 Sell Candidate Downgraded

Predicted Opening Price for MercadoLibre Inc. of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$1,526.30 ( 0.240%) $1,522.65

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MELI

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 1,575.64 3.48 %
R2 1,556.80 2.24 %
R1 1,545.15 1.48 %
Current price: 1,522.65
Support S1 1,507.46 -1.00 %
S2 1,495.81 -1.76 %
S3 1,476.96 -3.00 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 1,710.39 12.33 %
R2 1,629.32 7.01 %
R1 1,525.59 0.193 %
Current price 1,522.65
Support S1 1,519.38 -0.215%
S2 1,512.50 -0.667%
S3 1,499.51 -1.52%

MELI Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Nov 02, 2017 Dec 28, 2017 Jan 16, 2018 $0.150 0.0441%
2 Aug 05, 2017 Sep 28, 2017 Oct 16, 2017 $0.150 0.0644%
3 Mar 17, 2017 Jun 28, 2017 Jul 17, 2017 $0.150 0.0543%
4 Mar 17, 2017 Mar 29, 2017 Apr 17, 2017 $0.150 0.0680%
5 Nov 03, 2016 Dec 28, 2016 Jan 16, 2017 $0.150 0.0850%

FAQ

What is the symbol for MercadoLibre Stock and on which exchange is it traded?
The symbol for MercadoLibre is MELI and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell MercadoLibre Stock?
MercadoLibre holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

How to buy MercadoLibre Stock?
MercadoLibre Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy MercadoLibre Stock.

What's the current price of MercadoLibre Stock?
As of the end of day on the 2024-03-27, the price of an MercadoLibre (MELI) share was $1,522.65.

What is the 52-week high and low for MercadoLibre Stock?
The 52-week high for MercadoLibre Stock is $1,825.00 and the 52-week low is $1,063.02.

What is the market capitalization of MercadoLibre Stock?
As of the 2024-03-27, the market capitalization of MercadoLibre is 77.945B.

When is the next earnings date for MercadoLibre?
The upcoming earnings date for MercadoLibre is May 01, 2024.
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About MercadoLibre Inc.

MercadoLibre MercadoLibre, Inc. operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and rec... MELI Profile

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