MercadoLibre Forecast and Stock Analysis
Technical MELI stock analysis for Wednesday May 22, 2019.
|Price to book||USD 12.76|
|Next Earnings Date||2019-08-06|
MercadoLibre fell by -0.60% in the last day ( Wednesday, 22nd May 2019 ) from $572.95 to $569.49 and has now fallen 5 days in a row. During day the stock fluctuated 4.61% from a day low at $563.03 to a day high of $589.00. The price has been going up and down for this period, and there has been a 6.24% gain for the last 2 weeks. Volume has increased in the last day by 328 669 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 652 722 shares bought and sold for approximately $371.72 million.
- 30 day high of the MELI stock price was $596.70 and low was $460.00.
- 90 day high was $596.70 and low was $358.07.
- 52 week high for the MercadoLibre - $596.70 and low - $257.52.
MercadoLibre 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 24.16% during the next 3 months and, with 90% probability hold a price between $632.38 and $749.91 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Thursday May 16, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. MercadoLibre holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $574.64. On a fall, the stock will find some support from the long-term average at approximately $524.01. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
Relative Strength Index (RSI)
RSI14 is 67 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $507.93 and $483.48.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, MercadoLibre finds support just below today's level at $507.93. If this is broken, then the next support from accumulated volume will be at $483.48 and $446.68.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $25.97 between high and low, or 4.61%. For the last week, the stock has had a daily average volatility of 3.20%.
Our recommended stoploss: $541.36 (-4.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 4 days ago.)
3.20 %Average volatility
Very Low Low Medium High Very High
MercadoLibre holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.
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|MELI $569.49 ($-3.46 -0.60%)|
MELI is down $3.46 today, but where's it headed in 2019?
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