$MELI Luego del tremendo balance que metió aproveché la toma de ganancias y entré al papel cuando frenó la baja. Toda agachada en este tipo de empresas la veo como una excelente oportunidad de compra.
MELI trade ideas
MELI - $1500 PRICE TARGET - LOOKING FOR $1075 TO $1175 PULLBACK0. Looking to add to our position on any pullbacks on this stock;
1. Currently running the top of the Channel at $1200+, and may consolidate here;
2. Looking for any pullback to the $1075 (Bottom) or $1175 (Middle) of the Channel for additional shares;
Can $MELI get over $1000 this week? $MELI is building a base around $980 and looks like it wants to move higher. Markets look like they will support. If so, not looking back
MELI IdeaMultiple rising wedges
Led to only a small pullback within the bullrun although
Price target is previous trendline of rising wedge
Lets see if it extends to to this point or further.
MELI and SE CorrelationMercadoLibre ( NASDAQ:MELI ) and Sea Limited ( NYSE:SE ) are two highly correlated stocks in the same sector (Internet entertainment/e-commerce).
Since SE had a 50% increase in the second half of 2018 (marking the beginning of the market-cap similarities), their correlation began, and SE's large moves (or lack thereof) are highly likely to be precursors to moves from MELI, making it a rare case of a leading indicator unlike most (i.e. RSI and MACD which are lagging indicators).
As these moves take time (usually about 3-6 weeks), these plays are for multi-week/month traders who seek consistent returns. I've annotated the correlation plays within the last two years which should serve as a framework for anyone seeking to take advantage of these opportunities in the future.
TL;DR: SE and MELI are highly correlated, and, as annotated in the analysis, SE is a leading indicator for MELI generally speaking. The areas of big moves by SE are usually precursors for big moves by MELI, and areas of consolidation by SE are usually indicators that MELI's big moves will reverse. Ideal time frame: 2-6 weeks per trade.
As always, do your own due-diligence, never risk too much per trade, have your own plans and targets, and be responsible.
Chart image without volume:
$MELI Hitting Resistance - Candle of Death$MELI Hitting Resistance - Candle of Death
Looking over-extended with the gravestone doji on 4 hr chart - finding resistance at the 1.618 fib level. High risk short play.
Short term target - $880.00
If 20d ema line is broken we could see $800 near term.
Note: Education analysis, not investment advice.
MELIMELI
Mercadolibre, Great Company, Great Fundamentals, Great Quarantine Effect.
New way of shopping, see Ali-baba, Amazon, and all e-shops will go high as never seen before.
No doubts, we are looking for a Good Long. Here we have a Good Long.
MELI is SHOP - SHOP is MELIDoes this follow SHOP and break out to ATH's? Target $722
This is accredited to an amazing trader.
MELI - Long - Bull flag forming :Target $678If the bull flag breakout happens with decent volume then the price may hit $678.
Mercadolibre Inc holds to much Risk into earnings
Indicators are already quite bearish
Valuation of the company is crazy.
Momentum stocks usually end with momentum going the wrong way.
Levels to watch for a downside move on the chart
