MELI Daily Technical Analysis
MercadoLibre Inc
Latin America's leading e-commerce and digital payments company.
MELI Technical Analysis Summary
The technical picture for MELI remains bearish over the long term, with price action dominated by a persistent downtrend below key moving averages. While the stock experienced a recent oversold bounce, it failed to overcome resistance at the 50-day SMA and is showing signs of resuming its primary downward trajectory. A definitive breakdown below recent intermediate support levels would likely see a retest of the major lows near 1450.
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MELI Daily Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
The recent counter-trend rally was rejected near the 50-day SMA. A strong bearish daily candle has broken below short-term consolidation, RSI is falling below 50, and the MACD histogram is showing decreasing bullish momentum.
Long-term Sentiment (weeks to months): Bearish
The primary trend remains clearly downward, characterized by a series of lower highs and lower lows over several months. The price is trading well below a steeply declining 200-day SMA.
Report Metadata
- Timeframe: daily
- Generated at: 2026-06-02T14:09:13.169Z
- Model: gemini-3.1-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $1,600.00 | $1,580.00 - $1,620.00 | Weak | Intermediate support zone based on choppy price action and minor swing lows established during the recent rally attempt. |
| $1,475.00 | $1,450.00 - $1,500.00 | Strong | Major recent swing low and visual price floor where a significant bounce originated in May. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $1,740.00 | $1,720.00 - $1,760.00 | Strong | Current rejection zone encompassing recent swing highs and the declining 50-day SMA, acting as dynamic resistance. |
| $1,860.00 | $1,840.00 - $1,880.00 | Strong | Prior area of significant consolidation and support that broke down in April; now acts as major overhead resistance. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Bear Flag | Bearish | $1,450.00 | The sharp drop from late April into May formed a 'flagpole,' followed by a choppy, upward-sloping channel (the 'flag'). The recent strong red candle suggests a breakdown from this continuation pattern. |
Frequently Asked Questions about MELI
What is the current sentiment for MELI?
The short-term sentiment for MELI is currently Bearish because The recent counter-trend rally was rejected near the 50-day SMA. A strong bearish daily candle has broken below short-term consolidation, RSI is falling below 50, and the MACD histogram is showing decreasing bullish momentum.. The long-term trend is classified as Bearish.
What are the key support levels for MELI?
StockDips.AI has identified key support levels for MELI at $1,600.00 and $1,475.00. These levels may represent potential accumulation zones where buying interest could emerge.
Is MELI in a significant dip or a Value Dip right now?
MELI has a Value Score of 46/100. It is not currently flagged as a significant dip in the Top Dips list. It is not listed as a Value Dip because the long-term sentiment or value-score threshold does not qualify.
View the full interactive analysis on StockDips.AI.