MELI Weekly Technical Analysis
MercadoLibre Inc
Latin America's leading e-commerce and digital payments company.
MELI Technical Analysis Summary
MercadoLibre has staged a decisive recovery following a test of its long-term support base near 1,520, successfully reclaiming both the 200-week and 50-week moving averages. Short-term momentum is strongly bullish with the RSI rising toward 60, though price is currently testing immediate resistance at the upper Bollinger Band near 2,020–2,070. As long as weekly closes remain above the 1,880–1,920 support confluence, the intermediate outlook favors continued expansion toward the next major overhead supply zone around 2,200.
Included In Lists
Related Tickers of Interest
MELI Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bullish
Price has executed a strong multi-week rebound off the ~1,520 low, reclaiming both the 20-week and 50-week SMAs while RSI has climbed back firmly into positive territory near 59.
Long-term Sentiment (weeks to months): Bullish
The 200-week SMA remains upward-sloping and successfully absorbed the deep correction near 1,520–1,730, keeping the broader multi-year macro uptrend structure intact with the 50-week SMA still positioned above the 200-week SMA.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-09-04T21:03:14.249Z
- Model: gemini-3.8-flash
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $1,900.00 | $1,880.00 - $1,920.00 | Strong | Confluence of the 50-week SMA (1,903.84) and the recent weekly breakout zone. |
| $1,745.00 | $1,720.00 - $1,770.00 | Strong | Convergence zone of the 20-week SMA (1,768.69) and the rising 200-week SMA (1,729.43). |
| $1,525.00 | $1,500.00 - $1,550.00 | Strong | Major cycle swing low established in early 2026 aligned with the lower Bollinger Band. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $2,045.00 | $2,020.00 - $2,070.00 | Weak | Immediate resistance marked by the upper Bollinger Band (2,020.41) and the recent weekly wick high at 2,066.00. |
| $2,230.00 | $2,200.00 - $2,260.00 | Strong | Prior breakdown level and consolidation shelf from late 2025. |
| $2,615.00 | $2,550.00 - $2,680.00 | Strong | Major multi-year double-top and all-time high resistance zone. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | V-Bottom Reversal | Bullish | $2,220.00 | Sharp, impulsive multi-week recovery originating from the 1,520 low that rapidly reclaimed key weekly moving averages. |
Frequently Asked Questions about MELI
What is the current sentiment for MELI?
The short-term sentiment for MELI is currently Bullish because Price has executed a strong multi-week rebound off the ~1,520 low, reclaiming both the 20-week and 50-week SMAs while RSI has climbed back firmly into positive territory near 59.. The long-term trend is classified as Bullish.
What are the key support levels for MELI?
StockDips.AI has identified key support levels for MELI at $1,900.00 and $1,745.00. 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 35/100. 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.