MercadoLibre (MELI) Daily Technical Analysis
MercadoLibre Inc
Latin America's leading e-commerce and digital payments company.
MELI Technical Analysis Summary
MercadoLibre is undergoing a short-term oversold bounce after finding strong buying interest near the 1,600 support level. However, the broader structural trend remains firmly bearish, evidenced by a downward-sloping 50-day SMA crossing below the 200-day SMA. A heavy cluster of resistance sits between 1,780 and 1,825, which must be reclaimed to prevent another leg lower toward 1,500.
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MELI Daily Chart
Sentiment
Short-term Sentiment (days to weeks): Bullish
Price rebounded sharply off the lower Bollinger Band around 1,600 with expanding bullish candles, and RSI has turned upward from near oversold territory to 47.78.
Long-term Sentiment (weeks to months): Bearish
The 50-day SMA has crossed below the 200-day SMA in a death cross, with both long-term moving averages sloping downward and price trading below all major SMAs.
Report Metadata
- Timeframe: daily
- Generated at: Nov 4, 2026
- Model: gemini-3.8-flash
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $1,610.00 | $1,590.00 - $1,630.00 | Strong | Recent swing low area aligning with the lower Bollinger Band and November gap rebound zone. |
| $1,520.00 | $1,500.00 - $1,540.00 | Moderate | Structural horizontal base formed during May and June lows. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $1,802.50 | $1,780.00 - $1,825.00 | Strong | Confluence of the 20-day SMA (1,782.30), 200-day SMA (1,807.71), and 50-day SMA (1,824.97). |
| $1,975.00 | $1,950.00 - $2,000.00 | Moderate | Upper Bollinger Band zone and previous consolidation shelf from October. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Moderate | Bear Flag / Counter-Trend Bounce | Bearish | $1,520.00 | Sharp drop followed by a corrective upward bounce approaching heavy moving average resistance overhead. |
Frequently Asked Questions about MELI
What is the current sentiment for MELI?
The short-term sentiment for MELI is currently Bullish because Price rebounded sharply off the lower Bollinger Band around 1,600 with expanding bullish candles, and RSI has turned upward from near oversold territory to 47.78. 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 $1,610.00 and $1,520.00. 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 33/100. 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.