MercadoLibre (MELI) Monthly Technical Analysis
MercadoLibre Inc
Latin America's leading e-commerce and digital payments company.
MELI Technical Analysis Summary
MercadoLibre is undergoing a corrective phase within a larger multi-year secular bull market, having pulled back sharply from record highs near 2,700 to trade below its 50-month SMA at 1,624.53. While short-term technicals indicate elevated selling pressure toward the lower Bollinger Band around 1,426.75, long-term moving average alignment remains positive well above the 200-month SMA. A sustained defense of the 1,400–1,450 zone will be critical to stabilizing the multi-year uptrend and preventing a deeper structural retracement.
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MELI Monthly Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Price has fallen decisively below both the 20-month SMA (2,052.15) and the 50-month SMA (1,709.55), with RSI weakening toward 42.79.
Long-term Sentiment (weeks to months): Bullish
The secular trend structure remains intact with the 50-month SMA running well above the upward-sloping 200-month SMA (726.45), maintaining higher major cycle lows above the 2022 trough.
Report Metadata
- Timeframe: monthly
- Generated at: Nov 1, 2026
- Model: gemini-3.8-flash
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $1,425.00 | $1,400.00 - $1,450.00 | Moderate | Aligns with the lower Bollinger Band (1,426.75) and previous horizontal consolidation prior to the 2024 expansion. |
| $700.00 | $600.00 - $800.00 | Strong | Secular swing trough established during the 2022 bear market low, reinforced by the rising 200-month SMA around 726.45. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $1,880.00 | $1,710.00 - $2,050.00 | Strong | Overhead moving average cluster composed of the 50-month SMA (1,709.55) and the 20-month SMA baseline (2,052.15). |
| $2,650.00 | $2,600.00 - $2,700.00 | Strong | Historical all-time high resistance zone and upper Bollinger Band boundary. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Moderate | Secular Bull Market Correction | Neutral | $1,425.00 | A sharp multi-month corrective decline following a strong expansion to all-time highs above 2,600, currently testing mid-cycle structural support levels. |
Frequently Asked Questions about MELI
What is the current sentiment for MELI?
The short-term sentiment for MELI is currently Bearish because Price has fallen decisively below both the 20-month SMA (2,052.15) and the 50-month SMA (1,709.55), with RSI weakening toward 42.79. 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 $1,425.00 and $700.00. 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.
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