MELI Weekly Technical Analysis
MercadoLibre Inc
Latin America's leading e-commerce and digital payments company.
MELI Technical Analysis Summary
MELI is experiencing a significant weekly correction, having broken below the key 50-week SMA and neutral RSI levels. While the short-term momentum is strongly bearish with price testing the lower Bollinger Band, the long-term trend remains technically bullish as long as price holds above the rising 200-week SMA near 1,590. Investors should watch for stabilization near the 1,700-1,800 zone before considering the correction complete.
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MELI Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Price has broken sharply below the 50-week SMA and Bollinger Band basis with a large red candle (-8.27%), and RSI has dropped below 50 indicating growing negative momentum.
Long-term Sentiment (weeks to months): Bullish
Despite the sharp correction, the stock remains well above the rising 200-week SMA, suggesting the primary long-term uptrend structure is still intact.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-02-07T17:21:01.106Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $1,855.00 | $1,850.00 - $1,860.00 | Weak | Confluence of the lower Bollinger Band (1857) and minor structural support. |
| $1,725.00 | $1,700.00 - $1,750.00 | Strong | Prior consolidation zone from late 2023 acting as structural support. |
| $1,595.00 | $1,590.00 - $1,600.00 | Strong | The 200-week SMA provides major long-term trend support. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $2,117.50 | $2,100.00 - $2,135.00 | Strong | The 20-week SMA (Bollinger basis) and previous support turned resistance. |
| $2,240.00 | $2,230.00 - $2,250.00 | Strong | The 50-week SMA is now a key overhead resistance level. |
| $2,550.00 | $2,500.00 - $2,600.00 | Strong | Recent major swing highs. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Correction / Pullback | Bearish | $1,857.00 | Price is undergoing a deep correction from recent highs, breaking intermediate moving averages. |
Frequently Asked Questions about MELI
What is the current sentiment for MELI?
The short-term sentiment for MELI is currently Bearish because Price has broken sharply below the 50-week SMA and Bollinger Band basis with a large red candle (-8.27%), and RSI has dropped below 50 indicating growing negative momentum.. 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 $1,855.00 and $1,725.00. 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 47/100. 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.