MELI Weekly Technical Analysis
MercadoLibre Inc
Latin America's leading e-commerce and digital payments company.
MELI Technical Analysis Summary
MercadoLibre is undergoing a corrective phase after suffering a sharp rejection at the 2,020–2,060 resistance zone and the upper Bollinger Band. The weekly candle has fallen below the descending 50-week SMA and is testing the critical support cluster around the 20-week and 200-week SMAs near 1,738–1,768. A failure to hold this moving-average support would likely open the door for a retest of the major 1,500–1,550 base, whereas a defense of the 200-week SMA keeps the broader multi-year consolidation intact.
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MELI Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Price faced a sharp rejection from the 2,050 resistance area near the upper Bollinger Band, forming a strong bearish weekly candle that fell back below the 50-week SMA with RSI turning downward below 50.
Long-term Sentiment (weeks to months): Neutral
Although the long-term 200-week SMA (1,738.17) continues to trend upward and provides baseline support, the breakdown from the 2,600+ peak has transitioned the multi-year structure into a broad corrective range.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-09-18T21:05:05.914Z
- Model: gemini-3.8-flash
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $1,750.00 | $1,730.00 - $1,770.00 | Strong | Confluence of the 20-week SMA (1,768.67) and the ascending 200-week SMA (1,738.17). |
| $1,525.00 | $1,500.00 - $1,550.00 | Strong | Major swing low established in early 2026 and lower Bollinger Band alignment. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $1,900.00 | $1,880.00 - $1,920.00 | Moderate | Resistance at the descending 50-week SMA (1,884.72) and the open of the current weekly drop. |
| $2,040.00 | $2,020.00 - $2,060.00 | Strong | Recent multi-week swing high and upper Bollinger Band rejection zone. |
| $2,225.00 | $2,200.00 - $2,250.00 | Moderate | Prior horizontal shelf and breakdown level from late 2025. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Moderate | Lower High Formation | Bearish | $1,550.00 | After a recovery bounce from the 1,515 low, price stalled and was rejected near 2,050, printing a clear lower high relative to the 2,150+ swing highs of late 2025. |
Frequently Asked Questions about MELI
What is the current sentiment for MELI?
The short-term sentiment for MELI is currently Bearish because Price faced a sharp rejection from the 2,050 resistance area near the upper Bollinger Band, forming a strong bearish weekly candle that fell back below the 50-week SMA with RSI turning downward below 50.. The long-term trend is classified as Neutral.
What are the key support levels for MELI?
StockDips.AI has identified key support levels for MELI at $1,750.00 and $1,525.00. 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 60/100. 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.