MELI Weekly Technical Analysis
MercadoLibre Inc
Latin America's leading e-commerce and digital payments company.
MELI Technical Analysis Summary
MELI is currently undergoing a substantial multi-month correction after rejecting the 2600-2800 resistance zone. Short-term momentum is decisively bearish as the stock trades below its 20-week and 50-week moving averages, with MACD deep in negative territory. However, long-term investors should note that the broader structural uptrend remains intact as long as price finds support above the critical 200-week SMA near 1600.
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MELI Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Price is trading below both the 20-week and 50-week SMAs following a significant pullback from recent highs. MACD is below the zero line with a negative histogram, and RSI is under 50, indicating sustained downward momentum.
Long-term Sentiment (weeks to months): Bullish
Despite the recent medium-term correction, the broader multi-year trend remains up, characterized by higher highs and higher lows since the 2022 bottom. The price also remains comfortably above the rising 200-week SMA.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-02-21T18:35:44.603Z
- Model: gemini-3.1-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $1,850.00 | $1,800.00 - $1,900.00 | Strong | Current consolidation zone, aligning with the lower Bollinger Band and previous swing lows. |
| $1,600.00 | $1,550.00 - $1,650.00 | Strong | Major structural support zone converging with the rising 200-week SMA. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $2,075.00 | $2,050.00 - $2,100.00 | Weak | Immediate resistance near the declining 20-week SMA. |
| $2,250.00 | $2,200.00 - $2,300.00 | Strong | Significant overhead resistance at the 50-week SMA and a previous support zone that has now flipped. |
| $2,700.00 | $2,600.00 - $2,800.00 | Strong | Major multi-top distribution zone and all-time high area. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Multi-Top / Distribution | Bearish | N/A | Price formed a complex series of peaks between 2600 and 2800 before breaking down below its 50-week SMA, confirming a structural top and initiating the current pullback. |
Frequently Asked Questions about MELI
What is the current sentiment for MELI?
The short-term sentiment for MELI is currently Bearish because Price is trading below both the 20-week and 50-week SMAs following a significant pullback from recent highs. MACD is below the zero line with a negative histogram, and RSI is under 50, indicating sustained downward 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 $1,850.00 and $1,600.00. 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 42/100. 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.