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MercadoLibre Crosses Above its 10-day MA (MELI)

By David Diaz

MercadoLibre (NASDAQ:MELI) crossed over its 10-day moving average of $167.04 on a volume of 112K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of MercadoLibre have traded between a low of $48.30 and a high of $174.27 and are now at $168.87, which is 250% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has slid 0.2%.

SmarTrend recommended that subscribers consider buying shares of MercadoLibre on July 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $142.06. Since that recommendation, shares of MercadoLibre have risen 17.5%. We continue to monitor MELI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses MercadoLibre

Ticker(s): MELI