MercadoLibre, Inc. (NASDAQ:MELI)
Q:Hi Brian
Ref.MELI the best price was 81 and before 51 , Ithink with a bullish market minimum MELI goes to the first. Bullish step 51 if the market accompany What is your opinion?Bigcharlie
A: We issued an Uptrend for MELI on June 11th at $25. Stock has moved up nicely since and has busted through the old resistance level of $30. Our indicators are near overbought range but not quit there. So there may be a little more upside room before we get some pullback as the indicators unwind. I would like to see it trade sideways above $30 for a while and then it can try and retake the next resistance level of $38. But all trend lines remain bullish.
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