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Slingshot Bullish appears for MELI after 6.57% move
MELI closed down 6.57% on Tuesday, September 30th, with volume running 2.5× above average. The unusually high volume suggests institutional participation in today's move. Mixed technical signals appeared with Slingshot Bullish suggesting upside potential, while Fell Below 20 DMA and Fell Below 50 DMA and MACD Bearish Signal Line Cross and Directional Movement Crossover Bearish and Expansion Pivot Sell Setup indicated possible weakness — creating a conflicted technical picture. Key support levels exist at 2273.71, 2210.49 & 2106.79, with resistance at 2440.63, 2544.33 & 2607.55.
Current SwingTradeBot Technical Rating of MELI: D
More technical signals and insights for MELI → Visit SwingTradeBot.com
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