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Is MELI showing downside potential? Fell Below 200 Day Moving Average shows up after tumbling 6.85%
MELI closed down 6.85% on Wednesday, October 1st, with volume running 3.1× above average. The unusually high volume suggests institutional participation in today's move. Multiple bearish signals emerged — Fell Below 200 DMA, Wide Range Bar, Expansion Breakdown, MACD Bearish Centerline Cross & Expansion Pivot Sell Setup — suggesting potential weakness ahead. Key support levels exist at 2118.12, 2059.33 & 1945.89, with resistance at 2290.35, 2403.79 & 2462.58.
Current SwingTradeBot Technical Rating of MELI: D
See all signals and full analysis for MELI on SwingTradeBot.com →
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