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MELI: Trading Range Technical Pattern Reveals Large Lots

MercadoLibre, Inc. (NASDAQ:MELI)  
MarthaStokesCMT-TechniTrader  
NASDAQ:MELI   MercadoLibre, Inc.
Technical Indicators Trend Analysis Chart Patterns MELI tradingrange breakout Technical Analysis Stocks volumeoscillator institutional_trading
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indicator trendanalysis chartpattern meli tradingrange breakout technicalanalysis stocks volumeoscillator institutional_trading
The outline in red shows the trading range pattern for MELI stock on the daily time frame. The highs of this range are remarkably level for a trading range. The extreme low rebound is lower than prior range lows. The compression of price before the gap up is a particularly important pattern to watch for in a trading range market condition, to anticipate a breakout. Use volume oscillators along with candlestick patterns to identify the underlying hidden large lot activity.

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Martha Stokes, CMT
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