The earnings of MercadoLibre Stock have been increasing by an average of 73.9% per year, while the Multiline Retail industry saw its earnings rise by 15.9% annually. According to Simplywall, a website that provides financial analysis, the revenues of MercadoLibre Stock have been growing at an average rate of 44.5% per year. MercadoLibre Stock has a return on equity of 30.3% and net margins of 5.5%.
MercadoLibre Stock’s shareholder equity is $2.0B and its debt is $4.8B, which gives it a debt-to-equity ratio of 234.4%. Its assets and liabilities are $14.2B and $12.2B respectively. According to Simplywall, a website that provides financial analysis, MercadoLibre Stock’s EBIT is $1.2B, which means its interest coverage ratio is -178.1. It has $3.2B in cash and short-term investments.
The market capitalization of MELI stock is $61.305 Billion and the total revenue is $10.537 Billion. Moreover, the MELI stock’s basic EPS is $12.29 and the price-to-earnings ratio is 99.06. Moreover, the average volume is 611.234 K and the current volume is 1.116 Million, the current volume is extremely above average volume in MercadoLibre Inc ( NASDAQ: MELI) stock.
Technical Analysis of MercadoLibre Price in 1-D Time Frame
The price action shows that MercadoLibre Inc ( NASDAQ: MELI) stock price has been following the support and resistance trendlines very well. At the time of writing, the MELI Price is trading at $1221.03 and the MELI Stock has bounced back from the support trendline. The volume graph also shows that the buyers’ sentiment has increased.
In the long-term view, it seems that the MELI Stock Price is forming a bullish pattern, which is a falling broadening wedge, and it may break out soon as the MELI Price has already touched the major support level at $1072.
Therefore, if the MELI Price holds above the current level, then it could rise and break out of the pattern and reach the first and second targets at $1265.48 and $1341.52 respectively. However, if the MELI Price faces rejection from the current level and falls, then it could reach the nearest support levels at $1131.03 and $1072.64 respectively.
At the time of publishing, MercadoLibre Inc. ( NASDAQ: MELI) is trading above the 20, 50, 100, and 200 EMA’s (exponential moving average), which is supporting the MercadoLibre price trend. Hence, MercadoLibre price is expected to move upwards giving bullish signals over the daily time frame chart.
The current value of RSI is 54.02 points. The 14 SMA is below the median line at 46.69 points which indicates that the price is bullish as the RSI is in bullish territory.
The MACD line at 5.49 and signal line at 16.06 are below the zero line and a bullish crossover was observed in the MACD oscillator which signals more bullishness for the MELI share price.
Summary
MercadoLibre Inc. (NASDAQ: MELI) shows that the investors and traders of the stock are bullish on the 1-D time frame. The price action shows a bullish outlook at the time of publishing. The technical parameters of the MELI stock price also support the bullish trend. The major indicators MACD, RSI, and EMA are giving positive signals and imply that the uptrend may continue in MELI share price.
Technical Levels
- Support levels: The nearest support levels are $40.080 and $39.380.
- Resistance levels: The nearest resistance levels are $41.395 and $42.260.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets or stocks comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/07/24/mercadolibre-price-prediction-will-meli-stock-price-jump-1300/