Million

Resistance

MELI

<ul class="list-ic vertical"> 
 <li> 1 <a>MELI’s stock price surged 11.19% monthly and 55.19% yearly. </a> </li> 
 <li> 2 <a>MELI stock’s highest trading price in 52 weeks was $1365.64, and its lowest traded price was $754.76.</a> </li> 
 <li> 3 <a>In Q1 &amp; Q2 2023, MercadoLibre Inc. reported 5.23% and 4.43% more revenue than estimated figures.</a> </li> 
</ul> 
MercadoLibre Inc. (NASDAQ: MELI) stock added $158.30 on the August 3 trading session; it opened trading at $1225. Lowering to $1212.69, it hit a high of $1326.61 and closed at $1323.11 with an intraday trading volume 1.595 Million.&nbsp; 
In the weekly time frame, MELI stock added 10.19%, and in a month, it surged 11.19%.MELI shares’ annual price target is $1574, which is around 18.97% higher than the current trading price. 
MELI stock’s highest trading price in 52 weeks was $1365.64, and its lowest traded price was $754.76. The company has a market capitalization of $66.43 Billion, and the average trading volume is 6777.983k.&nbsp; 
In the last trading session, sellers tried their best to pull prices downward, but buyers succeeded in obstructing their path, which resulted in a sudden surge in prices. Excluding the last trading session, sellers were playing on the front foot, dominating buyers.&nbsp; 
According to TradingView, 44.636 Million MELI shares are free-floating, and the remaining 5.572 Million shares are closely held by the company’s financial backers or the board of directors. In the pre-market trading session, MELI stock opened $3.68 less than its last closing price. 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
 <img decoding="async" src="https://lh6.googleusercontent.com/Rlj_UYnorKdzLh5bY-xtX-BEuJHKa2DA-ZVWZ3fV9k8fGfNJDLFnHBw4NYo9uR-wpUha8Rosmlp7uSOpd8eRUgg-bD53cQ20RW0OpNC4Oor75ogHrUUBP1dtmwONyOU7mx8DT-y5gyV93qGMzak83NQ" alt="MELI Stock Added Around $158.30 Intraday; Might Surge Further"> 
 <figcaption class="wp-element-caption">
 Source: MELI stock price from TradingView&nbsp; 
 </figcaption> 
 </figure> 
</div> 
<a href="https://www.thecoinrepublic.com/2023/08/03/jnj-stock-price-prediction-is-jnj-good-investment-for-2023/" rel="noopener noreferrer nofollow">MELI </a>stock price is trading above the 50-day and 200-day EMAs, which indicates that in the coming session, there might be a significant price movement in the upward direction by the end of the week. 
The MACD indicator shows a bullish crossover and persists in forming green bars on the histogram, indicating that buyers are still trying to regain their strength. If buyers continue to dominate, then the price might face immediate resistance of $1365.90. 
<h3 class="wp-block-heading" id="strong-mercadolibre-inc-earnings-revenue-strong">MercadoLibre Inc. Earnings &amp; Revenue&nbsp;</h3> 
In Q1 &amp; Q2 2023, MercadoLibre Inc. reported 5.23% and 4.43% more revenue than estimated figures, respectively. For Q1, the company’s estimated revenue was $2.89 Billion, and for Q2, the estimated revenue was $3.27 Billion.&nbsp; 
Earnings per share of the company followed a profitability path of revenue. The reported eps for Q1 &amp; Q2 2023 was 42% greater than the estimated EPS, and in Q2 reported EPS was 18.93% greater than the current trading price. 
From the reported revenue of the financial year 2022, gross profit of the company was 47%, 13% was earnings before interest, taxes, depreciation, and amortization (EBITDA), 10% of earnings before interest and taxes (EBIT), and 5% of net income.&nbsp; 
Most of the <a href="https://www.thecoinrepublic.com/2023/08/03/will-evgo-stock-evgo-revamped-from-demand-zone-near-4-00/" target="_blank" rel="noopener noreferrer nofollow">company’s </a>income is generated from commerce and fintech business. It leads its operations in Brazil, Argentina, and Mexico, including several regions of the world. 
<h4 class="wp-block-heading">Technical Levels:</h4> 
Support Levels: ~$1147.9 and ~$1097 
Resistance Levels: ~$1365.9 
<h5 class="wp-block-heading">Disclaimer&nbsp;</h5> 
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

MELI Stock Added Around $158.30 Intraday; Might Surge Further

Table of Contents

Thecoinrepublic.com

Other articles published on Aug 5, 2023

John Deaton Explores SEC’s Testimony and the Ongoing ‘Regulatory Gap

Elon Musk Says X has no Plans of Launching Token

The Crypto Shop { AIRDROP }

AI Platforms to Help Users Generate Attractive Art in Minutes

Compound Price Prediction: Is It the Time To Dump COMP?

Can XRP Realistically Hit $10-$15? The Bull and Bear Case

Join our free newsletter for daily crypto updates!