Trade Ideas For The Week: Buy the $MELI dip?
Monday has finally come upon us. For those of us in trading as a business or as a hobby, the weekends present a lull where we have to pull away from our habitual checking of charts and newswires to, as the kids say, "touch grass". For Turbo Option Trading, even while most people are enjoying weekend trips or BBQ, we are always hunting the next play. This weekend we have spotted a potential smoker that we wanted to share for free to our supporters and viewers outside of our community.
MercadoLibre or $MELI has long been a favorite on our watchlist. Fundamentally, MELI is a Latin American giant in e-commerce and digital financial services. It operates online commerce platforms across several countries, including Brazil, Argentina, Mexico, and others. The company’s strong presence in these markets positions it well to benefit from the region’s growing e-commerce sector.As of the latest data, MELI has a market capitalization of approximately $81 billion and it’s price-to-earnings ratio stands at 71.95.
Currently MELI has been in a downtrend that may have a strong possiblity of reversal. We go over the indicators to determine if now is the time to strike on bets for a reversal.
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