MercadoLibre Enters Oversold Territory (MELI)

AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA Markets MELI MercadoLibre Enters Oversold Territory (MELI) May 09, 2022 — 01:11 pm EDT Written by BNK Invest for BNK Invest-> Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In trading on Monday, shares of MercadoLibre Inc (Symbol: MELI) entered into oversold territory, hitting an RSI reading of 28.8, after changing hands as low as $794.253 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 34.7. A bullish investor could look at MELI's 28.8 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of MELI shares: Looking at the chart above, MELI's low point in its 52 week range is $794.253 per share, with $1970.13 as the 52 week high point — that compares with a last trade of $808.93. Find out what 9 other oversold stocks you need to know about » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Tags MarketsStocks BNK Invest BNK Invest Inc. provides investment services and information. BNK Invest owns and operates a market news family of websites including DividendChannel, ETFChannel, StockOptionsChannel, and others, which make up an investor community featuring stock message boards, ratings, research, and strategies. BNK Invest caters to investing firms and individual investors internationally. Cash Dividend-> Funds Holding HESM-> Institutional Holders of JPEU-> More articles by this source-> Stocks mentioned MELI More Related Articles This data feed is not available at this time. Data is currently not available • Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.