This Is What Whales Are Betting On MercadoLibre
Portfolio Pulse from Benzinga Insights
A whale investor has taken a bearish stance on MercadoLibre (NASDAQ:MELI), with 63% of the spotted trades being bearish. The whales have been targeting a price range from $1050.0 to $1370.0 for MercadoLibre over the last 3 months. The price of MELI is up 1.07% at $1191.85, and RSI indicators suggest it may be approaching overbought. B of A Securities has downgraded its action to Neutral with a price target of $1350.
July 18, 2023 | 5:46 pm
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A whale investor has taken a bearish stance on MercadoLibre, with majority of the trades being bearish. The stock price is up and may be approaching overbought. B of A Securities has downgraded its action to Neutral.
The bearish stance taken by a whale investor, along with the stock price being up and potentially approaching overbought, could lead to a short-term decrease in the stock price. Additionally, the downgrade by B of A Securities could also negatively impact the stock price.
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IMPORTANCE 80
RELEVANCE 100