This Is What Whales Are Betting On MercadoLibre
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on MercadoLibre (NASDAQ:MELI), with 65% of the observed trades being bearish. The whales have been targeting a price range from $1080.0 to $1540.0 for MercadoLibre over the last 3 months. The price of MELI is currently up 1.44% at $1217.7, and the RSI indicators suggest that the stock may be approaching overbought. The company's next earnings are expected to be released in 2 days.
October 30, 2023 | 4:45 pm
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A significant investor has taken a bearish stance on MercadoLibre, with 65% of the observed trades being bearish. The stock price is currently up 1.44% at $1217.7, and the RSI indicators suggest that the stock may be approaching overbought.
The bearish stance taken by a significant investor, along with the RSI indicators suggesting that the stock may be overbought, could potentially lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100