Behind the Scenes of MercadoLibre's Latest Options Trends
Portfolio Pulse from Benzinga Insights
Financial giants have shown a bearish trend in MercadoLibre (NASDAQ:MELI) options trading, with 37% of traders bearish and 31% bullish. The trading volumes and open interest suggest a price band between $900.0 and $2120.0. Analysts have given mixed ratings, with an average target price of $2050.0.
June 04, 2024 | 3:01 pm
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NEGATIVE IMPACT
MercadoLibre has seen a bearish trend in options trading, with 37% of traders bearish and 31% bullish. The stock is currently neutral with a price of $1693.14. Analysts have mixed ratings with an average target price of $2050.0.
The bearish trend in options trading indicates a negative sentiment among traders. The mixed analyst ratings and the current neutral RSI suggest potential volatility. The average target price of $2050.0 provides some upside potential, but the short-term outlook appears bearish.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100