Check Out What Whales Are Doing With MELI
Portfolio Pulse from Benzinga Insights
Wealthy investors have taken a bearish stance on MercadoLibre (NASDAQ:MELI), as indicated by 47 uncommon options trades detected by Benzinga's options scanner. The sentiment is split with 29% bullish and 38% bearish. The major market movers are focusing on a price band between $480.0 and $2140.0 for MercadoLibre. The stock is currently trading at $1835.63, up by 3.36%, with RSI indicators suggesting it may be approaching overbought territory. Analysts have given it an average target price of $2175.0.
August 06, 2024 | 7:16 pm
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Wealthy investors have taken a bearish stance on MercadoLibre (NASDAQ:MELI), as indicated by 47 uncommon options trades detected by Benzinga's options scanner. The sentiment is split with 29% bullish and 38% bearish. The stock is currently trading at $1835.63, up by 3.36%, with RSI indicators suggesting it may be approaching overbought territory.
The detection of 47 uncommon options trades with a bearish sentiment from wealthy investors suggests a potential short-term decline in MercadoLibre's stock price. The RSI indicators also suggest the stock may be approaching overbought territory, which could lead to a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100