MarthaStokesCMT-TechniTrader

MELI: Trading Range Technical Pattern Reveals Large Lots

NASDAQ:MELI   MercadoLibre, Inc.
The outline in red shows the trading range pattern for MELI stock on the daily time frame. The highs of this range are remarkably level for a trading range. The extreme low rebound is lower than prior range lows. The compression of price before the gap up is a particularly important pattern to watch for in a trading range market condition, to anticipate a breakout. Use volume oscillators along with candlestick patterns to identify the underlying hidden large lot activity.


Martha Stokes, CMT
www.TechniTrader.Courses

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