MELI Trade Propels Robot Factory to 4.95% Gain
Swing Trader's AI trading robot has been making waves in the stock market lately, particularly in the realm of medium volatility stocks. In fact, the robot was a top performer in Tickeron's robot factory over a week, generating a notable 4.95% for MELI. This impressive performance is due in large part to the use of technical and fundamental analysis by the robot.
One of the key technical indicators that the AI trading robot utilizes is the Aroon Indicator, which recently triggered a bullish signal for MELI. Specifically, on April 27, 2023, Tickeron's A.I.dvisor detected that the AroonUp green line was above 70, while the AroonDown red line was below 30. This pattern typically signals that a stock could be poised for a bullish move.
Traders who followed the A.I.dvisor's recommendation may have bought the stock or looked to buy call options. To support this strategy, A.I.dvisor examined 293 similar instances where the Aroon Indicator showed a similar pattern. The results were impressive, with the stock moving higher in 257 of the 293 cases. This puts the odds of a move higher at a promising 88%.
The most recent earnings report for MELI, released on May 03, showed strong results, with earnings per share of $3.97 beating the estimate of $2.81. This is a positive development for the company and its shareholders. With 274.29K shares outstanding, the current market capitalization sits at $65.10B.
Swing Trader's AI trading robot has been a top performer in Tickeron's robot factory, generating impressive returns for medium volatility stocks such as MELI. By utilizing technical and fundamental analysis, the robot has been able to identify promising trading opportunities, such as the recent bullish signal triggered by MELI's Aroon Indicator. With strong earnings results beating estimates, it appears that the company is on a positive trajectory.
MELI in upward trend: 10-day moving average moved above 50-day moving average on October 16, 2024
The 10-day moving average for MELI crossed bullishly above the 50-day moving average on October 16, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 14 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 16, 2024. You may want to consider a long position or call options on MELI as a result. In of 90 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
MELI moved above its 50-day moving average on October 08, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MELI advanced for three days, in of 366 cases, the price rose further within the following month. The odds of a continued upward trend are .
MELI may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 283 cases where MELI Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for MELI moved out of overbought territory on September 13, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 37 similar instances where the indicator moved out of overbought territory. In of the 37 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 61 cases where MELI's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for MELI turned negative on September 17, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 47 similar instances when the indicator turned negative. In of the 47 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MELI declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 90, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. MELI’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: MELI's P/B Ratio (28.490) is very high in comparison to the industry average of (4.292). P/E Ratio (74.346) is within average values for comparable stocks, (71.163). Projected Growth (PEG Ratio) (1.422) is also within normal values, averaging (1.293). Dividend Yield (0.000) settles around the average of (0.024) among similar stocks. P/S Ratio (6.086) is also within normal values, averaging (5.944).
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General Information
a providesr of internet trading services
Industry InternetRetail