The price action pattern in MELI since 2022 shows that whenever the stock has touched its green trendline and pushed to cross above the EMA line, the price action has typically led to approximately a 40% increase. In some instances, there was first a 20% increase followed by a correction, before continuing upward to reach the full 40% move.
Based on this historical pattern, if MELI follows the same behavior with its recent EMA breakout, the price could potentially:
1.Touch its ATH around $2,160
2.Push further to around $2,400
Based on this historical pattern, if MELI follows the same behavior with its recent EMA breakout, the price could potentially:
1.Touch its ATH around $2,160
2.Push further to around $2,400
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