Chart Alerts

JC Parets’ All Star Updates

Actionable insights from the world’s most data-driven market analyst.

Trade of the Week: Mercado Libre Inc. (MELI)

Hey everyone, We’re changing it up a little — this week’s COTW is a SHORT Specifically, shorting Mercado Libre Inc. (MELI) We’ve been wanting to sell emerging markets for a few weeks now. Shouldn’t be a surprise after a failed breakout as a group. We’re seeing additional weakness in Latin America, and MELI gives us the perfect vehicle to express our bearish thesis. And of course, risk/reward in our favor. Plus, if you see that failed breakout on the chart, you can see how much room we have to fall (and quickly). As I learned long ago, failed moves lead to fast moves, which means MELI is perfect this week. So we’re looking at shorting the stock below $677, with a…

Want to get JC's Chart Alerts straight to your inbox?

Subscribe to receive updates for free!

View all