The Long Investor
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$MELI - RC -
🕑 Added 2025-01-22 11:58:40 +0000 UTCNo changes to the chart here, as we have Wave 5 completing in August and has spent the last 5 months pulling back but the bulls will like that the price action is still in the green channel and above the 50 Day MA too, so if the top blue lines can be converted to support then the price action could stay in the channel and continue moving higher and make a new ATH.
But for me, the ABC correction is still the dominant set up next and I believe there are better and lower risk positions right now in the market.
Comments
Dipen Patel
I'm with Crewz. This would be a good add post correction! We wait with cash in hand! 😂
Crewz
Thanks to the person who requested this chart. $MELI is such a great company
ok
Ideally off the 0.618 but anywhere between those orange fibs should be okay imo
A.S.
What price would you add Meli? Under $1800?
