Auto-detected technical analysis for MELI · data as of Aug 4, 2026. The chart above is live; the read below updates daily.
MELI just broke higher out of a symmetrical triangle — a brief, tidy pause inside a strong run. That's usually a breather before another push up.
On this chart, setups like it have followed through about 78% of the time.
As long as price stays above $1566, the setup is intact — a daily close back below there is the cue to step away.
A natural first target sits near $1996 — but moves like this often run further. The simple way to follow the rest is to stay with the 10-day average, and only step aside when a day closes below it.
MELI is currently forming a triangle on the daily timeframe. Detected Aug 4, 2026.
New to this pattern? What a triangle is and how to trade it →
Historical pattern statistics (2006-08-04 – 2026-08-04), not a prediction.
Every completed pattern trade our nightly backtest found on MELI's daily chart, newest first — wins and losses alike.
| Pattern | Entry | Exit | Outcome | Result |
|---|---|---|---|---|
| Falling Wedge | Jan 2, 2026 @ $2,027.55 | Feb 23, 2026 @ $1,864.46 | Loss | -1.30R |
| Bullish Pennant | Apr 15, 2025 @ $2,104.32 | May 23, 2025 @ $2,507.83 | Win | +1.06R |
| Triangle | Nov 4, 2024 @ $2,067.37 | Nov 7, 2024 @ $1,774.05 | Loss | -2.79R |
| Triangle | May 17, 2023 @ $1,322.29 | Jun 16, 2023 @ $1,194.74 | Loss | -1.01R |
| Rising Wedge | May 4, 2023 @ $1,249.01 | May 22, 2023 @ $1,339.62 | Loss | -1.02R |
| Rising Wedge | Apr 25, 2023 @ $1,247.74 | May 22, 2023 @ $1,339.62 | Loss | -1.02R |
| Triangle | Mar 31, 2023 @ $1,273.88 | Jun 26, 2023 @ $1,155.51 | Loss | -1.08R |
| Triangle | Jan 6, 2023 @ $863.72 | Feb 6, 2023 @ $1,175.44 | Win | +6.51R |
| Falling Wedge | Oct 31, 2022 @ $886.41 | Feb 6, 2023 @ $1,175.44 | Win | +3.08R |
| Triangle | Jul 18, 2022 @ $700.20 | Aug 17, 2022 @ $997.90 | Win | +3.52R |
| Falling Wedge | Jan 31, 2022 @ $1,061.42 | Feb 18, 2022 @ $937.26 | Loss | -1.20R |
| Rising Wedge | Dec 7, 2020 @ $1,576.90 | Jan 26, 2021 @ $1,807.74 | Win | +0.65R |
Price found a floor near $1,620.41 about 6 weeks ago and has been climbing since. On the weekly chart, the next ceiling overhead sits near $2,399.07 — still about 27% away.
Nearest auto-detected support sits near $1,876.40, resistance near $3,167.57. These are chart/swing-derived levels, not formula pivots.
| Date | Open | High | Low | Close |
|---|---|---|---|---|
| Aug 4, 2026 | $1,889.66 | $1,906.38 | $1,864.56 | $1,888.50 |
| Aug 3, 2026 | $1,916.70 | $1,926.00 | $1,875.99 | $1,898.79 |
| Jul 31, 2026 | $1,874.00 | $1,889.22 | $1,851.79 | $1,877.95 |
| Jul 30, 2026 | $1,845.01 | $1,888.00 | $1,828.89 | $1,885.73 |
| Jul 29, 2026 | $1,842.76 | $1,902.38 | $1,842.76 | $1,863.31 |
| Jul 28, 2026 | $1,839.14 | $1,886.00 | $1,839.14 | $1,862.52 |
| Jul 27, 2026 | $1,825.71 | $1,855.44 | $1,818.51 | $1,819.74 |
| Jul 24, 2026 | $1,800.71 | $1,839.91 | $1,797.28 | $1,801.44 |
| Jul 23, 2026 | $1,790.80 | $1,804.25 | $1,771.17 | $1,798.70 |
| Jul 22, 2026 | $1,818.09 | $1,818.09 | $1,773.68 | $1,799.21 |
Technical analysis for informational purposes only — not investment advice. Auto-detected patterns and levels update daily; the chart above is live.