MercadoLibre testing support (NASDAQ:MELI)MercadoLibre ($MELI) is testing support today. Shares were last at $104.19 on heavier than average volume. The $104 level is a key support level for MercadoLibre, serving as resistance before the gap up in May and support back in July. Shares are down 28.6% from their October high.
Shares fell below the 200 day moving average in last weeks trading and have continued lower this week.
Mercadolibre, Inc., operates an online trading site for the Latin American markets. The Company’s website allows businesses and individuals to list items and conduct sales and purchases online.