MercadoLibre testing support (NASDAQ:MELI)

by Josh 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.

52 Week Range $71.38-$145.99 Market Cap 4,604,709,383 Average Volume 572,420 Dividend Yield 0.53% Institutional Ownership 0.00% Insider Ownership: 1.50% Percentage of Float Short 13.60% Beta 1.40

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.

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