MercadoLibre selloff faces key levels
Wesley Harr | firstname.lastname@example.org
A key level downside level to watch now is the Nov. 3 reactionary high of $76.92. A close below that price could cue up fresh sellers, further pressuring the name and possibly filling a previous gap down to Nov. 2 levels as shown on the 10-month chart below, with small support around $70.
MELI is down 11.5 percent to $77.87 in afternoon trading.
(Chart courtesy of tradeMONSTER)