MELI may be ready for the opening dance
Fair value: $1010
Average yearly return: +52%
Symmetrical Triangle: A symmetrical triangle is composed of a diagonal falling upper trendline and a diagonally rising lower trendline. As the price moves toward the apex, it will inevitably breach the upper trendline for a breakout and uptrend on rising prices or breach the lower trendline forming a breakdown and downtrend with falling prices.
- The relative strength index (RSI) is a popular momentum oscillator.
- The RSI provides technical traders signals about bullish and bearish price momentum, and it is often plotted beneath the graph of an asset’s price.
- An asset is usually considered overbought when the RSI is above 70% and oversold when it is below 30%.