Sold Mercadolibre ($MELI) today

Sold my MELI today for break even.  It was going so well for the past three days, then after the grim retail sales number came out today, the stock just broke down.  Personally, I do not understand why MELI did this.  It is a Mexican eBay not a US eBay.  Why this stock reacted to US retail sales number I do not understand.  But the candle stick pattern did not look sightly at all so I got out right away. 

Will look at future movements to determine my entrance again but for now the trend has been broken and I just want to be safe for now.

My Meracadolibre trade (MELI)

Hate stocks that move like this. It made a huge intraday drop before coming back up in the evening.  I ended up turning off my computer screen and went back to bed so that I won’t get too panicked to sell.  Luckily it went back up again and intraday showed a nice recovery putting it back on the trendline I’ve been anxiously hoping for it to stay on. Crazy head fake volatile market.

As shown here. 

Purchased MeracadoLibre ($MELI)

Purchased shares of MELI today at $24.15 after a 16% drop when they disappointed the market on revenue but beat on earnings. 

• The street was expecting earnings to double by .10c a share with a 14% revenue growth. 
• Unfortunately revenue rose by 12% or $32.3 million.
• This decline was not contributed though by lower volume in sales but by currency changes.
• Net income increased to $5.391 million from $2.441 million
• Revenue increased to 32.322 million from $28.841.  Analysts expected revenue to increase $32.93 million. 
• Thus in Mexico Pesos, revenue actually rose by 37%

Analysts can be too mean sometimes, but it gives me opportunities to enter.  Maybe because of the FLU, more people purchase goods at home rather than going to stores.

Technically.

A beautiful chart confirmed my entrance. It fell right on the upward trendline and bounced right back up.  Hopefully it will close above it to confirm by confidence but so far it looks good. Thus as long as it maintains itself above $23.19, I am keeping.

Source: Fool.com & RTT News