| 
February 22, 2023
After closing the previous trading day at $1,099.33, MercadoLibre is up to $1,113.65, which makes for a move of 1.3%/$14.32 today.
United States FOMC Meeting Minutes is next today at 19:00 UTC.
Meanwhile, United States Existing Home Sales (Jan) came out at 4 million, while a consensus of analysts was expecting 4 million. United States 2-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.673, while the previous figure was 4.139. United States Existing Home Sales released earlier showed a marked improvement to -0.7% from the preceding data of -2.2%, but fell short of the 2% figure forecast by a consensus of market analysts.
MercadoLibre's lower Bollinger Band® is at $1,073.6, indicating that the market is oversold and fertile for new buyers.
Examining the technical analysis landscape, MercadoLibre might continue its downtrend in the short term.
A look at other consumer discretionary stocks also shows bullish price action as Amazon added 2.39% to its value, now trading at $96.84. Home Depot is trading at $299.44 after ending yesterday's session at $295.5 (up 1.33%). Lowe's is up 0.85%.
Furthermore, the market is looking at tomorrow at 16:00 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 1.17 million from the preceding figure of 16.28 million. United States Initial Jobless Claims expected to decline to 200,000 while its preceding data was 194,000, data will be available tomorrow at 13:30 UTC.
The market is looking forward to the release of new data: United States GDP is expected tomorrow at 13:30 UTC.
The e-commerce marketplaces operator has managed to gain 33.07% so far this year despite trading at lows around $612.7 previously.
