$MELI can breakout of its SMA200

Swing Trading Strategy: SMA200 Recapture
Ticker: $MELI

$MELI is currently on its path to recapture SMA200, a major support.  This set up offers potential upside as it has done in November 2017 and July 2018 or it can also whipsaw below SMA200 as it hs done in May 2018 to June 2018.

I also noticed a slight increase in volume in the last few days, which is good.  If a breakout happens, money will be made. 

Trade plan: Open properly sized position with stop loss  at SMA200 minus 2x ATR.

Price prediction: No prediction. I do not know what the price will be.

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