MercadoLibre (MELI) is trading at $1,513.52, just above its pivot point of $1,500.47, after a day that was essentially flat at -0.07%. The setup is mixed: several brokers cut price targets in early...

MercadoLibre (MELI) has seen a wave of target reductions over the past week. UBS cut its target to $1,600 from $1,750 and kept a Hold rating on November 11. JPMorgan lowered its target to $1,850 from $2,150 and stayed Neutral on November 9. On November 5, Raymond James trimmed to $2,000 from $2,100 while keeping Strong Buy; Cantor Fitzgerald cut to $2,000 from $2,200 and held Overweight; Scotiabank reduced to $2,300 from $2,800 and kept Sector Outperform; and BTIG Research lowered to $2,050 from $2,150 and maintained Buy.

That cluster matters because it resets the near-term valuation debate even without a fresh earnings print in the evidence set. The targets still sit above the current share price, but the direction of travel is clear: analysts are becoming less aggressive on upside assumptions.

MELI stock closed the session at $1,513.52, barely changed on the day, inside a 24-hour range of $1,465.31 to $1,522.59. The stock is sitting just above the pivot point at $1,500.47, below immediate resistance at $1,535.64 and well under strong resistance at $1,557.75.

The moving-average setup is not trending cleanly. 74. That gap tells you the short-term bounce has not yet recovered the faster trend line. The reported structure is consolidation, and the low-volume pullback reading versus the 5-day average suggests the decline is not being met with heavy distribution.

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