MELI is getting close to a buy

Here's a TA chart* for MELI....

(click to enlarge)

...that says to me "it's nearly a buy". As part of this post at the end of last week, I wrote, "....MELI is still somewhat overpriced at U$44 right now, but is a good stock to trade both ways. If it gets oversold to, let's say U$30, go long on it because it's not going Chap11 no way José....". The only thing that's changed since then is the share price, having been dumped to tonight's U$37.86 close. But even though I mentioned U$30 last week, I think that could be a stretch as the low, so the trading set-up is as follows:

• Buy 50% position if MELI downs to U$35 (it looks like a long-term resistance level to my eye)
  

• Buy the other 50% if MELI drops through U$32.5 (the February low)
  

• If entry is made, I'll be looking for U$45 on the way up as first stop. From there we'll see how things stand.

• Short-term trade mentality.

• Strictly no entry before U$35. If it reverses and rises before then, we wish it good luck and you wave it goodbye.

To repeat a comment from another post on TA last week; in this market atmosphere, I'm not looking for a slight advantage from any short-term trade. I want massive overbuying/overselling and a monstrous, screaming "trade me now!!" shout from the company and its chart. I want the sheep who write idiotic comments underneath SeekingAlpha posts that dare to question their beloved stock to be sweating on their August calls. You know the ones; those permabulls who can't sell a stock underwater to save their egos or their financial lives. I would say that right here right now at U$38, MELI is oversold. But it's not crazycheap oversold yet, and that's what I'm waiting for. If I get my target price, well happy happy. If not, there are other fish in the sea.

*With apologies to the real dudes, Gary