Pocket Pivot Review - BABA, MELI 8-31-16

Published : August 31 2016 at 21:13 ET

Chinese Amazon retail juggernaut BABA had a pocket pivot. We reported on BABA's buyable gap up on August 11 and mentioned it in our Focus List on August 21. BABA then had a low volume pullback through its 10-day moving average then quickly found its footing. 

Latin American online marketplace provider MELI had a pocket pivot off its 10-day line. Earnings and sales are strongly accelerating, pretax margin 30.6%, ROE 36.3%, group rank 13. MELI gapped higher on its prior earnings report. 

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