$MELI, $TSM, $IWM, and $PLTR Approach Critical Technical Levels

Market momentum is becoming increasingly tactical as select leaders test key technical inflection points.

From $MELI rebounding sharply off oversold conditions to $TSM and semis flashing overbought signals, traders are watching whether momentum can continue or if mean reversion takes over.

Meanwhile, small caps and growth names like $IWM and $PLTR are approaching critical breakout zones that could determine the next phase of market direction.

1. $MercadoLibre(MELI)$

Last week, $MELI stood out as an overextended bear with high probabilities for a reversal. The stock rallied 7.6% during the week, reaching $1,708, a level included in the screener shared in the Founding Members Hub, where levels for MELI, $SPX and megacaps are updated daily.

Keep an eye next week on the 200 and 5 weekly moving averages.

2. $Taiwan Semiconductor Manufacturing(TSM)$

A weekly overbought RSI followed by a breach of the upper Bollinger Band has previously triggered reversals toward the 20-week moving average.

Different this time?

$VanEck Semiconductor ETF(SMH)$

3. $iShares Russell 2000 ETF(IWM)$

Russell 2000 futures are rallying the most following the positive geopolitical headlines. This upward move needs to widen the Bollinger Bands to accelerate volatility; otherwise, a clash with the upper band could prove toppy. $E-mini Russell 2000 - main 2606(RTYmain)$

4. $Palantir Technologies Inc.(PLTR)$

Price action has had a constructive week with a series of higher highs. The current hurdle is the 20DMA.

A breakout above that blue line could unfold a rally that flips the downtrend.

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