Mighty River Power

Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Trading Performance

Daily Volume Index

Score

-2.4

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 14 28.9 0.36% 0.50% 2.7% -3.6% -21.9%
SHORT 13 24.2 0.31% 0.36% 0.3% -3.5% -37.2%

Summary

Technical Analysis

Mighty River Power (MCY.AX)


Indicator:

DAILY VOLUME INDEX


Last Signal:

BULLISH


Trading: HOLD @ $3.91
Signal Strength: MEDIUM
Recommendation:

Mighty River Power (ASX:MCY) current accumulation has given strength to the share price and the continuation of bullish trading conditions. Currently, the DVI is 7.


Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. Indicator can be applied to the short/medium term timeframe, but the best results are obtained with larger cyclical swings in-line with the trend direction. This accumulation / distribution oscillator can provide guidance on the money flow direction from the companies recent trading.


The daily volume index (DVI) is the amount of individual securities traded in a day on average over a specified period of time. Trading activity relates to the liquidity of a security. When average daily trading volume is high the stock can be easily traded and has high liquidity if trading volume is not very high and the security will tend to be less expensive because people are not as willing to buy it. As a result average daily trading volume can have an effect on the price of the security.

Calculation: Daily Volume Index (DVI):
1) [Close]-[Average price] / [Average price] x [Volume];


PROFILE: Mighty River Power (MCY.AX)


Stock Exchange: ASX
Company: Mighty River Power
Ticker Codes: | MCY.AX | ASX:MCY |

About Mighty River Power (ASX:MCY):

Mercury NZ Limited, together with its subsidiaries, engages in the production, trading, and sale of electricity from renewable sources in New Zealand. It operates nine hydro generation stations on the Waikato River; and five geothermal generation stations in the central North Island. The company sells electricity to homes, businesses, and industrial customers through GLOBUG, Tiny Mighty, and Bosco brands. It also provides metering infrastructure solutions to electricity retailers through Metrix brand; and solar panel installation services. The company was formerly known as Mighty River Power Limited and changed its name to Mercury NZ Limited in July 2016. Mercury NZ Limited was founded in 1998 and is based in Auckland, New Zealand.

Top 10:

Daily Volume Index

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Company Close Change(%) Volume Value Signal
CSV CSG 0.17 26.9 1,235,815 4,511 BULLISH
PRU Perseus Mining 0.61 21 11,469,507 49,329 BULLISH
WAF West African Resources 0.33 16.1 4,518,149 10,287 BULLISH
NST Northern Star Resources 11.69 9.3 7,110,929 15,736 BULLISH
BOC Bougainville Copper 0.12 9.1 27,100 239 BULLISH
WGX Westgold Resources 1.78 8.9 1,219,326 1,611 BULLISH
AGG Anglogold Ashanti 4.87 8 18,113 224 BULLISH
EVN Evolution Mining 4.39 7.1 18,630,358 63,966 BULLISH
RND Rand Mining 3 7.1 250 10 BULLISH
SLR Silver Lake Resources 1.13 6.6 8,288,727 81,189 BULLISH