Meridian Energy

What indicators would you like to setup a trade for?

Candlestick Daily volume index Bar reversal Edit

Trade setup

Position Order Entry Exit Stop Loss Risk Return Expectancy
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

What indicators would you like to backtest?

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%

Company

Indicator

Code Company Date Close Change Indicator Value Signal

Trading Performance

Open vs Close

Score

-8.75

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 110 4.6 0.25% 0.31% 1.1% -2.1% -156.1%
SHORT 108 4.1 0.12% 0.13% 1.1% -2.4% -218.2%

Summary

Technical Analysis

Meridian Energy (MEZ.AX)


Indicator:

OPEN CLOSE CHANGE


Last Signal:

BEARISH


Trading: SELL @ $4.7
Signal Strength: MEDIUM
Recommendation:

Indicator MUST BE USED in additional to another technical indicator to confirmation for trading entry. Indicator can be applied to the short term timeframe but is only able to give and indication of the strength of the buyers versus sellers at the market close. This bar analysis can provide guidance on the daily battle between sellers and buyers from the companies recent trading.


Meridian Energy (ASX:MEZ) opened in the upper part of daily range at 100% & closed in the lower part of the trading range at 0%. This suggests the sellers were in control all day. Over the last 12 months there has been 3 trading days with the opening price in the upper shadow & the closing the price in the lower shadow giving a confirmation ratio of 1.1%. Over the last month there has been 3 trading days with the opening price in the lower upper range & the closing the price in the lower price range giving a confirmation ratio of 23.1%.



The opening and closing bar positions can add depth to assess whether buyers of sellers commitment is changing and thus which side is in control at the close of the trading session.

Calculation: Open Today Versus Close Today (OTCT):
1) If the market opens near the low and closes near the high the buyers have had control during the entire day;
2) If the market opens near the high and closes near the low the sellers have had control during the entire day;
3) If the market opens near one extreme of the range and closes near the middle of the range the side who started in control has lost commitment;
4) If the market opens near one extreme and closes near the same extreme the side who started in control has lost control;
5) If the market opens near the middle of the range and closes near one extreme control has swung to the buyers;
6) If the close is near the high and if the close is near the low the control has swung to the sellers;
7) If the market opens near the middle of the range and closes similarly neither side is strongly committed;


PROFILE: Meridian Energy (MEZ.AX)


Stock Exchange: ASX
Company: Meridian Energy
Ticker Codes: | MEZ.AX | ASX:MEZ |

About Meridian Energy (ASX:MEZ):

Meridian Energy Limited engages in the generation, trading, and retail of electricity. The company generates electricity primarily through water and wind resources. It operates seven hydro stations and five wind farms in New Zealand; owns and operates two wind farms in Australia; and a solar farm in Tongatapu, Tonga. The company provides its electricity to residential, business, and industrial customers. It operates under the Meridian and Powershop brand names. The company also provides management, insurance, financing, professional, trustee, and software development services. Meridian Energy Limited was incorporated in 1998 and is based in Wellington, New Zealand.

Top 10:

Open vs Close

Download
Company Close Change(%) Volume Value Signal
OFX Ozforex 1.59 10.8 939,506 -1 BEARISH
OPT Opthea 3.87 8.4 516,575 -1 BEARISH
EBO Ebos 24.49 7.4 4,608 -1 BEARISH
FID Fiducian 5.58 5.7 27,944 0 BEARISH
DDR Dicker Data 7.37 4.7 121,663 -1 BEARISH
RMS Ramelius Resources 1.24 4.6 3,225,185 0 BEARISH
RSG Resolute Mining 1.6 4.6 10,305,965 0 BEARISH
RCT Reef Casino 2.39 4.4 10,040 0 BEARISH
RKN Reckon 0.73 4.3 14,632 -1 BEARISH
AQG Alacer Gold Corp 5.78 4 81,463 -1 BEARISH