[BULLISH]: Meridian Energy has formed a White Closing Marubozu candlestick. This means, MEZ has received strong buying confidence and upward price movement over the trading day with only a small lower shadow present. Given the limited timeframe in which signal has formed, further confirmation is required through volume and additional technical indicators.
This candlestick represents extreme bullishness and it is characterized with a long white body that has a lower shadow but no upper shadow.
Calculation: White Closing Marubozu Candlestick:
1) The body of the candlestick is white and long;
2) There is no upper shadow;
PROFILE: Meridian Energy (MEZ.AX)
Stock Exchange: ASX
Company: Meridian Energy
Ticker Codes: | MEZ.AX | 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.
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