Meridian Energy

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

Basic Candlestick

Score

-6.2

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
SHORT 54 7.3 0.15% 0.16% 0.5% -2.4% -113.8%
LONG 52 8.4 0.33% 0.44% 1.3% -2.1% -60.8%

Summary

Technical Analysis

Meridian Energy (MEZ.AX)


Indicator:

SHORT BLACK CANDLE


Last Signal:

BEARISH


Trading: SELL @ $4.6
Signal Strength: WEAK
Recommendation:

Indicator MUST BE USED in additional to another technical indicator to confirmation for trading position. 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 Japanese candlestick indicator can provide guidance on the short term battle between sellers and buyers from the companies recent trading.


Meridian Energy (ASX:MEZ) has formed a Short Black candlestick. This means, MEZ has limited price movement derived from weak selling pressure. Given the limited timeframe in which signal has formed, further confirmation is required through volume and additional technical indicators.



This candlestick implies a relatively weak selling pressure with a limited price movement.

Calculation: Short Black Candlestick:
1) The body of the candlestick is black and small;


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.

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