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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Company

Indicator

Code Company Date Close Change Indicator Value Signal

Trading Performance

Weak Reversal

Score

-0.25

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 14 14.2 0.57% 1.14% 3.6% -1.6% 17.9%
SHORT 13 42.0 0.38% 0.63% 1.7% -5.1% -32.7%

Summary

Technical Analysis

Meridian Energy (MEZ.AX)


Indicator:

THREE BLACK CROWS


Last Signal:

BEARISH


Trading: SELL @ $4.44
Signal Strength: STRONG
Recommendation:

Indicator CAN 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 new Three Black Crows reversal pattern.



This pattern indicates a strong reversal in the market. It is characterized by three normal or long candlesticks decrementing downwards. The opening of each day is slightly higher than previous close and prices progressively close at lower levels. This staircase like behaviour signals the reversal of the trend. Calculation: Three Black Crows Candlestick Pattern: 1) The market is characterized by a prevailing uptrend; 2) Three consecutive normal or long black candlesticks are observed; 3) Each candlestick opens within the body of the previous day; 4) Candlesticks progressively close at new lows below the preceding day;


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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