Meridian Energy

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Meridian Energy continues negative divergence & potential shift in direction

Meridian Energy continues negative divergence & potential shift in direction

[BEARISH]: Meridian Energy current price has highlighted recent selling pressure and the continuation of a bearish trading conditions. Currently, the CMF is -0.34. Meridian Energy (ASX:MEZ) received a confirmed CMF crossover days on the Oct 29 2019. The bearish signal has been active for 0 day. During the quarter, the lowest CMF value was -0.55 occurring on the Oct 29 2019.

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Trading for Meridian Energy highlights the commitment of buyers to carry positions overnight.

[BULLISH]: Meridian Energy buyers are in control at the market close. This is the first day of buyer commitment for Meridian Energy adding strength to an uptrend in the first timeframe & highlights the commitment of buyers to carry positions overnight. Over the last 12 months there has been 3 trading days with the closing price in the upper part of the range giving a confirmation ratio of 1.1%. Over the last month there has been 3 trading days with the closing price in the upper range giving a confirmation ratio of 37.5%. Currently this quarter, closing price has spent 3 days in the upper price range compared to 4 days in the lower range giving a ratio of 0.8x.

Open/close reversal confirmed for Meridian Energy signalling the buyers have taken control

Open/close reversal confirmed for Meridian Energy signalling the buyers have taken control

[BULLISH]: Meridian Energy opened in the middle part of daily range at 50% & closed in the upper part of the trading range at 100%. This suggests the buyers have taken control. Over the last 12 months there has been 1 trading days with the opening price in the middle shadow & the closing the price in the upper shadow giving a confirmation ratio of 0.4%. Over the last month there has been 1 trading days with the opening price in the middle price range & the closing the price in the upper price range giving a confirmation ratio of 12.5%.

Continuation of the overbought CCI signal for MEZ.AX

[BEARISH]: Meridian Energy (ASX:MEZ) current trading has maintained the Commodity Channel Index to overbought status and signalled the continuation of the bearish trading conditions. Currently, the CCI is 112. The bearish signal has been active for 0 day. During the quarter, the highest CCI value was 211.

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