MEZ has been consolidating for quite sometime now and has unable to break support. The price action suggests that it could hit the Resistance level of $5.50 (a potential 8% move) on the upside. My Stoploss will be $4.50, below the previous swing low. Please note these are my own notes, by no means trading advice. Please do your own research before entering into...
MEZ looks good and ripe for a move higher because of the two consecutive breaks of the Bearish Trendlines with High Volume and has bounced off its strong support of $4.60 level. MACD has got bullish too and maybe we shall see the upswing continue to go higher. My target for this trade would be $6.00 level which could be a potential 18% gain. TP - $6. 00...
Meridian Energy (MEL, MEZ) vs. peers of CEN Contact, GEN Genesis, MCY Mercury, VCT Vector, TPW Trustpower, IFT Infratil; with market indicators of the NZ50, Australian XAO, NZD/AUD.