The SuperTrend signal is currently higher than the stock price for Meridian Energy Limited (MEZ.AX). Active traders may be closely tracking the action to see if the indicator position is pointing to shares entering the buy category.
Investors will be closely watching which way market momentum will shift as we cruise into the back half of the year. Earnest investors will most likely be pouring over the latest earnings reports trying to spot buying opportunities. Many investors will pay especially close attention to companies that have posted large surprise factors over the past quarter. As the dust settles, investors might be monitoring stock price activity following the earning release in order to set up a plan for trading around the next earnings season.
Traders are taking a second look at how shares of Meridian Energy Limited (MEZ.AX) have been performing lately. A favorite tool among technical stock analysts is the moving average. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a specific period of time. Moving averages can be very useful for identifying peaks and troughs. They may also be used to help the trader figure out proper support and resistance levels for the stock. Currently, the 200-day MA is sitting at 2.74, and the 50-day is 2.93.
Meridian Energy Limited (MEZ.AX) currently has a 14-day Commodity Channel Index (CCI) of 167.73. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.
Traders may be narrowing in on the ATR or Average True Range indicator when reviewing technicals. At the time of writing, Meridian Energy Limited (MEZ.AX) has a 14-day ATR of 0.08. The average true range indicator was created by J. Welles Wilder in order to measure volatility. The ATR may assist traders with figuring out the strength of a breakout or reversal in price. It is important to note that the ATR was not designed to determine price direction or to predict future prices.
Meridian Energy Limited (MEZ.AX)’s Williams Percent Range or 14 day Williams %R presently is at -17.39. In general, if the reading goes above -20, the stock may be considered to be overbought. Alternately, if the indicator goes under -80, this may show the stock as being oversold.
We can also take a look at the Average Directional Index or ADX of the stock. For traders looking to capitalize on trends, the ADX may be an essential technical tool. The ADX is used to measure trend strength. ADX calculations are made based on the moving average price range expansion over a specified amount of time. ADX is charted as a line with values ranging from 0 to 100. The indicator is non-directional meaning that it gauges trend strength whether the stock price is trending higher or lower. The 14-day ADX presently sits at 42.49. In general, and ADX value from 0-25 would represent an absent or weak trend. A value of 25-50 would indicate a strong trend. A value of 50-75 would indicate a very strong trend, and a value of 75-100 would signify an extremely strong trend.
Investors may be circling the wagons wondering what’s in store for the stock market over the next few months. Capitalizing on the current trends may be just what the doctor ordered. Searching for value in the current investing landscape may be a priority for some investors. The mindset of one investor may be completely different from another. Sometimes stocks that look too good to be true actually are, and those that are actually very good may not look that enticing. Keeping a close watch on technicals and fundamentals may be a good way to start filtering through the vast sea of equities. Many stock enthusiasts will also keep a sharp focus on positive estimate revisions to help gain an edge in the markets. Whatever the strategy, investors will no doubt be searching far and wide for consistent outperformers.