MEL - Meridian Energy

[winner69]

After the initial enthusiasm been down hill ever since. That one day fall from 110 started it all off

My old point and figure chart (love them as it just shows the ups and downs) says it all

How far down will it go I wonder?

[vorno]

After the initial enthusiasm been down hill ever since. That one day fall from 110 started it all off

My old point and figure chart (love them as it just shows the ups and downs) says it all

How far down will it go I wonder?

Speculation can only get us so far! Shall more flock when the first dividend payment comes up? Time shall tell!

[cyclist]

After the initial enthusiasm been down hill ever since. That one day fall from 110 started it all off

My old point and figure chart (love them as it just shows the ups and downs) says it all

How far down will it go I wonder?

W69. Would you mind explaining your chart a little more. What data do you use (e.g. daily close?), and how do you then turn it into this chart type. What would the chart look like if it starts trending back up e.g. green +'s in the third column once it gets beyond 106? And I guess also the benefits of this versus a price/time chart. Thanks.

[winner69]

W69. Would you mind explaining your chart a little more. What data do you use (e.g. daily close?), and how do you then turn it into this chart type. What would the chart look like if it starts trending back up e.g. green +'s in the third column once it gets beyond 106? And I guess also the benefits of this versus a price/time chart. Thanks.

It is using daily closing prices

I like them because it takes a lot of the noise out of price movements. I am looking for changes in price direction (over time) and p&l does this. When one develops over more time than resistance/support levels become very clear. Trend lines also become very obvious.


In this case if melca closed at 106 today I would start a new column of x's at 106 and continue that column up until the price drops by 2 cents and then start a down column of o's

This is a manual one because I like doing them this way sometimes, ESP on something of interest. I do have a cheap app on the iPad (Clever Point and Figure charts) that allows you keep a portfolio of stocks and updates the charts when you want to (from yahoo finance data). Quite cool and it even has a dash board of sorts like the one you see on CBC where the stocks on the watch list are in a table form and they are either coloured red or green or white. Love the day when the screen is all green.

If you want more sure if you good and figure you get a good idea of hem.

Real TA people like Hoop would think jeez winner is losing the plot using what is essentially graph paper. They would say where are the RSI and macd and bollinger bonds and all that. I use them sometimes but in a lot of cases just want to see the underlying big trends.

[cyclist]

Thanks for the that. I didn't realise that "point and Figure" is a widely used technique (I just assumed it was your own idea). Lots of info on the web, which I will digest in more detail. I like the simplicity.

[percy]

I suppose there will be people like me,watching the share price fall,and holding our selves at the ready to buy more share once the trend has turned.!

[sharer]

I suppose there will be people like me,watching the share price fall,and holding our selves at the ready to buy more share once the trend has turned.!

I'm imagining that London/NewYork mob may soon reach the limit with ~10% holding & have to leave the market, which will then sink to impale itself on my sub-100 standing order lurking there ...

[Harvey Specter]

I'm imagining that London/NewYork mob may soon reach the limit with ~10% holding & have to leave the market, which will then sink to impale itself on my sub-100 standing order lurking there ...

I predicted this so put in a sell order at 1.11. It never got hit (too far back in the cue) and the rest is history. Happy to be holding but would have been better to buy back in at a 10% discount.

[Hawkeye]

Dropping to $1.03, could be some nervous politicians out there.....

[robbo24]

I'm imagining that London/NewYork mob may soon reach the limit with ~10% holding & have to leave the market, which will then sink to impale itself on my sub-100 standing order lurking there ...

In which case the taxpayers should be singing praises that they can buy even cheaper shares with a higher yield per share...