BP Prudhoe Stock Forecast - Double Exponential Smoothing
| BMI Stock | EUR 1.00 0.02 2.04% |
The Double Exponential Smoothing forecasted value of BP Prudhoe Bay on the next trading day is expected to be 1.00 with a mean absolute deviation of 0.05 and the sum of the absolute errors of 3.17. BMI Stock Forecast is based on your current time horizon. We recommend always using this module together with an analysis of BP Prudhoe's historical fundamentals, such as revenue growth or operating cash flow patterns.
BMI |
BP Prudhoe Double Exponential Smoothing Price Forecast For the 24th of November
Given 90 days horizon, the Double Exponential Smoothing forecasted value of BP Prudhoe Bay on the next trading day is expected to be 1.00 with a mean absolute deviation of 0.05, mean absolute percentage error of 0.01, and the sum of the absolute errors of 3.17.Please note that although there have been many attempts to predict BMI Stock prices using its time series forecasting, we generally do not recommend using it to place bets in the real market. The most commonly used models for forecasting predictions are the autoregressive models, which specify that BP Prudhoe's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
BP Prudhoe Stock Forecast Pattern
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BP Prudhoe Forecasted Value
In the context of forecasting BP Prudhoe's Stock value on the next trading day, we examine the predictive performance of the model to find good statistically significant boundaries of downside and upside scenarios. BP Prudhoe's downside and upside margins for the forecasting period are 0.01 and 7.80, respectively. We have considered BP Prudhoe's daily market price to evaluate the above model's predictive performance. Remember, however, there is no scientific proof or empirical evidence that traditional linear or nonlinear forecasting models outperform artificial intelligence and frequency domain models to provide accurate forecasts consistently.
Model Predictive Factors
The below table displays some essential indicators generated by the model showing the Double Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of BP Prudhoe stock data series using in forecasting. Note that when a statistical model is used to represent BP Prudhoe stock, the representation will rarely be exact; so some information will be lost using the model to explain the process. AIC estimates the relative amount of information lost by a given model: the less information a model loses, the higher its quality.| AIC | Akaike Information Criteria | Huge |
| Bias | Arithmetic mean of the errors | -0.0117 |
| MAD | Mean absolute deviation | 0.0537 |
| MAPE | Mean absolute percentage error | 0.0529 |
| SAE | Sum of the absolute errors | 3.1663 |
Predictive Modules for BP Prudhoe
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as BP Prudhoe Bay. Regardless of method or technology, however, to accurately forecast the stock market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.Other Forecasting Options for BP Prudhoe
For every potential investor in BMI, whether a beginner or expert, BP Prudhoe's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. BMI Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in BMI. Basic forecasting techniques help filter out the noise by identifying BP Prudhoe's price trends.BP Prudhoe Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with BP Prudhoe stock to make a market-neutral strategy. Peer analysis of BP Prudhoe could also be used in its relative valuation, which is a method of valuing BP Prudhoe by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
BP Prudhoe Bay Technical and Predictive Analytics
The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of BP Prudhoe's price movements, a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of BP Prudhoe's current price.| Cycle Indicators | ||
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BP Prudhoe Market Strength Events
Market strength indicators help investors to evaluate how BP Prudhoe stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading BP Prudhoe shares will generate the highest return on investment. By undertsting and applying BP Prudhoe stock market strength indicators, traders can identify BP Prudhoe Bay entry and exit signals to maximize returns.
BP Prudhoe Risk Indicators
The analysis of BP Prudhoe's basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in BP Prudhoe's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting bmi stock prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
| Mean Deviation | 4.53 | |||
| Standard Deviation | 6.76 | |||
| Variance | 45.76 |
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.
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Additional Information and Resources on Investing in BMI Stock
When determining whether BP Prudhoe Bay is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if BMI Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Bp Prudhoe Bay Stock. Highlighted below are key reports to facilitate an investment decision about Bp Prudhoe Bay Stock:Check out Historical Fundamental Analysis of BP Prudhoe to cross-verify your projections. You can also try the Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.