Mirion Technologies Stock Forecast - Simple Exponential Smoothing
| MIR Stock | USD 16.58 0.20 1.19% |
The Simple Exponential Smoothing forecasted value of Mirion Technologies on the next trading day is expected to be 16.58 with a mean absolute deviation of 0.27 and the sum of the absolute errors of 16.64. Mirion Stock Forecast is based on your current time horizon. Although Mirion Technologies' naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Mirion Technologies' systematic risk associated with finding meaningful patterns of Mirion Technologies fundamentals over time.
Mirion |
Mirion Technologies Simple Exponential Smoothing Price Forecast For the 27th of November
Given 90 days horizon, the Simple Exponential Smoothing forecasted value of Mirion Technologies on the next trading day is expected to be 16.58 with a mean absolute deviation of 0.27, mean absolute percentage error of 0.13, and the sum of the absolute errors of 16.64.Please note that although there have been many attempts to predict Mirion 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 Mirion Technologies' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Mirion Technologies Stock Forecast Pattern
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Mirion Technologies Forecasted Value
In the context of forecasting Mirion Technologies' 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. Mirion Technologies' downside and upside margins for the forecasting period are 13.81 and 19.35, respectively. We have considered Mirion Technologies' 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 Simple Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of Mirion Technologies stock data series using in forecasting. Note that when a statistical model is used to represent Mirion Technologies 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 | 116.0779 |
| Bias | Arithmetic mean of the errors | -0.0941 |
| MAD | Mean absolute deviation | 0.2728 |
| MAPE | Mean absolute percentage error | 0.0211 |
| SAE | Sum of the absolute errors | 16.64 |
Predictive Modules for Mirion Technologies
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Mirion Technologies. 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 Mirion Technologies
For every potential investor in Mirion, whether a beginner or expert, Mirion Technologies' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Mirion Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Mirion. Basic forecasting techniques help filter out the noise by identifying Mirion Technologies' price trends.View Mirion Technologies Related Equities
| Risk & Return | Correlation |
Mirion Technologies 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 Mirion Technologies' 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 Mirion Technologies' current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
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| Volume Indicators |
Mirion Technologies Market Strength Events
Market strength indicators help investors to evaluate how Mirion Technologies stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Mirion Technologies shares will generate the highest return on investment. By undertsting and applying Mirion Technologies stock market strength indicators, traders can identify Mirion Technologies entry and exit signals to maximize returns.
| Accumulation Distribution | 88821.38 | |||
| Daily Balance Of Power | (0.29) | |||
| Rate Of Daily Change | 0.99 | |||
| Day Median Price | 16.69 | |||
| Day Typical Price | 16.65 | |||
| Price Action Indicator | (0.21) | |||
| Period Momentum Indicator | (0.20) | |||
| Relative Strength Index | 75.39 |
Mirion Technologies Risk Indicators
The analysis of Mirion Technologies' 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 Mirion Technologies' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting mirion 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 | 2.02 | |||
| Semi Deviation | 1.66 | |||
| Standard Deviation | 2.7 | |||
| Variance | 7.3 | |||
| Downside Variance | 5.3 | |||
| Semi Variance | 2.76 | |||
| Expected Short fall | (2.32) |
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.
Additional Tools for Mirion Stock Analysis
When running Mirion Technologies' price analysis, check to measure Mirion Technologies' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Mirion Technologies is operating at the current time. Most of Mirion Technologies' value examination focuses on studying past and present price action to predict the probability of Mirion Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Mirion Technologies' price. Additionally, you may evaluate how the addition of Mirion Technologies to your portfolios can decrease your overall portfolio volatility.