Precision Drilling Stock Forward View
| PD Stock | CAD 119.67 0.81 0.68% |
Precision Stock outlook is based on your current time horizon. Although Precision Drilling's naive historical forecasting may sometimes provide an important future outlook for the firm, we suggest always cross-verifying it against solid analysis of Precision Drilling's systematic risk associated with finding meaningful patterns of Precision Drilling fundamentals over time.
As of today the relative strength index (rsi) of Precision Drilling's share price is below 20 indicating that the stock is significantly oversold. The fundamental principle of the Relative Strength Index (RSI) is to quantify the velocity at which market participants are driving the price of a financial instrument upwards or downwards. Momentum 0
Sell Peaked
Oversold | Overbought |
Quarterly Earnings Growth (0.26) | EPS Estimate Next Quarter 1.8019 | EPS Estimate Current Year 6.045 | EPS Estimate Next Year 7.9403 | Wall Street Target Price 121.25 |
Using Precision Drilling hype-based prediction, you can estimate the value of Precision Drilling from the perspective of Precision Drilling response to recently generated media hype and the effects of current headlines on its competitors.
The Naive Prediction forecasted value of Precision Drilling on the next trading day is expected to be 119.13 with a mean absolute deviation of 1.47 and the sum of the absolute errors of 89.55. Precision Drilling after-hype prediction price | CAD 116.93 |
There is no one specific way to measure market sentiment using hype analysis or a similar predictive technique. This prediction method should be used in combination with more fundamental and traditional techniques such as stock price forecasting, technical analysis, analysts consensus, earnings estimates, and various momentum models.
Precision |
Precision Drilling Additional Predictive Modules
Most predictive techniques to examine Precision price help traders to determine how to time the market. We provide a combination of tools to recognize potential entry and exit points for Precision using various technical indicators. When you analyze Precision charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Precision Drilling Naive Prediction Price Forecast For the 10th of February
Given 90 days horizon, the Naive Prediction forecasted value of Precision Drilling on the next trading day is expected to be 119.13 with a mean absolute deviation of 1.47, mean absolute percentage error of 3.23, and the sum of the absolute errors of 89.55.Please note that although there have been many attempts to predict Precision Stock prices using its time series forecasting, we generally do not suggest using it to place bets in the real market. The most commonly used models for forecasting predictions are the autoregressive models, which specify that Precision Drilling's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Precision Drilling Stock Forecast Pattern
| Backtest Precision Drilling | Precision Drilling Price Prediction | Research Analysis |
Precision Drilling Forecasted Value
In the context of forecasting Precision Drilling'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. Precision Drilling's downside and upside margins for the forecasting period are 117.39 and 120.87, respectively. We have considered Precision Drilling'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 Naive Prediction forecasting method's relative quality and the estimations of the prediction error of Precision Drilling stock data series using in forecasting. Note that when a statistical model is used to represent Precision Drilling 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 | 119.2843 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 1.468 |
| MAPE | Mean absolute percentage error | 0.0153 |
| SAE | Sum of the absolute errors | 89.5479 |
Predictive Modules for Precision Drilling
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Precision Drilling. 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.Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Precision Drilling's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Precision Drilling After-Hype Price Density Analysis
As far as predicting the price of Precision Drilling at your current risk attitude, this probability distribution graph shows the chance that the prediction will fall between or within a specific range. We use this chart to confirm that your returns on investing in Precision Drilling or, for that matter, your successful expectations of its future price, cannot be replicated consistently. Please note, a large amount of money has been lost over the years by many investors who confused the symmetrical distributions of Stock prices, such as prices of Precision Drilling, with the unreliable approximations that try to describe financial returns.
Next price density |
| Expected price to next headline |
Precision Drilling Estimiated After-Hype Price Volatility
In the context of predicting Precision Drilling's stock value on the day after the next significant headline, we show statistically significant boundaries of downside and upside scenarios based on Precision Drilling's historical news coverage. Precision Drilling's after-hype downside and upside margins for the prediction period are 115.17 and 130.75, respectively. We have considered Precision Drilling's daily market price in relation to the headlines to evaluate this method's predictive performance. Remember, however, there is no scientific proof or empirical evidence that news-based prediction models compare with traditional linear, nonlinear models or artificial intelligence models to provide accurate predictions consistently.
Current Value
Precision Drilling is very steady at this time. Analysis and calculation of next after-hype price of Precision Drilling is based on 3 months time horizon.
Precision Drilling Stock Price Outlook Analysis
Have you ever been surprised when a price of a Company such as Precision Drilling is soaring high without any particular reason? This is usually happening because many institutional investors are aggressively trading Precision Drilling backward and forwards among themselves. Have you ever observed a lot of a particular company's price movement is driven by press releases or news about the company that has nothing to do with actual earnings? Usually, hype to individual companies acts as price momentum. If not enough favorable publicity is forthcoming, the Stock price eventually runs out of speed. So, the rule of thumb here is that as long as this news hype has nothing to do with immediate earnings, you should pay more attention to it. If you see this tendency with Precision Drilling, there might be something going there, and it might present an excellent short sale opportunity.
| Expected Return | Period Volatility | Hype Elasticity | Related Elasticity | News Density | Related Density | Expected Hype |
0.57 | 1.74 | 1.93 | 0.02 | 10 Events / Month | 0 Events / Month | In about 10 days |
| Latest traded price | Expected after-news price | Potential return on next major news | Average after-hype volatility | |
119.67 | 116.93 | 1.62 |
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Precision Drilling Hype Timeline
Precision Drilling is at this time traded for 119.67on Toronto Exchange of Canada. The entity has historical hype elasticity of -1.93, and average elasticity to hype of competition of 0.02. Precision is anticipated to decline in value after the next headline, with the price expected to drop to 116.93. The average volatility of media hype impact on the company price is about 51.33%. The price reduction on the next news is expected to be -1.62%, whereas the daily expected return is at this time at 0.57%. The volatility of related hype on Precision Drilling is about 5592.86%, with the expected price after the next announcement by competition of 119.69. About 55.0% of the company shares are owned by institutional investors. The company has price-to-book ratio of 0.92. Typically companies with comparable Price to Book (P/B) are able to outperform the market in the long run. Precision Drilling has Price/Earnings To Growth (PEG) ratio of 0.33. The entity last dividend was issued on the 4th of November 2015. The firm had 1:20 split on the 12th of November 2020. Assuming the 90 days horizon the next anticipated press release will be in about 10 days. Check out Historical Fundamental Analysis of Precision Drilling to cross-verify your projections.Precision Drilling Related Hype Analysis
Having access to credible news sources related to Precision Drilling's direct competition is more important than ever and may enhance your ability to predict Precision Drilling's future price movements. Getting to know how Precision Drilling's peers react to changing market sentiment, related social signals, and mainstream news is a great way to find investing opportunities and time the market. The summary table below summarizes the essential lagging indicators that can help you analyze how Precision Drilling may potentially react to the hype associated with one of its peers.
| HypeElasticity | NewsDensity | SemiDeviation | InformationRatio | PotentialUpside | ValueAt Risk | MaximumDrawdown | |||
| TCW | Trican Well Service | 0.14 | 3 per month | 1.98 | 0.17 | 3.20 | (3.09) | 10.95 | |
| PSI | Pason Systems | 0.00 | 0 per month | 1.42 | (0) | 2.25 | (2.35) | 5.82 | |
| CJ | Cardinal Energy | 0.00 | 0 per month | 1.70 | 0.01 | 3.14 | (3.02) | 7.56 | |
| KEL | Kelt Exploration | 0.00 | 0 per month | 2.43 | (0.04) | 4.16 | (3.87) | 9.99 | |
| MER | Meren Energy | 0.14 | 1 per month | 1.56 | 0.09 | 3.14 | (2.79) | 11.16 | |
| SDE | Spartan Delta Corp | 0.00 | 0 per month | 2.07 | 0.15 | 4.13 | (3.27) | 11.05 | |
| ESI | Ensign Energy Services | 0.00 | 0 per month | 2.66 | 0.12 | 5.51 | (4.00) | 14.02 | |
| TOT | Total Energy Services | 0.00 | 0 per month | 1.94 | 0.08 | 2.80 | (1.93) | 9.40 | |
| MATR | Mattr Corp | 0.00 | 0 per month | 0.00 | (0.07) | 2.63 | (2.51) | 21.36 |
Other Forecasting Options for Precision Drilling
For every potential investor in Precision, whether a beginner or expert, Precision Drilling's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Precision Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Precision. Basic forecasting techniques help filter out the noise by identifying Precision Drilling's price trends.Precision Drilling 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 Precision Drilling stock to make a market-neutral strategy. Peer analysis of Precision Drilling could also be used in its relative valuation, which is a method of valuing Precision Drilling by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Precision Drilling Market Strength Events
Market strength indicators help investors to evaluate how Precision Drilling stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Precision Drilling shares will generate the highest return on investment. By undertsting and applying Precision Drilling stock market strength indicators, traders can identify Precision Drilling entry and exit signals to maximize returns.
| Accumulation Distribution | 1895.68 | |||
| Daily Balance Of Power | 0.2765 | |||
| Rate Of Daily Change | 1.01 | |||
| Day Median Price | 120.31 | |||
| Day Typical Price | 120.09 | |||
| Price Action Indicator | (0.23) | |||
| Period Momentum Indicator | 0.81 |
Precision Drilling Risk Indicators
The analysis of Precision Drilling'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 Precision Drilling's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting precision 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 | 1.38 | |||
| Semi Deviation | 1.01 | |||
| Standard Deviation | 1.72 | |||
| Variance | 2.97 | |||
| Downside Variance | 2.19 | |||
| Semi Variance | 1.01 | |||
| Expected Short fall | (1.64) |
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.
Story Coverage note for Precision Drilling
The number of cover stories for Precision Drilling depends on current market conditions and Precision Drilling's risk-adjusted performance over time. The coverage that generates the most noise at a given time depends on the prevailing investment theme that Precision Drilling is classified under. However, while its typical story may have numerous social followers, the rapid visibility can also attract short-sellers, who usually are skeptical about Precision Drilling's long-term prospects. So, having above-average coverage will typically attract above-average short interest, leading to significant price volatility.
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Precision Drilling Short Properties
Precision Drilling's future price predictability will typically decrease when Precision Drilling's long traders begin to feel the short-sellers pressure to drive the price lower. The predictive aspect of Precision Drilling often depends not only on the future outlook of the potential Precision Drilling's investors but also on the ongoing dynamics between investors with different trading styles. Because the market risk indicators may have small false signals, it is better to identify suitable times to hedge a portfolio using different long/short signals. Precision Drilling's indicators that are reflective of the short sentiment are summarized in the table below.
| Common Stock Shares Outstanding | 14.2 M | |
| Cash And Short Term Investments | 73.8 M |
Check out Historical Fundamental Analysis of Precision Drilling to cross-verify your projections. To learn how to invest in Precision Stock, please use our How to Invest in Precision Drilling guide.You can also try the Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.