Precision Drilling Stock Forecast - Polynomial Regression
| PD Stock | CAD 101.05 2.56 2.60% |
The Polynomial Regression forecasted value of Precision Drilling on the next trading day is expected to be 101.01 with a mean absolute deviation of 2.16 and the sum of the absolute errors of 132.05. Precision Stock Forecast 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 recommend 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 5.8718 | EPS Estimate Next Year 7.8366 | Wall Street Target Price 105.5 |
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 Polynomial Regression forecasted value of Precision Drilling on the next trading day is expected to be 101.01 with a mean absolute deviation of 2.16 and the sum of the absolute errors of 132.05. Precision Drilling after-hype prediction price | CAD 101.84 |
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 Polynomial Regression Price Forecast For the 5th of January
Given 90 days horizon, the Polynomial Regression forecasted value of Precision Drilling on the next trading day is expected to be 101.01 with a mean absolute deviation of 2.16, mean absolute percentage error of 6.94, and the sum of the absolute errors of 132.05.Please note that although there have been many attempts to predict Precision 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 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 | Buy or Sell Advice |
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 99.13 and 102.89, 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 Polynomial Regression 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 | 120.0482 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 2.1648 |
| MAPE | Mean absolute percentage error | 0.0253 |
| SAE | Sum of the absolute errors | 132.0523 |
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.
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 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 Precision Drilling'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 Precision Drilling's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
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.
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 | 1.43 | |||
| Semi Deviation | 1.79 | |||
| Standard Deviation | 1.85 | |||
| Variance | 3.43 | |||
| Downside Variance | 4.24 | |||
| Semi Variance | 3.22 | |||
| Expected Short fall | (1.52) |
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.
When determining whether Precision Drilling is a strong investment it is important to analyze Precision Drilling's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Precision Drilling's future performance. For an informed investment choice regarding Precision Stock, refer to the following important reports: 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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .