Scotts Miracle-Gro Stock Forecast - Naive Prediction

A naive forecasting model for Scotts Miracle-Gro is a special case of the moving average forecasting where the number of periods used for smoothing is one. Therefore, the forecast of The Scotts Miracle Gro value for a given trading day is simply the observed value for the previous period. Due to the simplistic nature of the naive forecasting model, it can only be used to forecast up to one period.

Scotts Miracle-Gro Naive Prediction Price Forecast For the 30th of November

Given 90 days horizon, the Naive Prediction forecasted value of The Scotts Miracle Gro on the next trading day is expected to be 77.06 with a mean absolute deviation of 1.93, mean absolute percentage error of 6.87, and the sum of the absolute errors of 117.84.

Scotts Miracle-Gro Stock Forecast Pattern

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Scotts Miracle-Gro Price Prediction

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Scotts Miracle-Gro Forecasted Value

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 Scotts Miracle-Gro stock data series using in forecasting. Note that when a statistical model is used to represent Scotts Miracle-Gro 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. This model is not at all useful as a medium-long range forecasting tool of The Scotts Miracle Gro. This model is simplistic and is included partly for completeness and partly because of its simplicity. It is unlikely that you'll want to use this model directly to predict Scotts Miracle-Gro. Instead, consider using either the moving average model or the more general weighted moving average model with a higher (i.e., greater than 1) number of periods, and possibly a different set of weights.

Predictive Modules for Scotts Miracle-Gro

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Scotts Miracle-Gro. 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.

Hype Prediction Low Estimated High 68.54 71.14 73.74 Details

Intrinsic Valuation Low Real High 56.91 59.51 78.25 Details

Bollinger Band Projection (param) Low Middle High 66.77 71.68 76.59 Details

Please note, it is not enough to conduct a financial or market analysis of a single entity such as Scotts Miracle-Gro. Your research has to be compared to or analyzed against Scotts Miracle-Gro's peers to derive any actionable benefits. When done correctly, Scotts Miracle-Gro's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Scotts Miracle-Gro.

Other Forecasting Options for Scotts Miracle-Gro

For every potential investor in Scotts, whether a beginner or expert, Scotts Miracle-Gro's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Scotts Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Scotts. Basic forecasting techniques help filter out the noise by identifying Scotts Miracle-Gro's price trends.

Scotts Miracle-Gro Related Equities

Risk & Return

Correlation

Scotts Miracle-Gro 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 Scotts Miracle-Gro'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 Scotts Miracle-Gro's current price.

Scotts Miracle-Gro Market Strength Events

Scotts Miracle-Gro Risk Indicators

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