Shopify Stock Forecast - Simple Regression
| SHOP Stock | CAD 221.00 3.21 1.43% |
The Simple Regression forecasted value of Shopify on the next trading day is expected to be 221.94 with a mean absolute deviation of 8.36 and the sum of the absolute errors of 510.04. Shopify Stock Forecast is based on your current time horizon. Although Shopify's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Shopify's systematic risk associated with finding meaningful patterns of Shopify fundamentals over time.
As of today the relative strength indicator of Shopify's share price is below 20 . This usually implies 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 (0.69) | EPS Estimate Next Quarter 0.5078 | EPS Estimate Current Year 1.4543 | EPS Estimate Next Year 1.8543 | Wall Street Target Price 190.0027 |
Using Shopify hype-based prediction, you can estimate the value of Shopify from the perspective of Shopify response to recently generated media hype and the effects of current headlines on its competitors.
The Simple Regression forecasted value of Shopify on the next trading day is expected to be 221.94 with a mean absolute deviation of 8.36 and the sum of the absolute errors of 510.04. Shopify after-hype prediction price | CAD 221.25 |
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.
Shopify |
Shopify Additional Predictive Modules
Most predictive techniques to examine Shopify price help traders to determine how to time the market. We provide a combination of tools to recognize potential entry and exit points for Shopify using various technical indicators. When you analyze Shopify 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 |
Shopify Simple Regression Price Forecast For the 3rd of January
Given 90 days horizon, the Simple Regression forecasted value of Shopify on the next trading day is expected to be 221.94 with a mean absolute deviation of 8.36, mean absolute percentage error of 128.73, and the sum of the absolute errors of 510.04.Please note that although there have been many attempts to predict Shopify 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 Shopify's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Shopify Stock Forecast Pattern
| Backtest Shopify | Shopify Price Prediction | Buy or Sell Advice |
Shopify Forecasted Value
In the context of forecasting Shopify'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. Shopify's downside and upside margins for the forecasting period are 219.10 and 224.78, respectively. We have considered Shopify'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 Simple Regression forecasting method's relative quality and the estimations of the prediction error of Shopify stock data series using in forecasting. Note that when a statistical model is used to represent Shopify 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 | 122.9682 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 8.3614 |
| MAPE | Mean absolute percentage error | 0.0376 |
| SAE | Sum of the absolute errors | 510.0434 |
Predictive Modules for Shopify
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Shopify. 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 Shopify
For every potential investor in Shopify, whether a beginner or expert, Shopify's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Shopify Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Shopify. Basic forecasting techniques help filter out the noise by identifying Shopify's price trends.Shopify 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 Shopify stock to make a market-neutral strategy. Peer analysis of Shopify could also be used in its relative valuation, which is a method of valuing Shopify by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Shopify 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 Shopify'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 Shopify's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Shopify Market Strength Events
Market strength indicators help investors to evaluate how Shopify stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Shopify shares will generate the highest return on investment. By undertsting and applying Shopify stock market strength indicators, traders can identify Shopify entry and exit signals to maximize returns.
| Accumulation Distribution | 0.0171 | |||
| Daily Balance Of Power | (0.84) | |||
| Rate Of Daily Change | 0.99 | |||
| Day Median Price | 222.54 | |||
| Day Typical Price | 222.03 | |||
| Market Facilitation Index | 3.84 | |||
| Price Action Indicator | (3.15) | |||
| Period Momentum Indicator | (3.21) |
Shopify Risk Indicators
The analysis of Shopify'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 Shopify's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting shopify 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 | 2.2 | |||
| Semi Deviation | 2.79 | |||
| Standard Deviation | 2.95 | |||
| Variance | 8.72 | |||
| Downside Variance | 9.1 | |||
| Semi Variance | 7.8 | |||
| Expected Short fall | (2.35) |
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 Shopify 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 Shopify 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 Shopify Stock. Highlighted below are key reports to facilitate an investment decision about Shopify Stock: Check out Historical Fundamental Analysis of Shopify to cross-verify your projections. To learn how to invest in Shopify Stock, please use our How to Invest in Shopify guide.You can also try the Technical Analysis module to check basic technical indicators and analysis based on most latest market data.