Worksport Stock Forecast - 8 Period Moving Average

WKSP Stock  USD 0.83  0.02  2.35%   
The 8 Period Moving Average forecasted value of Worksport on the next trading day is expected to be 0.88 with a mean absolute deviation of 0.08 and the sum of the absolute errors of 4.32. Worksport Stock Forecast is based on your current time horizon. Although Worksport's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Worksport's systematic risk associated with finding meaningful patterns of Worksport fundamentals over time.
  
As of 02/19/2025, Fixed Asset Turnover is likely to grow to 0.11, while Inventory Turnover is likely to drop 0.30. . As of 02/19/2025, Common Stock Shares Outstanding is likely to grow to about 21.4 M, though Net Loss is likely to grow to (10.7 M).
An 8-period moving average forecast model for Worksport is based on an artificially constructed time series of Worksport daily prices in which the value for a trading day is replaced by the mean of that value and the values for 8 of preceding and succeeding time periods. This model is best suited for price series data that changes over time.

Worksport 8 Period Moving Average Price Forecast For the 20th of February

Given 90 days horizon, the 8 Period Moving Average forecasted value of Worksport on the next trading day is expected to be 0.88 with a mean absolute deviation of 0.08, mean absolute percentage error of 0.01, and the sum of the absolute errors of 4.32.
Please note that although there have been many attempts to predict Worksport 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 Worksport's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Worksport Stock Forecast Pattern

JavaScript chart by amCharts 3.21.15Nov 26Dec 5Dec 13Dec 23Jan 2Jan 13Jan 22Jan 30Feb 7Feb 190.50.60.70.80.91.0
JavaScript chart by amCharts 3.21.15Worksport Worksport forecast
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Worksport Forecasted Value

In the context of forecasting Worksport'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. Worksport's downside and upside margins for the forecasting period are 0.01 and 7.35, respectively. We have considered Worksport'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.
Market Value
0.83
0.88
Expected Value
7.35
Upside

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the 8 Period Moving Average forecasting method's relative quality and the estimations of the prediction error of Worksport stock data series using in forecasting. Note that when a statistical model is used to represent Worksport 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.
AICAkaike Information Criteria98.8421
BiasArithmetic mean of the errors -0.0229
MADMean absolute deviation0.0814
MAPEMean absolute percentage error0.091
SAESum of the absolute errors4.3163
The eieght-period moving average method has an advantage over other forecasting models in that it does smooth out peaks and valleys in a set of daily observations. Worksport 8-period moving average forecast can only be used reliably to predict one or two periods into the future.

Predictive Modules for Worksport

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Worksport. 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 Worksport'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.
Hype
Prediction
LowEstimatedHigh
0.040.857.32
Details
Intrinsic
Valuation
LowRealHigh
0.051.027.49
Details
2 Analysts
Consensus
LowTargetHigh
1.591.751.94
Details
Earnings
Estimates (0)
LowProjected EPSHigh
0.000.000.00
Details

Other Forecasting Options for Worksport

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

Worksport 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 Worksport stock to make a market-neutral strategy. Peer analysis of Worksport could also be used in its relative valuation, which is a method of valuing Worksport by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Worksport 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 Worksport'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 Worksport's current price.

Worksport Market Strength Events

Market strength indicators help investors to evaluate how Worksport stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Worksport shares will generate the highest return on investment. By undertsting and applying Worksport stock market strength indicators, traders can identify Worksport entry and exit signals to maximize returns.

Worksport Risk Indicators

The analysis of Worksport'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 Worksport's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting worksport 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.
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 Worksport Stock Analysis

When running Worksport's price analysis, check to measure Worksport's 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 Worksport is operating at the current time. Most of Worksport's value examination focuses on studying past and present price action to predict the probability of Worksport's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Worksport's price. Additionally, you may evaluate how the addition of Worksport to your portfolios can decrease your overall portfolio volatility.
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