West Red Stock Forecast - Double Exponential Smoothing
| WRLG Stock | 1.37 0.02 1.44% |
West Stock outlook is based on your current time horizon.
The relative strength momentum indicator of West Red's share price is above 70 at this time. This entails that the stock is becoming overbought or overvalued. The idea behind Relative Strength Index (RSI) is that it helps to track how fast people are buying or selling West, making its price go up or down. Momentum 73
Buy Stretched
Oversold | Overbought |
EPS Estimate Current Year 0.1 | EPS Estimate Next Year 0.365 | Wall Street Target Price 1.975 | EPS Estimate Current Quarter (0.01) |
Using West Red hype-based prediction, you can estimate the value of West Red Lake from the perspective of West Red response to recently generated media hype and the effects of current headlines on its competitors.
The Double Exponential Smoothing forecasted value of West Red Lake on the next trading day is expected to be 1.38 with a mean absolute deviation of 0.03 and the sum of the absolute errors of 1.55. West Red after-hype prediction price | CAD 1.35 |
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.
West |
West Red Additional Predictive Modules
Most predictive techniques to examine West price help traders to determine how to time the market. We provide a combination of tools to recognize potential entry and exit points for West using various technical indicators. When you analyze West 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 |
West Red Double Exponential Smoothing Price Forecast For the 28th of January
Given 90 days horizon, the Double Exponential Smoothing forecasted value of West Red Lake on the next trading day is expected to be 1.38 with a mean absolute deviation of 0.03, mean absolute percentage error of 0, and the sum of the absolute errors of 1.55.Please note that although there have been many attempts to predict West 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 West Red's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
West Red Stock Forecast Pattern
| Backtest West Red | West Red Price Prediction | Buy or Sell Advice |
West Red Forecasted Value
In the context of forecasting West Red'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. West Red's downside and upside margins for the forecasting period are 0.01 and 4.41, respectively. We have considered West Red'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 Double Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of West Red stock data series using in forecasting. Note that when a statistical model is used to represent West Red 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 | Huge |
| Bias | Arithmetic mean of the errors | 0.0021 |
| MAD | Mean absolute deviation | 0.0258 |
| MAPE | Mean absolute percentage error | 0.0257 |
| SAE | Sum of the absolute errors | 1.5474 |
Predictive Modules for West Red
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as West Red Lake. 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.West Red After-Hype Price Density Analysis
As far as predicting the price of West Red 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 West Red 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 West Red, with the unreliable approximations that try to describe financial returns.
Next price density |
| Expected price to next headline |
West Red Estimiated After-Hype Price Volatility
In the context of predicting West Red's stock value on the day after the next significant headline, we show statistically significant boundaries of downside and upside scenarios based on West Red's historical news coverage. West Red's after-hype downside and upside margins for the prediction period are 0.07 and 4.38, respectively. We have considered West Red'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 outperform traditional linear, nonlinear models or artificial intelligence models to provide accurate predictions consistently.
Current Value
West Red is very risky at this time. Analysis and calculation of next after-hype price of West Red Lake is based on 3 months time horizon.
West Red Stock Price Outlook Analysis
Have you ever been surprised when a price of a Company such as West Red is soaring high without any particular reason? This is usually happening because many institutional investors are aggressively trading West Red 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 West Red, 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 |
0.77 | 3.03 | 0.02 | 0.50 | 4 Events / Month | 2 Events / Month | In about 4 days |
| Latest traded price | Expected after-news price | Potential return on next major news | Average after-hype volatility | |
1.37 | 1.35 | 1.46 |
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West Red Hype Timeline
West Red Lake is at this time traded for 1.37on TSX Venture Exchange of Canada. The entity has historical hype elasticity of -0.02, and average elasticity to hype of competition of -0.5. West is expected to decline in value after the next headline, with the price expected to drop to 1.35. The average volatility of media hype impact on the company price is over 100%. The price drop on the next news is expected to be -1.46%, whereas the daily expected return is at this time at 0.77%. The volatility of related hype on West Red is about 464.37%, with the expected price after the next announcement by competition of 0.87. The company recorded a loss per share of 0.38. West Red Lake last dividend was issued on the 16th of October 2014. The entity had 1:5 split on the 15th of July 2022. Assuming the 90 days trading horizon the next expected press release will be in about 4 days. Check out Historical Fundamental Analysis of West Red to cross-verify your projections.West Red Related Hype Analysis
Having access to credible news sources related to West Red's direct competition is more important than ever and may enhance your ability to predict West Red's future price movements. Getting to know how West Red'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 West Red may potentially react to the hype associated with one of its peers.
| HypeElasticity | NewsDensity | SemiDeviation | InformationRatio | PotentialUpside | ValueAt Risk | MaximumDrawdown | |||
| MMY | Monument Mining Limited | (0.06) | 3 per month | 3.02 | 0.12 | 4.76 | (4.76) | 18.66 | |
| GRZ | Gold Reserve | (0.88) | 5 per month | 3.91 | 0.16 | 11.22 | (7.66) | 95.44 | |
| BYN | Banyan Gold Corp | (0.08) | 6 per month | 3.72 | 0.17 | 9.68 | (6.00) | 18.94 | |
| VGZ | Vista Gold | (0.14) | 9 per month | 3.44 | 0.14 | 10.64 | (6.30) | 24.49 | |
| LGD | Liberty Gold Corp | 0.01 | 3 per month | 1.84 | 0.19 | 8.25 | (4.05) | 19.46 | |
| AUXX | Gold X2 Mining | 0.01 | 3 per month | 2.81 | 0.23 | 8.43 | (3.77) | 18.60 | |
| RDS | Ressources Minieres Radisson | (0.02) | 1 per month | 4.07 | 0.01 | 9.64 | (7.35) | 26.24 | |
| MAI | Minera Alamos | (4.06) | 2 per month | 3.00 | 0.14 | 6.80 | (6.10) | 17.50 |
Other Forecasting Options for West Red
For every potential investor in West, whether a beginner or expert, West Red's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. West Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in West. Basic forecasting techniques help filter out the noise by identifying West Red's price trends.West Red 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 West Red stock to make a market-neutral strategy. Peer analysis of West Red could also be used in its relative valuation, which is a method of valuing West Red by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
West Red Market Strength Events
Market strength indicators help investors to evaluate how West Red stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading West Red shares will generate the highest return on investment. By undertsting and applying West Red stock market strength indicators, traders can identify West Red Lake entry and exit signals to maximize returns.
West Red Risk Indicators
The analysis of West Red'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 West Red's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting west 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 | 2.46 | |||
| Semi Deviation | 1.9 | |||
| Standard Deviation | 3.05 | |||
| Variance | 9.3 | |||
| Downside Variance | 5.39 | |||
| Semi Variance | 3.62 | |||
| Expected Short fall | (3.36) |
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 West Red
The number of cover stories for West Red depends on current market conditions and West Red's risk-adjusted performance over time. The coverage that generates the most noise at a given time depends on the prevailing investment theme that West Red 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 West Red'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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Additional Tools for West Stock Analysis
When running West Red's price analysis, check to measure West Red'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 West Red is operating at the current time. Most of West Red's value examination focuses on studying past and present price action to predict the probability of West Red's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move West Red's price. Additionally, you may evaluate how the addition of West Red to your portfolios can decrease your overall portfolio volatility.