Eneva SA (Brazil) Pattern Recognition Homing Pigeon
| ENEV3 Stock | BRL 11.97 0.19 1.61% |
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Recognition |
The output start index for this execution was eleven with a total number of output elements of fifty. The function generated a total of one valid pattern recognition events for the selected time horizon. The Homing Pigeon pattern may indicate that there is a weakening of the current Eneva SA downward trend.
Eneva SA Technical Analysis Modules
Most technical analysis of Eneva SA help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Eneva from various momentum indicators to cycle indicators. When you analyze Eneva 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 | ||
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About Eneva SA Predictive Technical Analysis
Predictive technical analysis modules help investors to analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Eneva SA. We use our internally-developed statistical techniques to arrive at the intrinsic value of Eneva SA based on widely used predictive technical indicators. In general, we focus on analyzing Eneva Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Eneva SA's daily price indicators and compare them against related drivers, such as pattern recognition and various other types of predictive indicators. Using this methodology combined with a more conventional technical analysis and fundamental analysis, we attempt to find the most accurate representation of Eneva SA's intrinsic value. In addition to deriving basic predictive indicators for Eneva SA, we also check how macroeconomic factors affect Eneva SA price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
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Eneva SA pair trading
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Eneva SA position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Eneva SA will appreciate offsetting losses from the drop in the long position's value.Eneva SA Pair Trading
Eneva SA Pair Trading Analysis
The ability to find closely correlated positions to Eneva SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eneva SA when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Eneva SA - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Eneva SA to buy it.
The correlation of Eneva SA is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eneva SA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eneva SA moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Eneva SA can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for Eneva Stock Analysis
When running Eneva SA's price analysis, check to measure Eneva SA'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 Eneva SA is operating at the current time. Most of Eneva SA's value examination focuses on studying past and present price action to predict the probability of Eneva SA's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Eneva SA's price. Additionally, you may evaluate how the addition of Eneva SA to your portfolios can decrease your overall portfolio volatility.