Denison Mines Stock Forecast - 8 Period Moving Average

DML Stock  CAD 3.17  0.01  0.32%   
The 8 Period Moving Average forecasted value of Denison Mines Corp on the next trading day is expected to be 3.23 with a mean absolute deviation of 0.14 and the sum of the absolute errors of 7.27. Denison Stock Forecast is based on your current time horizon. Although Denison Mines' naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Denison Mines' systematic risk associated with finding meaningful patterns of Denison Mines fundamentals over time.
  
As of the 4th of December 2024, Inventory Turnover is likely to drop to 1.03. In addition to that, Payables Turnover is likely to drop to 0.74. As of the 4th of December 2024, Common Stock Shares Outstanding is likely to grow to about 896.7 M. Also, Net Income Applicable To Common Shares is likely to grow to about 17.3 M.
An 8-period moving average forecast model for Denison Mines is based on an artificially constructed time series of Denison Mines 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.

Denison Mines 8 Period Moving Average Price Forecast For the 5th of December

Given 90 days horizon, the 8 Period Moving Average forecasted value of Denison Mines Corp on the next trading day is expected to be 3.23 with a mean absolute deviation of 0.14, mean absolute percentage error of 0.03, and the sum of the absolute errors of 7.27.
Please note that although there have been many attempts to predict Denison 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 Denison Mines' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Denison Mines Stock Forecast Pattern

Backtest Denison MinesDenison Mines Price PredictionBuy or Sell Advice 

Denison Mines Forecasted Value

In the context of forecasting Denison Mines' 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. Denison Mines' downside and upside margins for the forecasting period are 0.03 and 6.42, respectively. We have considered Denison Mines' 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
3.17
3.23
Expected Value
6.42
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 Denison Mines stock data series using in forecasting. Note that when a statistical model is used to represent Denison Mines 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 Criteria100.028
BiasArithmetic mean of the errors -0.0933
MADMean absolute deviation0.1372
MAPEMean absolute percentage error0.0473
SAESum of the absolute errors7.2713
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. Denison Mines Corp 8-period moving average forecast can only be used reliably to predict one or two periods into the future.

Predictive Modules for Denison Mines

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Denison Mines Corp. 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
LowEstimatedHigh
0.163.126.31
Details
Intrinsic
Valuation
LowRealHigh
0.253.446.63
Details
Earnings
Estimates (0)
LowProjected EPSHigh
-0.02-0.01-0.01
Details

Other Forecasting Options for Denison Mines

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

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

Denison Mines Corp 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 Denison Mines' 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 Denison Mines' current price.

Denison Mines Market Strength Events

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

Denison Mines Risk Indicators

The analysis of Denison Mines' 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 Denison Mines' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting denison 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.

Pair Trading with Denison Mines

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 Denison Mines 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 Denison Mines will appreciate offsetting losses from the drop in the long position's value.

Moving together with Denison Stock

  0.93ENB-PFV Enbridge Pref 5PairCorr
  0.69ENB-PFU Enbridge Pref LPairCorr
  0.9ENS E Split CorpPairCorr
  0.8ENS-PA E Split CorpPairCorr

Moving against Denison Stock

  0.65SAGE Sage Potash CorpPairCorr
The ability to find closely correlated positions to Denison Mines could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Denison Mines 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 Denison Mines - 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 Denison Mines Corp to buy it.
The correlation of Denison Mines 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 Denison Mines moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Denison Mines Corp 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 Denison Mines 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.
Pair CorrelationCorrelation Matching
When determining whether Denison Mines Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Denison Mines' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Denison Mines Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Denison Mines Corp Stock:
Check out Historical Fundamental Analysis of Denison Mines to cross-verify your projections.
You can also try the Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
Please note, there is a significant difference between Denison Mines' value and its price as these two are different measures arrived at by different means. Investors typically determine if Denison Mines is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Denison Mines' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.