Pro Medicus Stock Forecast - Double Exponential Smoothing

Double exponential smoothing - also known as Holt exponential smoothing is a refinement of the popular simple exponential smoothing model with an additional trending component. Double exponential smoothing model for Pro Medicus works best with periods where there are trends or seasonality.

Pro Medicus Double Exponential Smoothing Price Forecast For the 24th of December

Given 90 days horizon, the Double Exponential Smoothing forecasted value of Pro Medicus on the next trading day is expected to be 251.01 with a mean absolute deviation of 3.68, mean absolute percentage error of 31.89, and the sum of the absolute errors of 217.36.

Pro Medicus Stock Forecast Pattern

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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 Pro Medicus stock data series using in forecasting. Note that when a statistical model is used to represent Pro Medicus 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. When Pro Medicus prices exhibit either an increasing or decreasing trend over time, simple exponential smoothing forecasts tend to lag behind observations. Double exponential smoothing is designed to address this type of data series by taking into account any Pro Medicus trend in the prices. So in double exponential smoothing past observations are given exponentially smaller weights as the observations get older. In other words, recent Pro Medicus observations are given relatively more weight in forecasting than the older observations.

Predictive Modules for Pro Medicus

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Pro Medicus. 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 Low Estimated High 245.62 247.98 250.34 Details

Intrinsic Valuation Low Real High 226.40 228.76 273.52 Details

Earnings Estimates (0) Low Projected EPS High 0.31 0.36 0.45 Details

Other Forecasting Options for Pro Medicus

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

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Pro Medicus 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 Pro Medicus' 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 Pro Medicus' current price.

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