Wajax Stock Forecast is based on your current time horizon. Although Wajax's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Wajax's systematic risk associated with finding meaningful patterns of Wajax fundamentals over time.
Wajax has current Price Action Indicator of (0.24). Price Action indicator evaluates an asset for a given trading period using the following formula: ((close - open) + (close - high) + (close - low)) / 2. This indicator is consistent with the interpretation of Japanese candlestick patterns.
On December 12 2024 Wajax was traded for 22.80 at the closing time. The maximum traded price for the trading interval was 23.09 and the lowest daily price was 22.70 . The daily volume was recorded at 62.8 K. The volume of trading on 12th of December 2024 had no short-term effect on price fluctuation. The trading price change to the closing price today is 1.27% .
Price Action Indicator (or PAIN) was developed by Michael B. Geraty and published in 'Futures' magazine in August 1997.
For every potential investor in Wajax, whether a beginner or expert, Wajax's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Wajax Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Wajax. Basic forecasting techniques help filter out the noise by identifying Wajax's price trends.
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 Wajax stock to make a market-neutral strategy. Peer analysis of Wajax could also be used in its relative valuation, which is a method of valuing Wajax by comparing valuation metrics with similar companies.
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 Wajax'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 Wajax's current price.
Market strength indicators help investors to evaluate how Wajax stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Wajax shares will generate the highest return on investment. By undertsting and applying Wajax stock market strength indicators, traders can identify Wajax entry and exit signals to maximize returns.
The analysis of Wajax'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 Wajax's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting wajax 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 Wajax
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 Wajax 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 Wajax will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Wajax could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wajax 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 Wajax - 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 Wajax to buy it.
The correlation of Wajax 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 Wajax moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wajax 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 Wajax 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.
Wajax financial ratios help investors to determine whether Wajax Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Wajax with respect to the benefits of owning Wajax security.