WORK Medical Stock Forecast - Naive Prediction
| WOK Stock | 5.46 0.75 15.92% |
The Naive Prediction forecasted value of WORK Medical Technology on the next trading day is expected to be 5.22 with a mean absolute deviation of 0.26 and the sum of the absolute errors of 16.09. WORK Stock Forecast is based on your current time horizon. Although WORK Medical's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of WORK Medical's systematic risk associated with finding meaningful patterns of WORK Medical fundamentals over time.
WORK |
WORK Medical Cash Forecast
To forecast cash or other financial indicators, analysts must employ diverse statistical methods, techniques, and algorithms. This approach allows them to detect underlying patterns in the WORK Medical's financial statements, predicting their influence on future market prices.
Cash | First Reported 2010-12-31 | Previous Quarter 1.8 M | Current Value 1.9 M | Quarterly Volatility 648.7 K |
WORK Medical Naive Prediction Price Forecast For the 15th of December 2024
Given 90 days horizon, the Naive Prediction forecasted value of WORK Medical Technology on the next trading day is expected to be 5.22 with a mean absolute deviation of 0.26, mean absolute percentage error of 0.11, and the sum of the absolute errors of 16.09.Please note that although there have been many attempts to predict WORK 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 WORK Medical's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
WORK Medical Stock Forecast Pattern
| Backtest WORK Medical | WORK Medical Price Prediction | Buy or Sell Advice |
WORK Medical Forecasted Value
In the context of forecasting WORK Medical'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. WORK Medical's downside and upside margins for the forecasting period are 0.05 and 11.45, respectively. We have considered WORK Medical'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 Naive Prediction forecasting method's relative quality and the estimations of the prediction error of WORK Medical stock data series using in forecasting. Note that when a statistical model is used to represent WORK Medical 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 | 117.7533 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.2595 |
| MAPE | Mean absolute percentage error | 0.047 |
| SAE | Sum of the absolute errors | 16.0866 |
Predictive Modules for WORK Medical
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as WORK Medical Technology. 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.Other Forecasting Options for WORK Medical
For every potential investor in WORK, whether a beginner or expert, WORK Medical's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. WORK Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in WORK. Basic forecasting techniques help filter out the noise by identifying WORK Medical's price trends.WORK Medical 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 WORK Medical stock to make a market-neutral strategy. Peer analysis of WORK Medical could also be used in its relative valuation, which is a method of valuing WORK Medical by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
WORK Medical Technology 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 WORK Medical'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 WORK Medical's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
WORK Medical Market Strength Events
Market strength indicators help investors to evaluate how WORK Medical stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading WORK Medical shares will generate the highest return on investment. By undertsting and applying WORK Medical stock market strength indicators, traders can identify WORK Medical Technology entry and exit signals to maximize returns.
| Accumulation Distribution | 157184.0 | |||
| Daily Balance Of Power | 0.5906 | |||
| Rate Of Daily Change | 1.16 | |||
| Day Median Price | 5.02 | |||
| Day Typical Price | 5.16 | |||
| Price Action Indicator | 0.82 | |||
| Period Momentum Indicator | 0.75 |
WORK Medical Risk Indicators
The analysis of WORK Medical'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 WORK Medical's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting work 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 | 4.39 | |||
| Semi Deviation | 5.15 | |||
| Standard Deviation | 6.32 | |||
| Variance | 39.96 | |||
| Downside Variance | 29.11 | |||
| Semi Variance | 26.52 | |||
| Expected Short fall | (5.28) |
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.
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Is Health Care Equipment & Supplies space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of WORK Medical. If investors know WORK will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about WORK Medical listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of WORK Medical Technology is measured differently than its book value, which is the value of WORK that is recorded on the company's balance sheet. Investors also form their own opinion of WORK Medical's value that differs from its market value or its book value, called intrinsic value, which is WORK Medical's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because WORK Medical's market value can be influenced by many factors that don't directly affect WORK Medical's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between WORK Medical's value and its price as these two are different measures arrived at by different means. Investors typically determine if WORK Medical is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, WORK Medical's 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.