WOODSIDE ENE Stock Forecast - Triple Exponential Smoothing

Triple exponential smoothing for WOODSIDE ENE - also known as the Winters method - is a refinement of the popular double exponential smoothing model with the addition of periodicity (seasonality) component. Simple exponential smoothing technique works best with data where there are no trend or seasonality components to the data. When WOODSIDE ENE 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 trend in WOODSIDE ENE price movement. However, neither of these exponential smoothing models address any seasonality of WOODSIDE ENE SPADR.

WOODSIDE ENE Triple Exponential Smoothing Price Forecast For the 14th of December 2024

Given 90 days horizon, the Triple Exponential Smoothing forecasted value of WOODSIDE ENE SPADR on the next trading day is expected to be 13.95 with a mean absolute deviation of 0.32, mean absolute percentage error of 0.21, and the sum of the absolute errors of 19.04.

WOODSIDE ENE Stock Forecast Pattern

Backtest WOODSIDE ENE

WOODSIDE ENE Price Prediction

Buy or Sell Advice

WOODSIDE ENE Forecasted Value

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Triple Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of WOODSIDE ENE stock data series using in forecasting. Note that when a statistical model is used to represent WOODSIDE ENE 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. As with simple exponential smoothing, in triple exponential smoothing models past WOODSIDE ENE observations are given exponentially smaller weights as the observations get older. In other words, recent observations are given relatively more weight in forecasting than the older WOODSIDE ENE SPADR observations.

Predictive Modules for WOODSIDE ENE

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as WOODSIDE ENE SPADR. 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 10.86 14.00 17.14 Details

Intrinsic Valuation Low Real High 9.12 12.26 15.40 Details

Bollinger Band Projection (param) Low Middle High 13.60 14.55 15.50 Details

Other Forecasting Options for WOODSIDE ENE

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

WOODSIDE ENE Related Equities

Risk & Return

Correlation

WOODSIDE ENE SPADR 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 WOODSIDE ENE'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 WOODSIDE ENE's current price.

WOODSIDE ENE Market Strength Events

WOODSIDE ENE Risk Indicators

Currently Active Assets on Macroaxis

Other Information on Investing in WOODSIDE Stock