GoldMining Stock Forecast - Daily Balance Of Power

GOLD Stock  CAD 1.21  0.04  3.20%   
GoldMining Stock Forecast is based on your current time horizon. Although GoldMining's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of GoldMining's systematic risk associated with finding meaningful patterns of GoldMining fundamentals over time.
  
As of the 7th of December 2024, Payables Turnover is likely to grow to 31.99, while Inventory Turnover is likely to drop 0.63. . As of the 7th of December 2024, Common Stock Shares Outstanding is likely to drop to about 111.7 M. In addition to that, Net Loss is likely to grow to about (14.4 M).
On November 27, 2024 GoldMining had Daily Balance Of Power of 0. Balance of Power indicator (or BOP) measures the strength of GoldMining market sensitivity to bulls and bears. It estimates the ability of GoldMining buyers and sellers to push price to an extreme high or extreme low level. As a result, by monitoring GoldMining Balance of Power indicator one can determine a trend of the price direction.
Check GoldMining VolatilityBacktest GoldMiningTrend Details  

GoldMining Trading Date Momentum

On November 28 2024 GoldMining was traded for  1.25  at the closing time. The highest price during the trading period was 1.26  and the lowest recorded bid was listed for  1.17 . The volume for the day was 141.7 K. This history from November 28, 2024 contributed to the next trading day price boost. The overall trading delta to the next closing price was 5.04% . The overall trading delta to the current price is 3.36% .
Balance of Power indicator was created by Igor Livshin to predict asset short term price movements or warning signals. If Balance of Power indicator is trended towards the high of its range it will signify that the bulls are in control. On the other hand when the BOP indicator is moving towards the lows of its range it signifies that the bears are in control. If the indicator move from a high positive range to a lower positive range it signifies that the buying pressure is decreasing. Conversely, if the indicator move from a low negative range to a higher negative range it signifies that the selling pressure is decreasing.
Compare GoldMining to competition

Other Forecasting Options for GoldMining

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

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

GoldMining 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 GoldMining'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 GoldMining's current price.

GoldMining Market Strength Events

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

GoldMining Risk Indicators

The analysis of GoldMining'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 GoldMining's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting goldmining 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 GoldMining

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

Moving against GoldMining Stock

  0.61WMT Walmart Inc CDRPairCorr
  0.52AMZN Amazon CDRPairCorr
  0.49BRK Berkshire Hathaway CDRPairCorr
  0.4GOOG Alphabet CDRPairCorr
  0.34NVDA NVIDIA CDRPairCorr
The ability to find closely correlated positions to GoldMining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GoldMining 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 GoldMining - 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 GoldMining to buy it.
The correlation of GoldMining 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 GoldMining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GoldMining 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 GoldMining 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 GoldMining is a strong investment it is important to analyze GoldMining's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact GoldMining's future performance. For an informed investment choice regarding GoldMining Stock, refer to the following important reports:
Check out Historical Fundamental Analysis of GoldMining to cross-verify your projections.
To learn how to invest in GoldMining Stock, please use our How to Invest in GoldMining guide.
You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Please note, there is a significant difference between GoldMining's value and its price as these two are different measures arrived at by different means. Investors typically determine if GoldMining is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, GoldMining'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.