Best Buy Stock Forecast - 8 Period Moving Average

BBY Stock  MXN 1,837  31.73  1.70%   
The 8 Period Moving Average forecasted value of Best Buy Co on the next trading day is expected to be 1,849 with a mean absolute deviation of 23.50 and the sum of the absolute errors of 1,245. Best Stock Forecast is based on your current time horizon.
  
An 8-period moving average forecast model for Best Buy is based on an artificially constructed time series of Best Buy daily prices in which the value for a trading day is replaced by the mean of that value and the values for 8 of preceding and succeeding time periods. This model is best suited for price series data that changes over time.

Best Buy 8 Period Moving Average Price Forecast For the 12th of December 2024

Given 90 days horizon, the 8 Period Moving Average forecasted value of Best Buy Co on the next trading day is expected to be 1,849 with a mean absolute deviation of 23.50, mean absolute percentage error of 850.26, and the sum of the absolute errors of 1,245.
Please note that although there have been many attempts to predict Best 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 Best Buy's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Best Buy Stock Forecast Pattern

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Best Buy Forecasted Value

In the context of forecasting Best Buy'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. Best Buy's downside and upside margins for the forecasting period are 1,848 and 1,850, respectively. We have considered Best Buy'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.
Market Value
1,837
1,849
Expected Value
1,850
Upside

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the 8 Period Moving Average forecasting method's relative quality and the estimations of the prediction error of Best Buy stock data series using in forecasting. Note that when a statistical model is used to represent Best Buy 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.
AICAkaike Information Criteria110.153
BiasArithmetic mean of the errors 5.7085
MADMean absolute deviation23.4976
MAPEMean absolute percentage error0.0126
SAESum of the absolute errors1245.3725
The eieght-period moving average method has an advantage over other forecasting models in that it does smooth out peaks and valleys in a set of daily observations. Best Buy Co 8-period moving average forecast can only be used reliably to predict one or two periods into the future.

Predictive Modules for Best Buy

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Best Buy. 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
LowEstimatedHigh
1,8361,8371,838
Details
Intrinsic
Valuation
LowRealHigh
1,7071,7082,021
Details
Bollinger
Band Projection (param)
LowMiddleHigh
1,8261,8581,890
Details

Other Forecasting Options for Best Buy

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

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

Best Buy 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 Best Buy'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 Best Buy's current price.

Best Buy Market Strength Events

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

Best Buy Risk Indicators

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

Also Currently Popular

Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.

Additional Tools for Best Stock Analysis

When running Best Buy's price analysis, check to measure Best Buy's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Best Buy is operating at the current time. Most of Best Buy's value examination focuses on studying past and present price action to predict the probability of Best Buy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Best Buy's price. Additionally, you may evaluate how the addition of Best Buy to your portfolios can decrease your overall portfolio volatility.