Patterson Companies Stock Forecast - 20 Period Moving Average

PD2 Stock  EUR 29.40  0.40  1.34%   
The 20 Period Moving Average forecasted value of Patterson Companies on the next trading day is expected to be 24.31 with a mean absolute deviation of 2.10 and the sum of the absolute errors of 85.91. Patterson Stock Forecast is based on your current time horizon. We recommend always using this module together with an analysis of Patterson Companies' historical fundamentals, such as revenue growth or operating cash flow patterns.
  
A commonly used 20-period moving average forecast model for Patterson Companies is based on a synthetically constructed Patterson Companiesdaily price series in which the value for a trading day is replaced by the mean of that value and the values for 20 of preceding and succeeding time periods. This model is best suited for price series data that changes over time.

Patterson Companies 20 Period Moving Average Price Forecast For the 23rd of December

Given 90 days horizon, the 20 Period Moving Average forecasted value of Patterson Companies on the next trading day is expected to be 24.31 with a mean absolute deviation of 2.10, mean absolute percentage error of 12.09, and the sum of the absolute errors of 85.91.
Please note that although there have been many attempts to predict Patterson 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 Patterson Companies' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Patterson Companies Stock Forecast Pattern

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Patterson Companies Forecasted Value

In the context of forecasting Patterson Companies' 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. Patterson Companies' downside and upside margins for the forecasting period are 19.64 and 28.98, respectively. We have considered Patterson Companies' 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
29.40
24.31
Expected Value
28.98
Upside

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the 20 Period Moving Average forecasting method's relative quality and the estimations of the prediction error of Patterson Companies stock data series using in forecasting. Note that when a statistical model is used to represent Patterson Companies 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 Criteria83.8455
BiasArithmetic mean of the errors -1.8994
MADMean absolute deviation2.0953
MAPEMean absolute percentage error0.0805
SAESum of the absolute errors85.908
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. Patterson Companies 20-period moving average forecast can only be used reliably to predict one or two periods into the future.

Predictive Modules for Patterson Companies

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Patterson Companies. 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
24.7329.4034.07
Details
Intrinsic
Valuation
LowRealHigh
19.7324.4032.34
Details

Other Forecasting Options for Patterson Companies

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

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

Patterson Companies 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 Patterson Companies' 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 Patterson Companies' current price.

Patterson Companies Market Strength Events

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

Patterson Companies Risk Indicators

The analysis of Patterson Companies' 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 Patterson Companies' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting patterson 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.

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Additional Information and Resources on Investing in Patterson Stock

When determining whether Patterson Companies offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Patterson Companies' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Patterson Companies Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Patterson Companies Stock:
Check out Historical Fundamental Analysis of Patterson Companies to cross-verify your projections.
For more detail on how to invest in Patterson Stock please use our How to Invest in Patterson Companies guide.
You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
Please note, there is a significant difference between Patterson Companies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Patterson Companies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Patterson Companies' 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.