NextSource Materials Stock Forecast - Daily Balance Of Power
| NEXT Stock | CAD 0.80 0.01 1.23% |
NextSource Stock Forecast is based on your current time horizon. Although NextSource Materials' naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of NextSource Materials' systematic risk associated with finding meaningful patterns of NextSource Materials fundamentals over time.
NextSource |
| Previous Daily Balance Of Power | Daily Balance Of Power | Trend |
| (0.86) | (0.91) |
| Check NextSource Materials Volatility | Backtest NextSource Materials | Trend Details |
NextSource Materials Trading Date Momentum
| On July 11 2023 NextSource Materials was traded for 1.92 at the closing time. The highest price during the trading period was 1.95 and the lowest recorded bid was listed for 1.92 . The volume for the day was 6.9 K. This history from July 11, 2023 contributed to the next trading day price decline. The trading delta at closing time to the next closing price was 1.54% . The trading delta at closing time to the current price is 13.85% . |
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 NextSource Materials to competition |
Other Forecasting Options for NextSource Materials
For every potential investor in NextSource, whether a beginner or expert, NextSource Materials' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. NextSource Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in NextSource. Basic forecasting techniques help filter out the noise by identifying NextSource Materials' price trends.NextSource Materials 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 NextSource Materials stock to make a market-neutral strategy. Peer analysis of NextSource Materials could also be used in its relative valuation, which is a method of valuing NextSource Materials by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
NextSource Materials 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 NextSource Materials' 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 NextSource Materials' current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
NextSource Materials Market Strength Events
Market strength indicators help investors to evaluate how NextSource Materials stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading NextSource Materials shares will generate the highest return on investment. By undertsting and applying NextSource Materials stock market strength indicators, traders can identify NextSource Materials entry and exit signals to maximize returns.
NextSource Materials Risk Indicators
The analysis of NextSource Materials' 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 NextSource Materials' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting nextsource 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 | 3.11 | |||
| Semi Deviation | 2.89 | |||
| Standard Deviation | 4.09 | |||
| Variance | 16.75 | |||
| Downside Variance | 12.39 | |||
| Semi Variance | 8.33 | |||
| Expected Short fall | (4.70) |
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 NextSource Materials
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 NextSource Materials 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 NextSource Materials will appreciate offsetting losses from the drop in the long position's value.Moving against NextSource Stock
| 0.67 | VBNK | VersaBank | PairCorr |
| 0.54 | FSZ | Fiera Capital | PairCorr |
| 0.53 | IE | Ivanhoe Energy | PairCorr |
| 0.52 | LAC | Lithium Americas Corp | PairCorr |
| 0.43 | DGS | Dividend Growth Split | PairCorr |
The ability to find closely correlated positions to NextSource Materials could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NextSource Materials 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 NextSource Materials - 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 NextSource Materials to buy it.
The correlation of NextSource Materials 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 NextSource Materials moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NextSource Materials 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 NextSource Materials 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.Other Information on Investing in NextSource Stock
NextSource Materials financial ratios help investors to determine whether NextSource Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in NextSource with respect to the benefits of owning NextSource Materials security.