Prakash Steelage (India) Pattern Recognition Three Outside Up or Down
| PRAKASHSTL | 8.62 0.02 0.23% |
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Recognition |
The output start index for this execution was three with a total number of output elements of fifty-eight. The function generated a total of one valid pattern recognition events for the selected time horizon. The Three Outside Up/Down pattern helps to describe Prakash Steelage bearish pattern that is followed by a black day whose close value is lower than the second day.
Prakash Steelage Technical Analysis Modules
Most technical analysis of Prakash Steelage help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Prakash from various momentum indicators to cycle indicators. When you analyze Prakash charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
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About Prakash Steelage Predictive Technical Analysis
Predictive technical analysis modules help investors to analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Prakash Steelage Limited. We use our internally-developed statistical techniques to arrive at the intrinsic value of Prakash Steelage Limited based on widely used predictive technical indicators. In general, we focus on analyzing Prakash Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Prakash Steelage's daily price indicators and compare them against related drivers, such as pattern recognition and various other types of predictive indicators. Using this methodology combined with a more conventional technical analysis and fundamental analysis, we attempt to find the most accurate representation of Prakash Steelage's intrinsic value. In addition to deriving basic predictive indicators for Prakash Steelage, we also check how macroeconomic factors affect Prakash Steelage price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
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Prakash Steelage pair trading
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 Prakash Steelage 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 Prakash Steelage will appreciate offsetting losses from the drop in the long position's value.Prakash Steelage Pair Trading
Prakash Steelage Limited Pair Trading Analysis
The ability to find closely correlated positions to Prakash Steelage could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Prakash Steelage 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 Prakash Steelage - 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 Prakash Steelage Limited to buy it.
The correlation of Prakash Steelage 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 Prakash Steelage moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Prakash Steelage 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 Prakash Steelage 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 Prakash Stock
Prakash Steelage financial ratios help investors to determine whether Prakash 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 Prakash with respect to the benefits of owning Prakash Steelage security.