CNX Resources Stock Forecast - Double Exponential Smoothing

Most investors in CNX Resources cannot accurately predict what will happen the next trading day because, historically, stock markets tend to be unpredictable and even illogical. Modeling turbulent structures requires applying different statistical methods, techniques, and algorithms to find hidden data structures or patterns within the CNX Resources' time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets CNX Resources' price structures and extracts relationships that further increase the accuracy of the generated results. Double exponential smoothing - also known as Holt exponential smoothing is a refinement of the popular simple exponential smoothing model with an additional trending component. Double exponential smoothing model for CNX Resources works best with periods where there are trends or seasonality.

CNX Resources Double Exponential Smoothing Price Forecast For the 3rd of November

Given 90 days horizon, the Double Exponential Smoothing forecasted value of CNX Resources Corp on the next trading day is expected to be 33.99 with a mean absolute deviation of 0.48, mean absolute percentage error of 0.41, and the sum of the absolute errors of 28.74.

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Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Double Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of CNX Resources stock data series using in forecasting. Note that when a statistical model is used to represent CNX Resources 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. When CNX Resources Corp prices exhibit either an increasing or decreasing trend over time, simple exponential smoothing forecasts tend to lag behind observations. Double exponential smoothing is designed to address this type of data series by taking into account any CNX Resources Corp trend in the prices. So in double exponential smoothing past observations are given exponentially smaller weights as the observations get older. In other words, recent CNX Resources observations are given relatively more weight in forecasting than the older observations.

Predictive Modules for CNX Resources

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as CNX Resources Corp. 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 Low Estimated High 32.17 34.20 36.23 Details

Intrinsic Valuation Low Real High 28.42 30.45 37.33 Details

11 Analysts Consensus Low Target High 20.18 22.18 24.62 Details

Earnings Estimates (0) Low Projected EPS High 0.28 0.38 0.49 Details

Other Forecasting Options for CNX Resources

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

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CNX Resources Corp 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 CNX Resources' 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 CNX Resources' current price.

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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.

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