BlueLinx Holdings Stock Forecast - Relative Strength Index
| BXC Stock | USD 102.54 0.09 0.09% |
BlueLinx Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast BlueLinx Holdings stock prices and determine the direction of BlueLinx Holdings's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of BlueLinx Holdings' historical fundamentals, such as revenue growth or operating cash flow patterns. Although BlueLinx Holdings' naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of BlueLinx Holdings' systematic risk associated with finding meaningful patterns of BlueLinx Holdings fundamentals over time.
Check out Historical Fundamental Analysis of BlueLinx Holdings to cross-verify your projections. BlueLinx |
Open Interest Against 2024-05-17 BlueLinx Option Contracts
Although open interest is a measure utilized in the options markets, it could be used to forecast BlueLinx Holdings' spot prices because the number of available contracts in the market changes daily, and new contracts can be created or liquidated at will. Since open interest in BlueLinx Holdings' options reflects these daily shifts, investors could use the patterns of these changes to develop long and short-term trading strategies for BlueLinx Holdings stock based on available contracts left at the end of a trading day.
Please note that to derive more accurate forecasting about market movement from the current BlueLinx Holdings' open interest, investors have to compare it to BlueLinx Holdings' spot prices. As Ford's stock price increases, high open interest indicates that money is entering the market, and the market is strongly bullish. Conversely, if the price of BlueLinx Holdings is decreasing and there is high open interest, that is a sign that the bearish trend will continue, and investors may react by taking short positions in BlueLinx. So, decreasing or low open interest during a bull market indicates that investors are becoming uncertain of the depth of the bullish trend, and a reversal in sentiment will likely follow.
Most investors in BlueLinx Holdings 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 BlueLinx Holdings' time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets BlueLinx Holdings' price structures and extracts relationships that further increase the generated results' accuracy.
| Check BlueLinx Holdings Volatility | Backtest BlueLinx Holdings | Information Ratio |
BlueLinx Holdings Trading Date Momentum
| On May 05 2024 BlueLinx Holdings was traded for 102.54 at the closing time. Highest BlueLinx Holdings's price during the trading hours was 106.43 and the lowest price during the day was 101.06 . There was no trading activity during the period 0.0. Lack of trading volume on the 5th of May did not affect price variability. The overall trading delta to current price is 2.03% . |
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Other Forecasting Options for BlueLinx Holdings
For every potential investor in BlueLinx, whether a beginner or expert, BlueLinx Holdings' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. BlueLinx Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in BlueLinx. Basic forecasting techniques help filter out the noise by identifying BlueLinx Holdings' price trends.BlueLinx Holdings 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 BlueLinx Holdings stock to make a market-neutral strategy. Peer analysis of BlueLinx Holdings could also be used in its relative valuation, which is a method of valuing BlueLinx Holdings by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
BlueLinx Holdings 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 BlueLinx Holdings' 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 BlueLinx Holdings' current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
BlueLinx Holdings Market Strength Events
Market strength indicators help investors to evaluate how BlueLinx Holdings stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading BlueLinx Holdings shares will generate the highest return on investment. By undertsting and applying BlueLinx Holdings stock market strength indicators, traders can identify BlueLinx Holdings entry and exit signals to maximize returns.
BlueLinx Holdings Risk Indicators
The analysis of BlueLinx Holdings' 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 BlueLinx Holdings' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting bluelinx 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 | 1.9 | |||
| Standard Deviation | 2.46 | |||
| Variance | 6.04 |
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 BlueLinx Holdings
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 BlueLinx Holdings 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 BlueLinx Holdings will appreciate offsetting losses from the drop in the long position's value.Moving together with BlueLinx Stock
| 0.79 | FAST | Fastenal Financial Report 11th of July 2024 | PairCorr |
| 0.75 | AIT | Applied Industrial Financial Report 8th of August 2024 | PairCorr |
The ability to find closely correlated positions to BlueLinx Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BlueLinx Holdings 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 BlueLinx Holdings - 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 BlueLinx Holdings to buy it.
The correlation of BlueLinx Holdings 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 BlueLinx Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BlueLinx Holdings 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 BlueLinx Holdings 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.Check out Historical Fundamental Analysis of BlueLinx Holdings to cross-verify your projections. For information on how to trade BlueLinx Stock refer to our How to Trade BlueLinx Stock guide.You can also try the Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Complementary Tools for BlueLinx Stock analysis
When running BlueLinx Holdings' price analysis, check to measure BlueLinx Holdings' 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 BlueLinx Holdings is operating at the current time. Most of BlueLinx Holdings' value examination focuses on studying past and present price action to predict the probability of BlueLinx Holdings' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move BlueLinx Holdings' price. Additionally, you may evaluate how the addition of BlueLinx Holdings to your portfolios can decrease your overall portfolio volatility.
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Is BlueLinx Holdings' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of BlueLinx Holdings. If investors know BlueLinx will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about BlueLinx Holdings listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.031 | Earnings Share 5.44 | Revenue Per Share 344.913 | Quarterly Revenue Growth (0.09) | Return On Assets 0.0513 |
The market value of BlueLinx Holdings is measured differently than its book value, which is the value of BlueLinx that is recorded on the company's balance sheet. Investors also form their own opinion of BlueLinx Holdings' value that differs from its market value or its book value, called intrinsic value, which is BlueLinx Holdings' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because BlueLinx Holdings' market value can be influenced by many factors that don't directly affect BlueLinx Holdings' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between BlueLinx Holdings' value and its price as these two are different measures arrived at by different means. Investors typically determine if BlueLinx Holdings is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, BlueLinx Holdings' 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.