Use this graph to draw trend lines for Nexen Inc. You can use it to identify possible trend reversals for Nexen as well as other signals and approximate when it will take place. Remember, you need at least two touches of the trend line with actual Nexen price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.
Nexen Best Fit Change Line
The following chart estimates an ordinary least squares regression model for Nexen Inc applied against its price change over selected period. The best fit line has a slop of ? %
. It has 0 observation points and regression sum of squers of 0.0 which is sum of squared deviations of the predicted Nexen price change against its avarage change.
Nexen has a best fit line with a correlation coefficient of 0.0. and coefficient of determination of 0.0. Note, that the company has price-to-book ratio of 1.73.