Use this graph to draw trend lines for Rio Novo Gold Inc. You can use it to identify possible trend reversals for Rio Novo 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 Rio Novo price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.
Rio Novo Best Fit Change Line
The following chart estimates an ordinary least squares regression model for Rio Novo Gold Inc applied against its price change over selected period. The best fit line has a slop of 0.0026 %
which may suggest that Rio Novo Gold Inc market price will keep on failing further. It has 40 observation points and regression sum of squers of 0.01 which is sum of squared deviations of the predicted Rio Novo price change against its avarage change.
|Price Growth (%) |
|Prediction Trend || ||Rio Novo || |
Rio Novo has a best fit line with a correlation coefficient of -0.89. and coefficient of determination of 0.79. Note, that the company has price-to-book ratio of 0.19.