Quick Win by the Algorithm

On December 1, 2016, the I Know First algorithm had predicted a bullish forecast for Stone Energy (SGY). SGY had a signal of 17.40 and a predictability of 0.1. In accordance with the algorithm, the company reported long-position capital gains of 41.06% experiencing a quick win by the algorithm.

Stone Energy (SGY) is an independent oil and natural gas company engaged in the acquisition, exploration, exploitation, development and operation of oil and gas properties. Their main area of involvement is in the Gulf of Mexico (GOM) and have been operating there since 1993, when they were established.

As with many oil stocks, share price has gone up due to the OPEC deal that will be adopted on January. The deal was completed on Wednesday, November 30, 2016. The deal was to reduce oil production within the companies that are members of OPEC. The reason why companies are benefitting from the deal is that the supply is decreasing while the demand continues to stay the same. Thus, oil companies can charge more for their oil which will positively affects the companies share price.

This bullish forecast on SGY was sent to current I Know First subscribers on December 1, 2016. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

Missed the latest trend? Looking for the next best market opportunity? Find out today’s stock forecast based on our advanced self-learning algorithm