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AI BECN Forecast

Price Forecast:

Bearish <-> Bullish

Bullish Case: Continued low implied volatility versus historical returns suggests potential for stock appreciation. Favorable upcoming earnings reports coupled with strong demand in construction could push BECN price higher, capitalizing on prior growth trends.

Bearish Case: Insider selling and flat price action raise concerns about future performance. The high implied volatility relative to actual market conditions hints at overvaluation, increasing the odds of a potential price correction.

Potential Outcomes:

1) Price rebounds on strong earnings (40%).

2) Stagnation continues due to market indifference (35%).

3) Market correction leads to decline against fundamentals (25%).

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September 27, 2024

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BECN Beacon Roofing Supply

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Correlated Assets

Assets that tend to move strongly with BECN

AL Air Lease Corp (0.9)

XME SPDR Metals & Mining (0.9)

CNM Core & Main (0.89)

WMS Advanced Drainage Systems (0.89)

FCX Freeport-McMoRan (0.88)

Uncorrelated Assets

Assets with little price relationship to BECN

TWO Two Harbors Investment (0.0)

ROK Rockwell Automation (-0.0)

MNST Monster Beverage (0.0)

CTSH Cognizant Technology (0.0)

TYD Direxion Daily 7-10 Year Treasury Bull 3X Shares (-0.01)

Anticorrelated Assets

Assets that tend to move strongly against BECN

TSAT Telesat Corp (-0.73)

NKLA Nikola (-0.74)

CHTR Charter Communications (-0.76)

VIXY ProShares VIX Short-Term Futures (-0.76)

FWRD Forward Air (-0.79)

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