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AI BL Forecast

Price Forecast:

Bearish <-> Bullish

Bullish Case: Current low implied volatility (27.96% for October) suggests potential for price gains. Positive sentiment from upcoming earnings could fuel investor enthusiasm, possibly driving the price toward resistance levels around $60.

Bearish Case: Implied volatility spikes in anticipation of market uncertainty, indicating potential downturn ahead. Recent performance, including 30% declines from highs, raises concerns over sustained weakness if earnings underperform expectations.

Potential Outcomes:

1. Sideways trading around $51 (55% chance).

2. Price rally to $60 on strong earnings (25% chance).

3. Drop to $45 on disappointing results (20% chance).

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August 21, 2024

BlackLine Forecast

BL BlackLine

Price Forecast
Future Uncertainty

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Correlated Assets

Assets that tend to move strongly with BL

PATH UiPath (0.87)

CSGP Costar Group (0.86)

LZ LegalZoom.com (0.83)

UNIT Uniti (0.82)

GPN Global Payments (0.82)

Uncorrelated Assets

Assets with little price relationship to BL

IVR Invesco Mortgage (0.0)

RXST RxSight (-0.0)

FLNC Fluence Energy (-0.0)

WEC WEC Energy (-0.0)

CHK Chesapeake Energy (-0.0)

Anticorrelated Assets

Assets that tend to move strongly against BL

FOXA Fox Corporation - (-0.63)

BILI Bilibili (-0.69)

OHI Omega Healthcare Investors (-0.7)

CIM Chimera Investment (-0.7)

LNTH Lantheus (-0.71)

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