ASGN Inc (ASGN)
ASGN Incorporated provides professional staff and IT solutions in the fields of technology, digital, creative, engineering and life sciences in the commercial and government sectors in the United States and internationally. The company is headquartered in Glen Allen, Virginia.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is decreasing.
- The decline rate of the primary trend is 14.86% per annum.
- ASGN price at the close of July 25, 2024 was $92.77 and was higher than the top border of the primary price channel by $7.99 (9.43%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 55.05% per annum.
- ASGN price at the close of July 25, 2024 was lower than the bottom border of the secondary price channel by $16.69 (15.25%). This indicates a possible reversal in the secondary trend direction.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of ASGN price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: March 10, 2021
End date: November 13, 2023
a = 5.0304
b = -0.0004
s = 0.1073
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0004) – 1
= -14.86%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1073) – 1
= 53.62%
March 10, 2021 calculations
Top border of price channel:
Exp(Y408)
= Exp(a + b × X408 + 2 × s)
= Exp(a + b × 593 + 2 × s)
= Exp(5.0304 + -0.0004 × 593 + 2 × 0.1073)
= Exp(4.9837)
= $146.01
Bottom border of price channel:
Exp(Y408)
= Exp(a + b × X408 – 2 × s)
= Exp(a + b × 593 – 2 × s)
= Exp(5.0304 + -0.0004 × 593 – 2 × 0.1073)
= Exp(4.5544)
= $95.05
November 13, 2023 calculations
Top border of price channel:
Exp(Y1,083)
= Exp(a + b × X1,083 + 2 × s)
= Exp(a + b × 1,571 + 2 × s)
= Exp(5.0304 + -0.0004 × 1,571 + 2 × 0.1073)
= Exp(4.5525)
= $94.87
Bottom border of price channel:
Exp(Y1,083)
= Exp(a + b × X1,083 – 2 × s)
= Exp(a + b × 1,571 – 2 × s)
= Exp(5.0304 + -0.0004 × 1,571 – 2 × 0.1073)
= Exp(4.1232)
= $61.76
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 14.86% per annum.
- ASGN price at the close of July 25, 2024 was $92.77 and was higher than the top border of the primary price channel by $7.99 (9.43%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: April 24, 2023
End date: April 9, 2024
a = 2.5760
b = 0.0012
s = 0.0372
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0012) – 1
= 55.05%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0372) – 1
= 16.05%
April 24, 2023 calculations
Top border of price channel:
Exp(Y942)
= Exp(a + b × X942 + 2 × s)
= Exp(a + b × 1,368 + 2 × s)
= Exp(2.5760 + 0.0012 × 1,368 + 2 × 0.0372)
= Exp(4.2942)
= $73.27
Bottom border of price channel:
Exp(Y942)
= Exp(a + b × X942 – 2 × s)
= Exp(a + b × 1,368 – 2 × s)
= Exp(2.5760 + 0.0012 × 1,368 – 2 × 0.0372)
= Exp(4.1453)
= $63.14
April 9, 2024 calculations
Top border of price channel:
Exp(Y1,183)
= Exp(a + b × X1,183 + 2 × s)
= Exp(a + b × 1,719 + 2 × s)
= Exp(2.5760 + 0.0012 × 1,719 + 2 × 0.0372)
= Exp(4.7159)
= $111.71
Bottom border of price channel:
Exp(Y1,183)
= Exp(a + b × X1,183 – 2 × s)
= Exp(a + b × 1,719 – 2 × s)
= Exp(2.5760 + 0.0012 × 1,719 – 2 × 0.0372)
= Exp(4.5670)
= $96.26
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 55.05% per annum.
- ASGN price at the close of July 25, 2024 was lower than the bottom border of the secondary price channel by $16.69 (15.25%). This indicates a possible reversal in the secondary trend direction.