ChampionX Corporation (CHX)
ChampionX Corporation provides chemical solutions and engineering equipment and technologies to oil and gas companies around the world. The company is headquartered in The Woodlands, Texas.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 149.82% per annum.
- CHX price at the close of May 8, 2024 was $33.88 and was lower than the bottom border of the primary price channel by $166.04 (83.05%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 17.85% per annum.
- CHX price at the close of May 8, 2024 was inside the secondary price channel.
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 CHX 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 9, 2020
End date: November 12, 2021
a = 1.1206
b = 0.0025
s = 0.2015
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0025) – 1
= 149.82%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.2015) – 1
= 123.91%
March 9, 2020 calculations
Top border of price channel:
Exp(Y209)
= Exp(a + b × X209 + 2 × s)
= Exp(a + b × 305 + 2 × s)
= Exp(1.1206 + 0.0025 × 305 + 2 × 0.2015)
= Exp(2.2887)
= $9.86
Bottom border of price channel:
Exp(Y209)
= Exp(a + b × X209 – 2 × s)
= Exp(a + b × 305 – 2 × s)
= Exp(1.1206 + 0.0025 × 305 – 2 × 0.2015)
= Exp(1.4826)
= $4.40
November 12, 2021 calculations
Top border of price channel:
Exp(Y635)
= Exp(a + b × X635 + 2 × s)
= Exp(a + b × 918 + 2 × s)
= Exp(1.1206 + 0.0025 × 918 + 2 × 0.2015)
= Exp(3.8264)
= $45.89
Bottom border of price channel:
Exp(Y635)
= Exp(a + b × X635 – 2 × s)
= Exp(a + b × 918 – 2 × s)
= Exp(1.1206 + 0.0025 × 918 – 2 × 0.2015)
= Exp(3.0203)
= $20.50
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 149.82% per annum.
- CHX price at the close of May 8, 2024 was $33.88 and was lower than the bottom border of the primary price channel by $166.04 (83.05%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: January 5, 2021
End date: May 8, 2024
a = 2.6865
b = 0.0004
s = 0.1320
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0004) – 1
= 17.85%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1320) – 1
= 69.57%
January 5, 2021 calculations
Top border of price channel:
Exp(Y418)
= Exp(a + b × X418 + 2 × s)
= Exp(a + b × 607 + 2 × s)
= Exp(2.6865 + 0.0004 × 607 + 2 × 0.1320)
= Exp(3.2237)
= $25.12
Bottom border of price channel:
Exp(Y418)
= Exp(a + b × X418 – 2 × s)
= Exp(a + b × 607 – 2 × s)
= Exp(2.6865 + 0.0004 × 607 – 2 × 0.1320)
= Exp(2.6956)
= $14.81
May 8, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(2.6865 + 0.0004 × 1,826 + 2 × 0.1320)
= Exp(3.7722)
= $43.48
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(2.6865 + 0.0004 × 1,826 – 2 × 0.1320)
= Exp(3.2441)
= $25.64
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 17.85% per annum.
- CHX price at the close of May 8, 2024 was inside the secondary price channel.