Core Laboratories NV (CLB)
None
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 62.37% per annum.
- CLB price at the close of May 8, 2024 was $16.44 and was higher than the top border of the primary price channel by $2.56 (18.45%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 205.72% per annum.
- CLB price at the close of May 8, 2024 was lower than the bottom border of the secondary price channel by $1.55 (8.61%). 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 CLB 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: July 7, 2023
End date: March 6, 2024
a = 7.3932
b = -0.0027
s = 0.0635
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0027) – 1
= -62.37%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0635) – 1
= 28.93%
July 7, 2023 calculations
Top border of price channel:
Exp(Y1,047)
= Exp(a + b × X1,047 + 2 × s)
= Exp(a + b × 1,520 + 2 × s)
= Exp(7.3932 + -0.0027 × 1,520 + 2 × 0.0635)
= Exp(3.4498)
= $31.50
Bottom border of price channel:
Exp(Y1,047)
= Exp(a + b × X1,047 – 2 × s)
= Exp(a + b × 1,520 – 2 × s)
= Exp(7.3932 + -0.0027 × 1,520 – 2 × 0.0635)
= Exp(3.1958)
= $24.43
March 6, 2024 calculations
Top border of price channel:
Exp(Y1,214)
= Exp(a + b × X1,214 + 2 × s)
= Exp(a + b × 1,763 + 2 × s)
= Exp(7.3932 + -0.0027 × 1,763 + 2 × 0.0635)
= Exp(2.7991)
= $16.43
Bottom border of price channel:
Exp(Y1,214)
= Exp(a + b × X1,214 – 2 × s)
= Exp(a + b × 1,763 – 2 × s)
= Exp(7.3932 + -0.0027 × 1,763 – 2 × 0.0635)
= Exp(2.5450)
= $12.74
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 62.37% per annum.
- CLB price at the close of May 8, 2024 was $16.44 and was higher than the top border of the primary price channel by $2.56 (18.45%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: February 1, 2024
End date: April 16, 2024
a = -2.6457
b = 0.0031
s = 0.0276
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0031) – 1
= 205.72%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0276) – 1
= 11.66%
February 1, 2024 calculations
Top border of price channel:
Exp(Y1,191)
= Exp(a + b × X1,191 + 2 × s)
= Exp(a + b × 1,729 + 2 × s)
= Exp(-2.6457 + 0.0031 × 1,729 + 2 × 0.0276)
= Exp(2.7030)
= $14.92
Bottom border of price channel:
Exp(Y1,191)
= Exp(a + b × X1,191 – 2 × s)
= Exp(a + b × 1,729 – 2 × s)
= Exp(-2.6457 + 0.0031 × 1,729 – 2 × 0.0276)
= Exp(2.5927)
= $13.37
April 16, 2024 calculations
Top border of price channel:
Exp(Y1,242)
= Exp(a + b × X1,242 + 2 × s)
= Exp(a + b × 1,804 + 2 × s)
= Exp(-2.6457 + 0.0031 × 1,804 + 2 × 0.0276)
= Exp(2.9326)
= $18.78
Bottom border of price channel:
Exp(Y1,242)
= Exp(a + b × X1,242 – 2 × s)
= Exp(a + b × 1,804 – 2 × s)
= Exp(-2.6457 + 0.0031 × 1,804 – 2 × 0.0276)
= Exp(2.8223)
= $16.82
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 205.72% per annum.
- CLB price at the close of May 8, 2024 was lower than the bottom border of the secondary price channel by $1.55 (8.61%). This indicates a possible reversal in the secondary trend direction.