Clean Harbors Inc (CLH)
Clean Harbors, Inc. provides environmental and industrial services in North America. The company is headquartered in Norwell, Massachusetts.
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 48.09% per annum.
- CLH price at the close of July 25, 2024 was $222.37 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 85.26% per annum.
- CLH price at the close of July 25, 2024 was lower than the bottom border of the secondary price channel by $2.50 (1.11%). This indicates a possible reversal in the secondary trend direction.
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 CLH 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: May 4, 2022
End date: July 25, 2024
a = 3.4547
b = 0.0011
s = 0.0648
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0011) – 1
= 48.09%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0648) – 1
= 29.60%
May 4, 2022 calculations
Top border of price channel:
Exp(Y699)
= Exp(a + b × X699 + 2 × s)
= Exp(a + b × 1,013 + 2 × s)
= Exp(3.4547 + 0.0011 × 1,013 + 2 × 0.0648)
= Exp(4.6740)
= $107.13
Bottom border of price channel:
Exp(Y699)
= Exp(a + b × X699 – 2 × s)
= Exp(a + b × 1,013 – 2 × s)
= Exp(3.4547 + 0.0011 × 1,013 – 2 × 0.0648)
= Exp(4.4147)
= $82.66
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(3.4547 + 0.0011 × 1,826 + 2 × 0.0648)
= Exp(5.5485)
= $256.86
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.4547 + 0.0011 × 1,826 – 2 × 0.0648)
= Exp(5.2893)
= $198.20
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 48.09% per annum.
- CLH price at the close of July 25, 2024 was $222.37 and was inside the primary price channel.
Secondary Trend
Start date: January 2, 2024
End date: July 25, 2024
a = 2.3765
b = 0.0017
s = 0.0228
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0017) – 1
= 85.26%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0228) – 1
= 9.54%
January 2, 2024 calculations
Top border of price channel:
Exp(Y1,116)
= Exp(a + b × X1,116 + 2 × s)
= Exp(a + b × 1,621 + 2 × s)
= Exp(2.3765 + 0.0017 × 1,621 + 2 × 0.0228)
= Exp(5.1603)
= $174.22
Bottom border of price channel:
Exp(Y1,116)
= Exp(a + b × X1,116 – 2 × s)
= Exp(a + b × 1,621 – 2 × s)
= Exp(2.3765 + 0.0017 × 1,621 – 2 × 0.0228)
= Exp(5.0692)
= $159.05
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(2.3765 + 0.0017 × 1,826 + 2 × 0.0228)
= Exp(5.5066)
= $246.32
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(2.3765 + 0.0017 × 1,826 – 2 × 0.0228)
= Exp(5.4155)
= $224.87
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 85.26% per annum.
- CLH price at the close of July 25, 2024 was lower than the bottom border of the secondary price channel by $2.50 (1.11%). This indicates a possible reversal in the secondary trend direction.