Concentrix Corporation (CNXC)
Concentrix Corporation offers global technology customer experience solutions. The company is headquartered in Fremont, California.
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 33.77% per annum.
- CNXC price at the close of July 25, 2024 was $66.79 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 70.57% per annum.
- CNXC price at the close of July 25, 2024 was inside the secondary price channel.
- 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 CNXC 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: September 29, 2021
End date: July 25, 2024
a = 5.6127
b = -0.0011
s = 0.1254
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0011) – 1
= -33.77%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1254) – 1
= 65.13%
September 29, 2021 calculations
Top border of price channel:
Exp(Y211)
= Exp(a + b × X211 + 2 × s)
= Exp(a + b × 309 + 2 × s)
= Exp(5.6127 + -0.0011 × 309 + 2 × 0.1254)
= Exp(5.5146)
= $248.30
Bottom border of price channel:
Exp(Y211)
= Exp(a + b × X211 – 2 × s)
= Exp(a + b × 309 – 2 × s)
= Exp(5.6127 + -0.0011 × 309 – 2 × 0.1254)
= Exp(5.0131)
= $150.37
July 25, 2024 calculations
Top border of price channel:
Exp(Y919)
= Exp(a + b × X919 + 2 × s)
= Exp(a + b × 1,339 + 2 × s)
= Exp(5.6127 + -0.0011 × 1,339 + 2 × 0.1254)
= Exp(4.3519)
= $77.62
Bottom border of price channel:
Exp(Y919)
= Exp(a + b × X919 – 2 × s)
= Exp(a + b × 1,339 – 2 × s)
= Exp(5.6127 + -0.0011 × 1,339 – 2 × 0.1254)
= Exp(3.8504)
= $47.01
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 33.77% per annum.
- CNXC price at the close of July 25, 2024 was $66.79 and was inside the primary price channel.
Secondary Trend
Start date: April 3, 2024
End date: July 25, 2024
a = 2.2416
b = 0.0015
s = 0.0464
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0015) – 1
= 70.57%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0464) – 1
= 20.40%
April 3, 2024 calculations
Top border of price channel:
Exp(Y841)
= Exp(a + b × X841 + 2 × s)
= Exp(a + b × 1,226 + 2 × s)
= Exp(2.2416 + 0.0015 × 1,226 + 2 × 0.0464)
= Exp(4.1280)
= $62.05
Bottom border of price channel:
Exp(Y841)
= Exp(a + b × X841 – 2 × s)
= Exp(a + b × 1,226 – 2 × s)
= Exp(2.2416 + 0.0015 × 1,226 – 2 × 0.0464)
= Exp(3.9423)
= $51.54
July 25, 2024 calculations
Top border of price channel:
Exp(Y919)
= Exp(a + b × X919 + 2 × s)
= Exp(a + b × 1,339 + 2 × s)
= Exp(2.2416 + 0.0015 × 1,339 + 2 × 0.0464)
= Exp(4.2933)
= $73.21
Bottom border of price channel:
Exp(Y919)
= Exp(a + b × X919 – 2 × s)
= Exp(a + b × 1,339 – 2 × s)
= Exp(2.2416 + 0.0015 × 1,339 – 2 × 0.0464)
= Exp(4.1077)
= $60.80
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 70.57% per annum.
- CNXC price at the close of July 25, 2024 was inside the secondary price channel.