Stock Price Trends

The Cooper Companies Inc. (COO)

The Cooper Companies, Inc., branded as CooperCompanies, is a global medical device company headquartered in San Ramon, 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 16.42% per annum.
  • COO price at the close of May 17, 2024 was $97.31 and was higher than the top border of the primary price channel by $23.87 (32.49%). This indicates a possible reversal in the primary trend direction.
  • The secondary trend is increasing.
  • The growth rate of the secondary trend is 12.59% per annum.
  • COO price at the close of May 17, 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 COO 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: January 13, 2021
End date: January 3, 2023

a = 4.9916

b = -0.0005

s = 0.1005

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × -0.0005) – 1
= -16.42%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.1005) – 1
= 49.51%

January 13, 2021 calculations

Top border of price channel:

Exp(Y417)
= Exp(a + b × X417 + 2 × s)
= Exp(a + b × 604 + 2 × s)
= Exp(4.9916 + -0.0005 × 604 + 2 × 0.1005)
= Exp(4.8959)
= $133.74

Bottom border of price channel:

Exp(Y417)
= Exp(a + b × X417 – 2 × s)
= Exp(a + b × 604 – 2 × s)
= Exp(4.9916 + -0.0005 × 604 – 2 × 0.1005)
= Exp(4.4938)
= $89.46

January 3, 2023 calculations

Top border of price channel:

Exp(Y913)
= Exp(a + b × X913 + 2 × s)
= Exp(a + b × 1,324 + 2 × s)
= Exp(4.9916 + -0.0005 × 1,324 + 2 × 0.1005)
= Exp(4.5422)
= $93.90

Bottom border of price channel:

Exp(Y913)
= Exp(a + b × X913 – 2 × s)
= Exp(a + b × 1,324 – 2 × s)
= Exp(4.9916 + -0.0005 × 1,324 – 2 × 0.1005)
= Exp(4.1400)
= $62.80

Description

  • The primary trend is decreasing.
  • The decline rate of the primary trend is 16.42% per annum.
  • COO price at the close of May 17, 2024 was $97.31 and was higher than the top border of the primary price channel by $23.87 (32.49%). This indicates a possible reversal in the primary trend direction.

Secondary Trend

Start date: May 6, 2022
End date: May 17, 2024

a = 3.9792

b = 0.0003

s = 0.0835

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0003) – 1
= 12.59%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0835) – 1
= 39.64%

May 6, 2022 calculations

Top border of price channel:

Exp(Y748)
= Exp(a + b × X748 + 2 × s)
= Exp(a + b × 1,082 + 2 × s)
= Exp(3.9792 + 0.0003 × 1,082 + 2 × 0.0835)
= Exp(4.4977)
= $89.81

Bottom border of price channel:

Exp(Y748)
= Exp(a + b × X748 – 2 × s)
= Exp(a + b × 1,082 – 2 × s)
= Exp(3.9792 + 0.0003 × 1,082 – 2 × 0.0835)
= Exp(4.1638)
= $64.32

May 17, 2024 calculations

Top border of price channel:

Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(3.9792 + 0.0003 × 1,824 + 2 × 0.0835)
= Exp(4.7388)
= $114.30

Bottom border of price channel:

Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(3.9792 + 0.0003 × 1,824 – 2 × 0.0835)
= Exp(4.4049)
= $81.85

Description

  • The secondary trend is increasing.
  • The growth rate of the secondary trend is 12.59% per annum.
  • COO price at the close of May 17, 2024 was inside the secondary price channel.