Chesapeake Utilities Corporation (CPK)
Chesapeake Utilities Corporation is a power supply company. The company is headquartered in Dover, Delaware.
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 8.39% per annum.
- CPK price at the close of July 25, 2024 was $117.81 and was higher than the top border of the primary price channel by $1.54 (1.33%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 30.47% per annum.
- CPK 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 CPK 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: August 3, 2021
End date: July 11, 2024
a = 5.0550
b = -0.0002
s = 0.0698
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0002) – 1
= -8.39%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0698) – 1
= 32.19%
August 3, 2021 calculations
Top border of price channel:
Exp(Y509)
= Exp(a + b × X509 + 2 × s)
= Exp(a + b × 739 + 2 × s)
= Exp(5.0550 + -0.0002 × 739 + 2 × 0.0698)
= Exp(5.0170)
= $150.96
Bottom border of price channel:
Exp(Y509)
= Exp(a + b × X509 – 2 × s)
= Exp(a + b × 739 – 2 × s)
= Exp(5.0550 + -0.0002 × 739 – 2 × 0.0698)
= Exp(4.7379)
= $114.19
July 11, 2024 calculations
Top border of price channel:
Exp(Y1,247)
= Exp(a + b × X1,247 + 2 × s)
= Exp(a + b × 1,812 + 2 × s)
= Exp(5.0550 + -0.0002 × 1,812 + 2 × 0.0698)
= Exp(4.7593)
= $116.66
Bottom border of price channel:
Exp(Y1,247)
= Exp(a + b × X1,247 – 2 × s)
= Exp(a + b × 1,812 – 2 × s)
= Exp(5.0550 + -0.0002 × 1,812 – 2 × 0.0698)
= Exp(4.4802)
= $88.25
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 8.39% per annum.
- CPK price at the close of July 25, 2024 was $117.81 and was higher than the top border of the primary price channel by $1.54 (1.33%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: October 2, 2023
End date: July 25, 2024
a = 3.3986
b = 0.0007
s = 0.0373
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0007) – 1
= 30.47%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0373) – 1
= 16.11%
October 2, 2023 calculations
Top border of price channel:
Exp(Y1,053)
= Exp(a + b × X1,053 + 2 × s)
= Exp(a + b × 1,529 + 2 × s)
= Exp(3.3986 + 0.0007 × 1,529 + 2 × 0.0373)
= Exp(4.5876)
= $98.25
Bottom border of price channel:
Exp(Y1,053)
= Exp(a + b × X1,053 – 2 × s)
= Exp(a + b × 1,529 – 2 × s)
= Exp(3.3986 + 0.0007 × 1,529 – 2 × 0.0373)
= Exp(4.4382)
= $84.62
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(3.3986 + 0.0007 × 1,826 + 2 × 0.0373)
= Exp(4.8040)
= $122.00
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.3986 + 0.0007 × 1,826 – 2 × 0.0373)
= Exp(4.6547)
= $105.07
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 30.47% per annum.
- CPK price at the close of July 25, 2024 was inside the secondary price channel.