Cytek Biosciences Inc (CTKB)
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 71.58% per annum.
- CTKB price at the close of May 8, 2024 was $6.27 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 2,322.86% per annum.
- CTKB price at the close of May 8, 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 CTKB 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: December 15, 2023
End date: May 3, 2024
a = 5.2813
b = -0.0034
s = 0.0661
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0034) – 1
= -71.58%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0661) – 1
= 30.28%
December 15, 2023 calculations
Top border of price channel:
Exp(Y604)
= Exp(a + b × X604 + 2 × s)
= Exp(a + b × 875 + 2 × s)
= Exp(5.2813 + -0.0034 × 875 + 2 × 0.0661)
= Exp(2.3980)
= $11.00
Bottom border of price channel:
Exp(Y604)
= Exp(a + b × X604 – 2 × s)
= Exp(a + b × 875 – 2 × s)
= Exp(5.2813 + -0.0034 × 875 – 2 × 0.0661)
= Exp(2.1335)
= $8.44
May 3, 2024 calculations
Top border of price channel:
Exp(Y699)
= Exp(a + b × X699 + 2 × s)
= Exp(a + b × 1,015 + 2 × s)
= Exp(5.2813 + -0.0034 × 1,015 + 2 × 0.0661)
= Exp(1.9155)
= $6.79
Bottom border of price channel:
Exp(Y699)
= Exp(a + b × X699 – 2 × s)
= Exp(a + b × 1,015 – 2 × s)
= Exp(5.2813 + -0.0034 × 1,015 – 2 × 0.0661)
= Exp(1.6510)
= $5.21
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 71.58% per annum.
- CTKB price at the close of May 8, 2024 was $6.27 and was inside the primary price channel.
Secondary Trend
Start date: April 22, 2024
End date: May 7, 2024
a = -7.0343
b = 0.0087
s = 0.0208
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0087) – 1
= 2,322.86%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0208) – 1
= 8.68%
April 22, 2024 calculations
Top border of price channel:
Exp(Y690)
= Exp(a + b × X690 + 2 × s)
= Exp(a + b × 1,004 + 2 × s)
= Exp(-7.0343 + 0.0087 × 1,004 + 2 × 0.0208)
= Exp(1.7752)
= $5.90
Bottom border of price channel:
Exp(Y690)
= Exp(a + b × X690 – 2 × s)
= Exp(a + b × 1,004 – 2 × s)
= Exp(-7.0343 + 0.0087 × 1,004 – 2 × 0.0208)
= Exp(1.6920)
= $5.43
May 7, 2024 calculations
Top border of price channel:
Exp(Y701)
= Exp(a + b × X701 + 2 × s)
= Exp(a + b × 1,019 + 2 × s)
= Exp(-7.0343 + 0.0087 × 1,019 + 2 × 0.0208)
= Exp(1.9062)
= $6.73
Bottom border of price channel:
Exp(Y701)
= Exp(a + b × X701 – 2 × s)
= Exp(a + b × 1,019 – 2 × s)
= Exp(-7.0343 + 0.0087 × 1,019 – 2 × 0.0208)
= Exp(1.8230)
= $6.19
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 2,322.86% per annum.
- CTKB price at the close of May 8, 2024 was inside the secondary price channel.