# Cushman & Wakefield plc (CWK)

Cushman & Wakefield plc, provides commercial real estate services under the Cushman & Wakefield brand in the United States, Australia, the United Kingdom and internationally. The company is headquartered in Chicago, Illinois.

## 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 37.41% per annum.
- CWK price at the close of June 14, 2024 was $10.46 and was higher than the top border of the primary price channel by $2.54 (32.01%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 28.13% per annum.
- CWK price at the close of June 14, 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:

Y_{i} = α + β × X_{i} + ε_{i}

Top border of price channel:

Exp(Y_{i}) = Exp(a + b × X_{i} + 2 × s)

Bottom border of price channel:

Exp(Y_{i}) = Exp(a + b × X_{i} – 2 × s)

where:

i - observation number

Y_{i} - natural logarithm of CWK price

X_{i} - time index, 1 day interval

σ - standard deviation of ε_{i}

a - estimator of α

b - estimator of β

s - estimator of σ

Exp() - calculates the exponent of e

### Primary Trend

Start date: July 27, 2021

End date: December 12, 2023

a = 4.1373

b = -0.0013

s = 0.1371

Annual growth rate:

Exp(365 × b) – 1

= Exp(365 × -0.0013) – 1

= -37.41%

Price channel spread:

Exp(4 × s) – 1

= Exp(4 × 0.1371) – 1

= 73.06%

#### July 27, 2021 calculations

Top border of price channel:

Exp(Y_{532})

= Exp(a + b × X_{532} + 2 × s)

= Exp(a + b × 771 + 2 × s)

= Exp(4.1373 + -0.0013 × 771 + 2 × 0.1371)

= Exp(3.4217)

= $30.62

Bottom border of price channel:

Exp(Y_{532})

= Exp(a + b × X_{532} – 2 × s)

= Exp(a + b × 771 – 2 × s)

= Exp(4.1373 + -0.0013 × 771 – 2 × 0.1371)

= Exp(2.8732)

= $17.69

#### December 12, 2023 calculations

Top border of price channel:

Exp(Y_{1,131})

= Exp(a + b × X_{1,131} + 2 × s)

= Exp(a + b × 1,639 + 2 × s)

= Exp(4.1373 + -0.0013 × 1,639 + 2 × 0.1371)

= Exp(2.3073)

= $10.05

Bottom border of price channel:

Exp(Y_{1,131})

= Exp(a + b × X_{1,131} – 2 × s)

= Exp(a + b × 1,639 – 2 × s)

= Exp(4.1373 + -0.0013 × 1,639 – 2 × 0.1371)

= Exp(1.7589)

= $5.81

#### Description

- The primary trend is decreasing.
- The decline rate of the primary trend is 37.41% per annum.
- CWK price at the close of June 14, 2024 was $10.46 and was higher than the top border of the primary price channel by $2.54 (32.01%). This indicates a possible reversal in the primary trend direction.

### Secondary Trend

Start date: May 4, 2023

End date: June 14, 2024

a = 1.1143

b = 0.0007

s = 0.1065

Annual growth rate:

Exp(365 × b) – 1

= Exp(365 × 0.0007) – 1

= 28.13%

Price channel spread:

Exp(4 × s) – 1

= Exp(4 × 0.1065) – 1

= 53.14%

#### May 4, 2023 calculations

Top border of price channel:

Exp(Y_{978})

= Exp(a + b × X_{978} + 2 × s)

= Exp(a + b × 1,417 + 2 × s)

= Exp(1.1143 + 0.0007 × 1,417 + 2 × 0.1065)

= Exp(2.2897)

= $9.87

Bottom border of price channel:

Exp(Y_{978})

= Exp(a + b × X_{978} – 2 × s)

= Exp(a + b × 1,417 – 2 × s)

= Exp(1.1143 + 0.0007 × 1,417 – 2 × 0.1065)

= Exp(1.8635)

= $6.45

#### June 14, 2024 calculations

Top border of price channel:

Exp(Y_{1,258})

= Exp(a + b × X_{1,258} + 2 × s)

= Exp(a + b × 1,824 + 2 × s)

= Exp(1.1143 + 0.0007 × 1,824 + 2 × 0.1065)

= Exp(2.5660)

= $13.01

Bottom border of price channel:

Exp(Y_{1,258})

= Exp(a + b × X_{1,258} – 2 × s)

= Exp(a + b × 1,824 – 2 × s)

= Exp(1.1143 + 0.0007 × 1,824 – 2 × 0.1065)

= Exp(2.1399)

= $8.50

#### Description

- The secondary trend is increasing.
- The growth rate of the secondary trend is 28.13% per annum.
- CWK price at the close of June 14, 2024 was inside the secondary price channel.