Stock Price Trends

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:
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 CWK 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: 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(Y532)
= Exp(a + b × X532 + 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(Y532)
= Exp(a + b × X532 – 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(Y1,131)
= Exp(a + b × X1,131 + 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(Y1,131)
= Exp(a + b × X1,131 – 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(Y978)
= Exp(a + b × X978 + 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(Y978)
= Exp(a + b × X978 – 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(Y1,258)
= Exp(a + b × X1,258 + 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(Y1,258)
= Exp(a + b × X1,258 – 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.