# 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 increasing.
- The growth rate of the primary trend is 67.73% per annum.
- CWK price at the close of September 12, 2024 was $12.81 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 38.95% per annum.
- CWK price at the close of September 12, 2024 was inside the secondary price channel.

### 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: September 13, 2023

End date: September 12, 2024

a = -0.0325

b = 0.0014

s = 0.0857

Annual growth rate:

Exp(365 × b) – 1

= Exp(365 × 0.0014) – 1

= 67.73%

Price channel spread:

Exp(4 × s) – 1

= Exp(4 × 0.0857) – 1

= 40.89%

#### September 13, 2023 calculations

Top border of price channel:

Exp(Y_{1,006})

= Exp(a + b × X_{1,006} + 2 × s)

= Exp(a + b × 1,461 + 2 × s)

= Exp(-0.0325 + 0.0014 × 1,461 + 2 × 0.0857)

= Exp(2.2091)

= $9.11

Bottom border of price channel:

Exp(Y_{1,006})

= Exp(a + b × X_{1,006} – 2 × s)

= Exp(a + b × 1,461 – 2 × s)

= Exp(-0.0325 + 0.0014 × 1,461 – 2 × 0.0857)

= Exp(1.8662)

= $6.46

#### September 12, 2024 calculations

Top border of price channel:

Exp(Y_{1,257})

= Exp(a + b × X_{1,257} + 2 × s)

= Exp(a + b × 1,826 + 2 × s)

= Exp(-0.0325 + 0.0014 × 1,826 + 2 × 0.0857)

= Exp(2.7262)

= $15.28

Bottom border of price channel:

Exp(Y_{1,257})

= Exp(a + b × X_{1,257} – 2 × s)

= Exp(a + b × 1,826 – 2 × s)

= Exp(-0.0325 + 0.0014 × 1,826 – 2 × 0.0857)

= Exp(2.3834)

= $10.84

#### Description

- The primary trend is increasing.
- The growth rate of the primary trend is 67.73% per annum.
- CWK price at the close of September 12, 2024 was $12.81 and was inside the primary price channel.

### Secondary Trend

Start date: December 13, 2023

End date: September 12, 2024

a = 0.8562

b = 0.0009

s = 0.0712

Annual growth rate:

Exp(365 × b) – 1

= Exp(365 × 0.0009) – 1

= 38.95%

Price channel spread:

Exp(4 × s) – 1

= Exp(4 × 0.0712) – 1

= 32.92%

#### December 13, 2023 calculations

Top border of price channel:

Exp(Y_{1,070})

= Exp(a + b × X_{1,070} + 2 × s)

= Exp(a + b × 1,552 + 2 × s)

= Exp(0.8562 + 0.0009 × 1,552 + 2 × 0.0712)

= Exp(2.3972)

= $10.99

Bottom border of price channel:

Exp(Y_{1,070})

= Exp(a + b × X_{1,070} – 2 × s)

= Exp(a + b × 1,552 – 2 × s)

= Exp(0.8562 + 0.0009 × 1,552 – 2 × 0.0712)

= Exp(2.1126)

= $8.27

#### September 12, 2024 calculations

Top border of price channel:

Exp(Y_{1,257})

= Exp(a + b × X_{1,257} + 2 × s)

= Exp(a + b × 1,826 + 2 × s)

= Exp(0.8562 + 0.0009 × 1,826 + 2 × 0.0712)

= Exp(2.6442)

= $14.07

Bottom border of price channel:

Exp(Y_{1,257})

= Exp(a + b × X_{1,257} – 2 × s)

= Exp(a + b × 1,826 – 2 × s)

= Exp(0.8562 + 0.0009 × 1,826 – 2 × 0.0712)

= Exp(2.3595)

= $10.59

#### Description

- The secondary trend is increasing.
- The growth rate of the secondary trend is 38.95% per annum.
- CWK price at the close of September 12, 2024 was inside the secondary price channel.