# 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%

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%

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.