Dayforce Inc. (DAY)
Dayforce Inc., is a human capital management (HCM) software company in the United States, Canada, and internationally. The company is headquartered in Minneapolis, Minnesota.
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 155.67% per annum.
- DAY price at the close of January 17, 2025 was $69.62 and was lower than the bottom border of the primary price channel by $5.64 (7.49%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 66.51% per annum.
- DAY price at the close of January 17, 2025 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 DAY 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: May 30, 2024
End date: December 27, 2024
a = -0.2555
b = 0.0026
s = 0.0560
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0026) – 1
= 155.67%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0560) – 1
= 25.12%
May 30, 2024 calculations
Top border of price channel:
Exp(Y1,097)
= Exp(a + b × X1,097 + 2 × s)
= Exp(a + b × 1,591 + 2 × s)
= Exp(-0.2555 + 0.0026 × 1,591 + 2 × 0.0560)
= Exp(3.9483)
= $51.85
Bottom border of price channel:
Exp(Y1,097)
= Exp(a + b × X1,097 – 2 × s)
= Exp(a + b × 1,591 – 2 × s)
= Exp(-0.2555 + 0.0026 × 1,591 – 2 × 0.0560)
= Exp(3.7242)
= $41.44
December 27, 2024 calculations
Top border of price channel:
Exp(Y1,243)
= Exp(a + b × X1,243 + 2 × s)
= Exp(a + b × 1,802 + 2 × s)
= Exp(-0.2555 + 0.0026 × 1,802 + 2 × 0.0560)
= Exp(4.4910)
= $89.21
Bottom border of price channel:
Exp(Y1,243)
= Exp(a + b × X1,243 – 2 × s)
= Exp(a + b × 1,802 – 2 × s)
= Exp(-0.2555 + 0.0026 × 1,802 – 2 × 0.0560)
= Exp(4.2669)
= $71.30
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 155.67% per annum.
- DAY price at the close of January 17, 2025 was $69.62 and was lower than the bottom border of the primary price channel by $5.64 (7.49%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: November 25, 2024
End date: January 17, 2025
a = 9.7033
b = -0.0030
s = 0.0135
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0030) – 1
= -66.51%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0135) – 1
= 5.57%
November 25, 2024 calculations
Top border of price channel:
Exp(Y1,221)
= Exp(a + b × X1,221 + 2 × s)
= Exp(a + b × 1,770 + 2 × s)
= Exp(9.7033 + -0.0030 × 1,770 + 2 × 0.0135)
= Exp(4.4252)
= $83.53
Bottom border of price channel:
Exp(Y1,221)
= Exp(a + b × X1,221 – 2 × s)
= Exp(a + b × 1,770 – 2 × s)
= Exp(9.7033 + -0.0030 × 1,770 – 2 × 0.0135)
= Exp(4.3710)
= $79.12
January 17, 2025 calculations
Top border of price channel:
Exp(Y1,256)
= Exp(a + b × X1,256 + 2 × s)
= Exp(a + b × 1,823 + 2 × s)
= Exp(9.7033 + -0.0030 × 1,823 + 2 × 0.0135)
= Exp(4.2663)
= $71.26
Bottom border of price channel:
Exp(Y1,256)
= Exp(a + b × X1,256 – 2 × s)
= Exp(a + b × 1,823 – 2 × s)
= Exp(9.7033 + -0.0030 × 1,823 – 2 × 0.0135)
= Exp(4.2122)
= $67.50
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 66.51% per annum.
- DAY price at the close of January 17, 2025 was inside the secondary price channel.