Enhabit Inc. (EHAB)
Enhabit, Inc. provides home health and hospice services in the United States.
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 448.04% per annum.
- EHAB price at the close of May 17, 2024 was $8.25 and was lower than the bottom border of the primary price channel by $10.81 (56.73%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 8.83% per annum.
- EHAB price at the close of May 17, 2024 was lower than the bottom border of the secondary price channel by $0.11 (1.27%).
- 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 EHAB 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: October 3, 2023
End date: December 28, 2023
a = -0.1047
b = 0.0047
s = 0.0724
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0047) – 1
= 448.04%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0724) – 1
= 33.58%
October 3, 2023 calculations
Top border of price channel:
Exp(Y315)
= Exp(a + b × X315 + 2 × s)
= Exp(a + b × 459 + 2 × s)
= Exp(-0.1047 + 0.0047 × 459 + 2 × 0.0724)
= Exp(2.1793)
= $8.84
Bottom border of price channel:
Exp(Y315)
= Exp(a + b × X315 – 2 × s)
= Exp(a + b × 459 – 2 × s)
= Exp(-0.1047 + 0.0047 × 459 – 2 × 0.0724)
= Exp(1.8898)
= $6.62
December 28, 2023 calculations
Top border of price channel:
Exp(Y375)
= Exp(a + b × X375 + 2 × s)
= Exp(a + b × 545 + 2 × s)
= Exp(-0.1047 + 0.0047 × 545 + 2 × 0.0724)
= Exp(2.5802)
= $13.20
Bottom border of price channel:
Exp(Y375)
= Exp(a + b × X375 – 2 × s)
= Exp(a + b × 545 – 2 × s)
= Exp(-0.1047 + 0.0047 × 545 – 2 × 0.0724)
= Exp(2.2906)
= $9.88
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 448.04% per annum.
- EHAB price at the close of May 17, 2024 was $8.25 and was lower than the bottom border of the primary price channel by $10.81 (56.73%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: November 8, 2023
End date: May 17, 2024
a = 2.4618
b = -0.0003
s = 0.0825
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0003) – 1
= -8.83%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0825) – 1
= 39.08%
November 8, 2023 calculations
Top border of price channel:
Exp(Y341)
= Exp(a + b × X341 + 2 × s)
= Exp(a + b × 495 + 2 × s)
= Exp(2.4618 + -0.0003 × 495 + 2 × 0.0825)
= Exp(2.5013)
= $12.20
Bottom border of price channel:
Exp(Y341)
= Exp(a + b × X341 – 2 × s)
= Exp(a + b × 495 – 2 × s)
= Exp(2.4618 + -0.0003 × 495 – 2 × 0.0825)
= Exp(2.1714)
= $8.77
May 17, 2024 calculations
Top border of price channel:
Exp(Y472)
= Exp(a + b × X472 + 2 × s)
= Exp(a + b × 686 + 2 × s)
= Exp(2.4618 + -0.0003 × 686 + 2 × 0.0825)
= Exp(2.4529)
= $11.62
Bottom border of price channel:
Exp(Y472)
= Exp(a + b × X472 – 2 × s)
= Exp(a + b × 686 – 2 × s)
= Exp(2.4618 + -0.0003 × 686 – 2 × 0.0825)
= Exp(2.1230)
= $8.36
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 8.83% per annum.
- EHAB price at the close of May 17, 2024 was lower than the bottom border of the secondary price channel by $0.11 (1.27%).