Enovis Corp (ENOV)
Enovis Corporation is a global medical technology company. The company is headquartered in Wilmington, Delaware.
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 17.38% per annum.
- ENOV price at the close of July 25, 2024 was $46.91 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 65.89% per annum.
- ENOV price at the close of July 25, 2024 was higher than the top border of the secondary price channel by $2.67 (6.03%). This indicates a possible reversal in the secondary trend direction.
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 ENOV 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: February 19, 2021
End date: December 18, 2023
a = 4.7239
b = -0.0005
s = 0.1056
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0005) – 1
= -17.38%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1056) – 1
= 52.56%
February 19, 2021 calculations
Top border of price channel:
Exp(Y395)
= Exp(a + b × X395 + 2 × s)
= Exp(a + b × 574 + 2 × s)
= Exp(4.7239 + -0.0005 × 574 + 2 × 0.1056)
= Exp(4.6349)
= $103.02
Bottom border of price channel:
Exp(Y395)
= Exp(a + b × X395 – 2 × s)
= Exp(a + b × 574 – 2 × s)
= Exp(4.7239 + -0.0005 × 574 – 2 × 0.1056)
= Exp(4.2126)
= $67.53
December 18, 2023 calculations
Top border of price channel:
Exp(Y1,107)
= Exp(a + b × X1,107 + 2 × s)
= Exp(a + b × 1,606 + 2 × s)
= Exp(4.7239 + -0.0005 × 1,606 + 2 × 0.1056)
= Exp(4.0952)
= $60.05
Bottom border of price channel:
Exp(Y1,107)
= Exp(a + b × X1,107 – 2 × s)
= Exp(a + b × 1,606 – 2 × s)
= Exp(4.7239 + -0.0005 × 1,606 – 2 × 0.1056)
= Exp(3.6729)
= $39.36
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 17.38% per annum.
- ENOV price at the close of July 25, 2024 was $46.91 and was inside the primary price channel.
Secondary Trend
Start date: February 22, 2024
End date: July 10, 2024
a = 9.1078
b = -0.0029
s = 0.0312
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0029) – 1
= -65.89%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0312) – 1
= 13.30%
February 22, 2024 calculations
Top border of price channel:
Exp(Y1,151)
= Exp(a + b × X1,151 + 2 × s)
= Exp(a + b × 1,672 + 2 × s)
= Exp(9.1078 + -0.0029 × 1,672 + 2 × 0.0312)
= Exp(4.2435)
= $69.65
Bottom border of price channel:
Exp(Y1,151)
= Exp(a + b × X1,151 – 2 × s)
= Exp(a + b × 1,672 – 2 × s)
= Exp(9.1078 + -0.0029 × 1,672 – 2 × 0.0312)
= Exp(4.1186)
= $61.48
July 10, 2024 calculations
Top border of price channel:
Exp(Y1,246)
= Exp(a + b × X1,246 + 2 × s)
= Exp(a + b × 1,811 + 2 × s)
= Exp(9.1078 + -0.0029 × 1,811 + 2 × 0.0312)
= Exp(3.8339)
= $46.24
Bottom border of price channel:
Exp(Y1,246)
= Exp(a + b × X1,246 – 2 × s)
= Exp(a + b × 1,811 – 2 × s)
= Exp(9.1078 + -0.0029 × 1,811 – 2 × 0.0312)
= Exp(3.7091)
= $40.82
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 65.89% per annum.
- ENOV price at the close of July 25, 2024 was higher than the top border of the secondary price channel by $2.67 (6.03%). This indicates a possible reversal in the secondary trend direction.