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 May 7, 2024 was $52.24 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 3.06% per annum.
- ENOV price at the close of May 7, 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 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 = 4.7652
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(Y450)
= Exp(a + b × X450 + 2 × s)
= Exp(a + b × 653 + 2 × s)
= Exp(4.7652 + -0.0005 × 653 + 2 × 0.1056)
= Exp(4.6349)
= $103.02
Bottom border of price channel:
Exp(Y450)
= Exp(a + b × X450 – 2 × s)
= Exp(a + b × 653 – 2 × s)
= Exp(4.7652 + -0.0005 × 653 – 2 × 0.1056)
= Exp(4.2126)
= $67.53
December 18, 2023 calculations
Top border of price channel:
Exp(Y1,162)
= Exp(a + b × X1,162 + 2 × s)
= Exp(a + b × 1,685 + 2 × s)
= Exp(4.7652 + -0.0005 × 1,685 + 2 × 0.1056)
= Exp(4.0952)
= $60.05
Bottom border of price channel:
Exp(Y1,162)
= Exp(a + b × X1,162 – 2 × s)
= Exp(a + b × 1,685 – 2 × s)
= Exp(4.7652 + -0.0005 × 1,685 – 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 May 7, 2024 was $52.24 and was inside the primary price channel.
Secondary Trend
Start date: June 16, 2022
End date: May 2, 2024
a = 3.8925
b = 0.0001
s = 0.0878
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0001) – 1
= 3.06%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0878) – 1
= 42.05%
June 16, 2022 calculations
Top border of price channel:
Exp(Y784)
= Exp(a + b × X784 + 2 × s)
= Exp(a + b × 1,135 + 2 × s)
= Exp(3.8925 + 0.0001 × 1,135 + 2 × 0.0878)
= Exp(4.1617)
= $64.18
Bottom border of price channel:
Exp(Y784)
= Exp(a + b × X784 – 2 × s)
= Exp(a + b × 1,135 – 2 × s)
= Exp(3.8925 + 0.0001 × 1,135 – 2 × 0.0878)
= Exp(3.8107)
= $45.18
May 2, 2024 calculations
Top border of price channel:
Exp(Y1,255)
= Exp(a + b × X1,255 + 2 × s)
= Exp(a + b × 1,821 + 2 × s)
= Exp(3.8925 + 0.0001 × 1,821 + 2 × 0.0878)
= Exp(4.2183)
= $67.92
Bottom border of price channel:
Exp(Y1,255)
= Exp(a + b × X1,255 – 2 × s)
= Exp(a + b × 1,821 – 2 × s)
= Exp(3.8925 + 0.0001 × 1,821 – 2 × 0.0878)
= Exp(3.8673)
= $47.81
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 3.06% per annum.
- ENOV price at the close of May 7, 2024 was inside the secondary price channel.