Stock Price Trends

Fox Corp Class B (FOX)

Fox Corporation is an American mass media company headquartered in New York City.

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 8.16% per annum.
  • FOX price at the close of May 17, 2024 was $30.53 and was inside the primary price channel.
  • The secondary trend is increasing.
  • The growth rate of the secondary trend is 96.30% per annum.
  • FOX price at the close of May 17, 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 FOX 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: March 2, 2021
End date: April 22, 2024

a = 3.7234

b = -0.0002

s = 0.0608

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × -0.0002) – 1
= -8.16%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0608) – 1
= 27.52%

March 2, 2021 calculations

Top border of price channel:

Exp(Y449)
= Exp(a + b × X449 + 2 × s)
= Exp(a + b × 652 + 2 × s)
= Exp(3.7234 + -0.0002 × 652 + 2 × 0.0608)
= Exp(3.6929)
= $40.16

Bottom border of price channel:

Exp(Y449)
= Exp(a + b × X449 – 2 × s)
= Exp(a + b × 652 – 2 × s)
= Exp(3.7234 + -0.0002 × 652 – 2 × 0.0608)
= Exp(3.4498)
= $31.49

April 22, 2024 calculations

Top border of price channel:

Exp(Y1,239)
= Exp(a + b × X1,239 + 2 × s)
= Exp(a + b × 1,799 + 2 × s)
= Exp(3.7234 + -0.0002 × 1,799 + 2 × 0.0608)
= Exp(3.4254)
= $30.74

Bottom border of price channel:

Exp(Y1,239)
= Exp(a + b × X1,239 – 2 × s)
= Exp(a + b × 1,799 – 2 × s)
= Exp(3.7234 + -0.0002 × 1,799 – 2 × 0.0608)
= Exp(3.1823)
= $24.10

Description

  • The primary trend is decreasing.
  • The decline rate of the primary trend is 8.16% per annum.
  • FOX price at the close of May 17, 2024 was $30.53 and was inside the primary price channel.

Secondary Trend

Start date: February 27, 2024
End date: May 17, 2024

a = 0.0463

b = 0.0018

s = 0.0173

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0018) – 1
= 96.30%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0173) – 1
= 7.15%

February 27, 2024 calculations

Top border of price channel:

Exp(Y1,201)
= Exp(a + b × X1,201 + 2 × s)
= Exp(a + b × 1,744 + 2 × s)
= Exp(0.0463 + 0.0018 × 1,744 + 2 × 0.0173)
= Exp(3.3034)
= $27.21

Bottom border of price channel:

Exp(Y1,201)
= Exp(a + b × X1,201 – 2 × s)
= Exp(a + b × 1,744 – 2 × s)
= Exp(0.0463 + 0.0018 × 1,744 – 2 × 0.0173)
= Exp(3.2344)
= $25.39

May 17, 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(0.0463 + 0.0018 × 1,824 + 2 × 0.0173)
= Exp(3.4513)
= $31.54

Bottom border of price channel:

Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(0.0463 + 0.0018 × 1,824 – 2 × 0.0173)
= Exp(3.3822)
= $29.44

Description

  • The secondary trend is increasing.
  • The growth rate of the secondary trend is 96.30% per annum.
  • FOX price at the close of May 17, 2024 was inside the secondary price channel.