Fortrea Holdings Inc. (FTRE)
Fortrea Holdings Inc. provides clinical development and patient access solutions to the life sciences industry. The company is headquartered in Durham, North Carolina.
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 51.70% per annum.
- FTRE price at the close of May 8, 2024 was $35.50 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 11.36% per annum.
- FTRE price at the close of May 8, 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 FTRE 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 14, 2024
End date: May 8, 2024
a = 4.1956
b = -0.0020
s = 0.0242
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0020) – 1
= -51.70%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0242) – 1
= 10.18%
March 14, 2024 calculations
Top border of price channel:
Exp(Y173)
= Exp(a + b × X173 + 2 × s)
= Exp(a + b × 251 + 2 × s)
= Exp(4.1956 + -0.0020 × 251 + 2 × 0.0242)
= Exp(3.7436)
= $42.25
Bottom border of price channel:
Exp(Y173)
= Exp(a + b × X173 – 2 × s)
= Exp(a + b × 251 – 2 × s)
= Exp(4.1956 + -0.0020 × 251 – 2 × 0.0242)
= Exp(3.6467)
= $38.35
May 8, 2024 calculations
Top border of price channel:
Exp(Y211)
= Exp(a + b × X211 + 2 × s)
= Exp(a + b × 306 + 2 × s)
= Exp(4.1956 + -0.0020 × 306 + 2 × 0.0242)
= Exp(3.6339)
= $37.86
Bottom border of price channel:
Exp(Y211)
= Exp(a + b × X211 – 2 × s)
= Exp(a + b × 306 – 2 × s)
= Exp(4.1956 + -0.0020 × 306 – 2 × 0.0242)
= Exp(3.5370)
= $34.36
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 51.70% per annum.
- FTRE price at the close of May 8, 2024 was $35.50 and was inside the primary price channel.
Secondary Trend
Start date: April 16, 2024
End date: May 8, 2024
a = 3.5109
b = 0.0003
s = 0.0179
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0003) – 1
= 11.36%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0179) – 1
= 7.42%
April 16, 2024 calculations
Top border of price channel:
Exp(Y195)
= Exp(a + b × X195 + 2 × s)
= Exp(a + b × 284 + 2 × s)
= Exp(3.5109 + 0.0003 × 284 + 2 × 0.0179)
= Exp(3.6304)
= $37.73
Bottom border of price channel:
Exp(Y195)
= Exp(a + b × X195 – 2 × s)
= Exp(a + b × 284 – 2 × s)
= Exp(3.5109 + 0.0003 × 284 – 2 × 0.0179)
= Exp(3.5588)
= $35.12
May 8, 2024 calculations
Top border of price channel:
Exp(Y211)
= Exp(a + b × X211 + 2 × s)
= Exp(a + b × 306 + 2 × s)
= Exp(3.5109 + 0.0003 × 306 + 2 × 0.0179)
= Exp(3.6369)
= $37.97
Bottom border of price channel:
Exp(Y211)
= Exp(a + b × X211 – 2 × s)
= Exp(a + b × 306 – 2 × s)
= Exp(3.5109 + 0.0003 × 306 – 2 × 0.0179)
= Exp(3.5653)
= $35.35
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 11.36% per annum.
- FTRE price at the close of May 8, 2024 was inside the secondary price channel.