Halliburton Company (HAL)
Halliburton Company is an American multinational corporation. One of the world's largest oil field service companies, it has operations in more than 70 countries.
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 8.17% per annum.
- HAL price at the close of May 9, 2024 was $37.48 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 69.31% per annum.
- HAL price at the close of May 9, 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 HAL 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: January 25, 2022
End date: May 9, 2024
a = 3.2394
b = 0.0002
s = 0.1145
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0002) – 1
= 8.17%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1145) – 1
= 58.10%
January 25, 2022 calculations
Top border of price channel:
Exp(Y683)
= Exp(a + b × X683 + 2 × s)
= Exp(a + b × 991 + 2 × s)
= Exp(3.2394 + 0.0002 × 991 + 2 × 0.1145)
= Exp(3.6817)
= $39.71
Bottom border of price channel:
Exp(Y683)
= Exp(a + b × X683 – 2 × s)
= Exp(a + b × 991 – 2 × s)
= Exp(3.2394 + 0.0002 × 991 – 2 × 0.1145)
= Exp(3.2236)
= $25.12
May 9, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(3.2394 + 0.0002 × 1,826 + 2 × 0.1145)
= Exp(3.8614)
= $47.53
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.2394 + 0.0002 × 1,826 – 2 × 0.1145)
= Exp(3.4034)
= $30.07
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 8.17% per annum.
- HAL price at the close of May 9, 2024 was $37.48 and was inside the primary price channel.
Secondary Trend
Start date: April 3, 2024
End date: May 9, 2024
a = 9.5097
b = -0.0032
s = 0.0170
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0032) – 1
= -69.31%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0170) – 1
= 7.04%
April 3, 2024 calculations
Top border of price channel:
Exp(Y1,232)
= Exp(a + b × X1,232 + 2 × s)
= Exp(a + b × 1,790 + 2 × s)
= Exp(9.5097 + -0.0032 × 1,790 + 2 × 0.0170)
= Exp(3.7507)
= $42.55
Bottom border of price channel:
Exp(Y1,232)
= Exp(a + b × X1,232 – 2 × s)
= Exp(a + b × 1,790 – 2 × s)
= Exp(9.5097 + -0.0032 × 1,790 – 2 × 0.0170)
= Exp(3.6826)
= $39.75
May 9, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(9.5097 + -0.0032 × 1,826 + 2 × 0.0170)
= Exp(3.6341)
= $37.87
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(9.5097 + -0.0032 × 1,826 – 2 × 0.0170)
= Exp(3.5661)
= $35.38
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 69.31% per annum.
- HAL price at the close of May 9, 2024 was inside the secondary price channel.