Stock Price Trends

HealthEquity Inc (HQY)

HealthEquity, Inc. provides technology-enabled service platforms to consumers and employers in the United States. The company is headquartered in Draper, Utah.

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 40.90% per annum.
  • HQY price at the close of May 9, 2024 was $77.45 and was inside the primary price channel.
  • The secondary trend is decreasing.
  • The decline rate of the secondary trend is 16.50% per annum.
  • HQY 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 HQY 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 13, 2023
End date: May 8, 2024

a = 2.7067

b = 0.0009

s = 0.0546

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0009) – 1
= 40.90%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0546) – 1
= 24.39%

March 13, 2023 calculations

Top border of price channel:

Exp(Y966)
= Exp(a + b × X966 + 2 × s)
= Exp(a + b × 1,403 + 2 × s)
= Exp(2.7067 + 0.0009 × 1,403 + 2 × 0.0546)
= Exp(4.1339)
= $62.42

Bottom border of price channel:

Exp(Y966)
= Exp(a + b × X966 – 2 × s)
= Exp(a + b × 1,403 – 2 × s)
= Exp(2.7067 + 0.0009 × 1,403 – 2 × 0.0546)
= Exp(3.9156)
= $50.18

May 8, 2024 calculations

Top border of price channel:

Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,825 + 2 × s)
= Exp(2.7067 + 0.0009 × 1,825 + 2 × 0.0546)
= Exp(4.5303)
= $92.79

Bottom border of price channel:

Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,825 – 2 × s)
= Exp(2.7067 + 0.0009 × 1,825 – 2 × 0.0546)
= Exp(4.3121)
= $74.60

Description

  • The primary trend is increasing.
  • The growth rate of the primary trend is 40.90% per annum.
  • HQY price at the close of May 9, 2024 was $77.45 and was inside the primary price channel.

Secondary Trend

Start date: February 15, 2024
End date: May 9, 2024

a = 5.2727

b = -0.0005

s = 0.0135

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × -0.0005) – 1
= -16.50%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0135) – 1
= 5.53%

February 15, 2024 calculations

Top border of price channel:

Exp(Y1,200)
= Exp(a + b × X1,200 + 2 × s)
= Exp(a + b × 1,742 + 2 × s)
= Exp(5.2727 + -0.0005 × 1,742 + 2 × 0.0135)
= Exp(4.4390)
= $84.69

Bottom border of price channel:

Exp(Y1,200)
= Exp(a + b × X1,200 – 2 × s)
= Exp(a + b × 1,742 – 2 × s)
= Exp(5.2727 + -0.0005 × 1,742 – 2 × 0.0135)
= Exp(4.3852)
= $80.26

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(5.2727 + -0.0005 × 1,826 + 2 × 0.0135)
= Exp(4.3975)
= $81.25

Bottom border of price channel:

Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(5.2727 + -0.0005 × 1,826 – 2 × 0.0135)
= Exp(4.3437)
= $76.99

Description

  • The secondary trend is decreasing.
  • The decline rate of the secondary trend is 16.50% per annum.
  • HQY price at the close of May 9, 2024 was inside the secondary price channel.