# Kirby Corporation (KEX)

Kirby Corporation operates domestic tank barges in the United States. The company is headquartered in Houston, Texas.

## 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 124.93% per annum.
• KEX price at the close of August 7, 2024 was \$111.42 and was lower than the bottom border of the primary price channel by \$6.02 (5.13%). This indicates a possible reversal in the primary trend direction.
• The secondary trend is increasing.
• The growth rate of the secondary trend is 9.41% per annum.
• KEX price at the close of August 7, 2024 was lower than the bottom border of the secondary price channel by \$6.00 (5.11%). This indicates a possible reversal in the secondary trend direction.

### 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 KEX 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: October 27, 2023
End date: July 31, 2024

a = 0.8147

b = 0.0022

s = 0.0520

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0022) – 1
= 124.93%

Exp(4 × s) – 1
= Exp(4 × 0.0520) – 1
= 23.10%

#### October 27, 2023 calculations

Top border of price channel:

Exp(Y1,063)
= Exp(a + b × X1,063 + 2 × s)
= Exp(a + b × 1,541 + 2 × s)
= Exp(0.8147 + 0.0022 × 1,541 + 2 × 0.0520)
= Exp(4.3408)
= \$76.77

Bottom border of price channel:

Exp(Y1,063)
= Exp(a + b × X1,063 – 2 × s)
= Exp(a + b × 1,541 – 2 × s)
= Exp(0.8147 + 0.0022 × 1,541 – 2 × 0.0520)
= Exp(4.1330)
= \$62.36

#### July 31, 2024 calculations

Top border of price channel:

Exp(Y1,252)
= Exp(a + b × X1,252 + 2 × s)
= Exp(a + b × 1,819 + 2 × s)
= Exp(0.8147 + 0.0022 × 1,819 + 2 × 0.0520)
= Exp(4.9582)
= \$142.34

Bottom border of price channel:

Exp(Y1,252)
= Exp(a + b × X1,252 – 2 × s)
= Exp(a + b × 1,819 – 2 × s)
= Exp(0.8147 + 0.0022 × 1,819 – 2 × 0.0520)
= Exp(4.7504)
= \$115.63

#### Description

• The primary trend is increasing.
• The growth rate of the primary trend is 124.93% per annum.
• KEX price at the close of August 7, 2024 was \$111.42 and was lower than the bottom border of the primary price channel by \$6.02 (5.13%). This indicates a possible reversal in the primary trend direction.

### Secondary Trend

Start date: May 17, 2024
End date: July 31, 2024

a = 4.3536

b = 0.0002

s = 0.0190

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0002) – 1
= 9.41%

Exp(4 × s) – 1
= Exp(4 × 0.0190) – 1
= 7.88%

#### May 17, 2024 calculations

Top border of price channel:

Exp(Y1,202)
= Exp(a + b × X1,202 + 2 × s)
= Exp(a + b × 1,744 + 2 × s)
= Exp(4.3536 + 0.0002 × 1,744 + 2 × 0.0190)
= Exp(4.8213)
= \$124.13

Bottom border of price channel:

Exp(Y1,202)
= Exp(a + b × X1,202 – 2 × s)
= Exp(a + b × 1,744 – 2 × s)
= Exp(4.3536 + 0.0002 × 1,744 – 2 × 0.0190)
= Exp(4.7455)
= \$115.07

#### July 31, 2024 calculations

Top border of price channel:

Exp(Y1,252)
= Exp(a + b × X1,252 + 2 × s)
= Exp(a + b × 1,819 + 2 × s)
= Exp(4.3536 + 0.0002 × 1,819 + 2 × 0.0190)
= Exp(4.8398)
= \$126.44

Bottom border of price channel:

Exp(Y1,252)
= Exp(a + b × X1,252 – 2 × s)
= Exp(a + b × 1,819 – 2 × s)
= Exp(4.3536 + 0.0002 × 1,819 – 2 × 0.0190)
= Exp(4.7640)
= \$117.21

#### Description

• The secondary trend is increasing.
• The growth rate of the secondary trend is 9.41% per annum.
• KEX price at the close of August 7, 2024 was lower than the bottom border of the secondary price channel by \$6.00 (5.11%). This indicates a possible reversal in the secondary trend direction.