Myers Industries Inc (MYE)
Myers Industries, Inc. manufactures and sells polymeric products for the industrial, agricultural, automotive, commercial, and consumer markets in the United States and internationally. The company is headquartered in Akron, Ohio.
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 2.58% per annum.
- MYE price at the close of July 25, 2024 was $14.62 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 83.55% per annum.
- MYE price at the close of July 25, 2024 was inside the secondary price channel.
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 MYE 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: December 24, 2020
End date: July 25, 2024
a = 3.0272
b = -0.0001
s = 0.1104
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0001) – 1
= -2.58%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1104) – 1
= 55.53%
December 24, 2020 calculations
Top border of price channel:
Exp(Y358)
= Exp(a + b × X358 + 2 × s)
= Exp(a + b × 517 + 2 × s)
= Exp(3.0272 + -0.0001 × 517 + 2 × 0.1104)
= Exp(3.2110)
= $24.80
Bottom border of price channel:
Exp(Y358)
= Exp(a + b × X358 – 2 × s)
= Exp(a + b × 517 – 2 × s)
= Exp(3.0272 + -0.0001 × 517 – 2 × 0.1104)
= Exp(2.7693)
= $15.95
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(3.0272 + -0.0001 × 1,826 + 2 × 0.1104)
= Exp(3.1171)
= $22.58
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.0272 + -0.0001 × 1,826 – 2 × 0.1104)
= Exp(2.6754)
= $14.52
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 2.58% per annum.
- MYE price at the close of July 25, 2024 was $14.62 and was inside the primary price channel.
Secondary Trend
Start date: March 19, 2024
End date: July 25, 2024
a = 11.5587
b = -0.0049
s = 0.0829
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0049) – 1
= -83.55%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0829) – 1
= 39.29%
March 19, 2024 calculations
Top border of price channel:
Exp(Y1,169)
= Exp(a + b × X1,169 + 2 × s)
= Exp(a + b × 1,698 + 2 × s)
= Exp(11.5587 + -0.0049 × 1,698 + 2 × 0.0829)
= Exp(3.3277)
= $27.87
Bottom border of price channel:
Exp(Y1,169)
= Exp(a + b × X1,169 – 2 × s)
= Exp(a + b × 1,698 – 2 × s)
= Exp(11.5587 + -0.0049 × 1,698 – 2 × 0.0829)
= Exp(2.9962)
= $20.01
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(11.5587 + -0.0049 × 1,826 + 2 × 0.0829)
= Exp(2.6947)
= $14.80
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(11.5587 + -0.0049 × 1,826 – 2 × 0.0829)
= Exp(2.3633)
= $10.63
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 83.55% per annum.
- MYE price at the close of July 25, 2024 was inside the secondary price channel.