MYR Group Inc (MYRG)
MYR Group Inc., provides electrical construction services in the United States and Canada. The company is headquartered in Henderson, Colorado.
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 3.87% per annum.
- MYRG price at the close of May 17, 2024 was $154.82 and was higher than the top border of the primary price channel by $29.98 (24.01%).
- The secondary trend is increasing.
- The growth rate of the secondary trend is 40.79% per annum.
- MYRG price at the close of May 17, 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 MYRG 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 11, 2021
End date: February 22, 2023
a = 4.4205
b = 0.0001
s = 0.1083
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0001) – 1
= 3.87%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1083) – 1
= 54.22%
March 11, 2021 calculations
Top border of price channel:
Exp(Y456)
= Exp(a + b × X456 + 2 × s)
= Exp(a + b × 661 + 2 × s)
= Exp(4.4205 + 0.0001 × 661 + 2 × 0.1083)
= Exp(4.7060)
= $110.60
Bottom border of price channel:
Exp(Y456)
= Exp(a + b × X456 – 2 × s)
= Exp(a + b × 661 – 2 × s)
= Exp(4.4205 + 0.0001 × 661 – 2 × 0.1083)
= Exp(4.2727)
= $71.72
February 22, 2023 calculations
Top border of price channel:
Exp(Y947)
= Exp(a + b × X947 + 2 × s)
= Exp(a + b × 1,374 + 2 × s)
= Exp(4.4205 + 0.0001 × 1,374 + 2 × 0.1083)
= Exp(4.7802)
= $119.13
Bottom border of price channel:
Exp(Y947)
= Exp(a + b × X947 – 2 × s)
= Exp(a + b × 1,374 – 2 × s)
= Exp(4.4205 + 0.0001 × 1,374 – 2 × 0.1083)
= Exp(4.3470)
= $77.24
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 3.87% per annum.
- MYRG price at the close of May 17, 2024 was $154.82 and was higher than the top border of the primary price channel by $29.98 (24.01%).
Secondary Trend
Start date: April 5, 2022
End date: May 17, 2024
a = 3.4098
b = 0.0009
s = 0.0868
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0009) – 1
= 40.79%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0868) – 1
= 41.53%
April 5, 2022 calculations
Top border of price channel:
Exp(Y726)
= Exp(a + b × X726 + 2 × s)
= Exp(a + b × 1,051 + 2 × s)
= Exp(3.4098 + 0.0009 × 1,051 + 2 × 0.0868)
= Exp(4.5685)
= $96.40
Bottom border of price channel:
Exp(Y726)
= Exp(a + b × X726 – 2 × s)
= Exp(a + b × 1,051 – 2 × s)
= Exp(3.4098 + 0.0009 × 1,051 – 2 × 0.0868)
= Exp(4.2212)
= $68.12
May 17, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(3.4098 + 0.0009 × 1,824 + 2 × 0.0868)
= Exp(5.2931)
= $198.95
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(3.4098 + 0.0009 × 1,824 – 2 × 0.0868)
= Exp(4.9457)
= $140.58
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 40.79% per annum.
- MYRG price at the close of May 17, 2024 was inside the secondary price channel.