Stock Price Trends

NeoGenomics Inc (NEO)

NeoGenomics, Inc. operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. The company is headquartered in Fort Myers, Florida.

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 46.73% per annum.
  • NEO price at the close of May 13, 2024 was $15.63 and was inside the primary price channel.
  • The secondary trend is decreasing.
  • The decline rate of the secondary trend is 8.33% per annum.
  • NEO price at the close of May 13, 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 NEO 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: April 22, 2022
End date: April 9, 2024

a = 1.0444

b = 0.0011

s = 0.1853

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0011) – 1
= 46.73%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.1853) – 1
= 109.84%

April 22, 2022 calculations

Top border of price channel:

Exp(Y742)
= Exp(a + b × X742 + 2 × s)
= Exp(a + b × 1,074 + 2 × s)
= Exp(1.0444 + 0.0011 × 1,074 + 2 × 0.1853)
= Exp(2.5432)
= $12.72

Bottom border of price channel:

Exp(Y742)
= Exp(a + b × X742 – 2 × s)
= Exp(a + b × 1,074 – 2 × s)
= Exp(1.0444 + 0.0011 × 1,074 – 2 × 0.1853)
= Exp(1.8021)
= $6.06

April 9, 2024 calculations

Top border of price channel:

Exp(Y1,234)
= Exp(a + b × X1,234 + 2 × s)
= Exp(a + b × 1,792 + 2 × s)
= Exp(1.0444 + 0.0011 × 1,792 + 2 × 0.1853)
= Exp(3.2975)
= $27.05

Bottom border of price channel:

Exp(Y1,234)
= Exp(a + b × X1,234 – 2 × s)
= Exp(a + b × 1,792 – 2 × s)
= Exp(1.0444 + 0.0011 × 1,792 – 2 × 0.1853)
= Exp(2.5564)
= $12.89

Description

  • The primary trend is increasing.
  • The growth rate of the primary trend is 46.73% per annum.
  • NEO price at the close of May 13, 2024 was $15.63 and was inside the primary price channel.

Secondary Trend

Start date: February 23, 2023
End date: May 13, 2024

a = 3.1366

b = -0.0002

s = 0.1170

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × -0.0002) – 1
= -8.33%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.1170) – 1
= 59.70%

February 23, 2023 calculations

Top border of price channel:

Exp(Y952)
= Exp(a + b × X952 + 2 × s)
= Exp(a + b × 1,381 + 2 × s)
= Exp(3.1366 + -0.0002 × 1,381 + 2 × 0.1170)
= Exp(3.0416)
= $20.94

Bottom border of price channel:

Exp(Y952)
= Exp(a + b × X952 – 2 × s)
= Exp(a + b × 1,381 – 2 × s)
= Exp(3.1366 + -0.0002 × 1,381 – 2 × 0.1170)
= Exp(2.5734)
= $13.11

May 13, 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(3.1366 + -0.0002 × 1,826 + 2 × 0.1170)
= Exp(2.9355)
= $18.83

Bottom border of price channel:

Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.1366 + -0.0002 × 1,826 – 2 × 0.1170)
= Exp(2.4674)
= $11.79

Description

  • The secondary trend is decreasing.
  • The decline rate of the secondary trend is 8.33% per annum.
  • NEO price at the close of May 13, 2024 was inside the secondary price channel.