Stock Price Trends

NetApp Inc (NTAP)

NetApp, Inc. is an American hybrid cloud data services and data management company headquartered in Sunnyvale, California. Founded in 1992 with an IPO in 1995, NetApp offers cloud data services for management of applications and data both online and physically.

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 69.14% per annum.
  • NTAP price at the close of July 26, 2024 was $126.15 and was inside the primary price channel.
  • The secondary trend is increasing.
  • The growth rate of the secondary trend is 134.88% per annum.
  • NTAP price at the close of July 26, 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 NTAP 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: February 27, 2023
End date: July 26, 2024

a = 2.1687

b = 0.0014

s = 0.0633

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0014) – 1
= 69.14%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0633) – 1
= 28.80%

February 27, 2023 calculations

Top border of price channel:

Exp(Y902)
= Exp(a + b × X902 + 2 × s)
= Exp(a + b × 1,309 + 2 × s)
= Exp(2.1687 + 0.0014 × 1,309 + 2 × 0.0633)
= Exp(4.1802)
= $65.38

Bottom border of price channel:

Exp(Y902)
= Exp(a + b × X902 – 2 × s)
= Exp(a + b × 1,309 – 2 × s)
= Exp(2.1687 + 0.0014 × 1,309 – 2 × 0.0633)
= Exp(3.9271)
= $50.76

July 26, 2024 calculations

Top border of price channel:

Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(2.1687 + 0.0014 × 1,824 + 2 × 0.0633)
= Exp(4.9218)
= $137.24

Bottom border of price channel:

Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(2.1687 + 0.0014 × 1,824 – 2 × 0.0633)
= Exp(4.6687)
= $106.56

Description

  • The primary trend is increasing.
  • The growth rate of the primary trend is 69.14% per annum.
  • NTAP price at the close of July 26, 2024 was $126.15 and was inside the primary price channel.

Secondary Trend

Start date: January 2, 2024
End date: July 26, 2024

a = 0.6227

b = 0.0023

s = 0.0425

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0023) – 1
= 134.88%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0425) – 1
= 18.53%

January 2, 2024 calculations

Top border of price channel:

Exp(Y1,115)
= Exp(a + b × X1,115 + 2 × s)
= Exp(a + b × 1,618 + 2 × s)
= Exp(0.6227 + 0.0023 × 1,618 + 2 × 0.0425)
= Exp(4.4929)
= $89.38

Bottom border of price channel:

Exp(Y1,115)
= Exp(a + b × X1,115 – 2 × s)
= Exp(a + b × 1,618 – 2 × s)
= Exp(0.6227 + 0.0023 × 1,618 – 2 × 0.0425)
= Exp(4.3229)
= $75.41

July 26, 2024 calculations

Top border of price channel:

Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(0.6227 + 0.0023 × 1,824 + 2 × 0.0425)
= Exp(4.9748)
= $144.72

Bottom border of price channel:

Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(0.6227 + 0.0023 × 1,824 – 2 × 0.0425)
= Exp(4.8048)
= $122.10

Description

  • The secondary trend is increasing.
  • The growth rate of the secondary trend is 134.88% per annum.
  • NTAP price at the close of July 26, 2024 was inside the secondary price channel.