Nucor Corp (NUE)
Nucor Corporation is a producer of steel and related products based in Charlotte, North Carolina.
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 22.26% per annum.
- NUE price at the close of July 25, 2024 was $157.02 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 46.15% per annum.
- NUE price at the close of July 25, 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 NUE 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: May 5, 2021
End date: July 25, 2024
a = 4.2288
b = 0.0006
s = 0.1009
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0006) – 1
= 22.26%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1009) – 1
= 49.71%
May 5, 2021 calculations
Top border of price channel:
Exp(Y447)
= Exp(a + b × X447 + 2 × s)
= Exp(a + b × 649 + 2 × s)
= Exp(4.2288 + 0.0006 × 649 + 2 × 0.1009)
= Exp(4.7879)
= $120.04
Bottom border of price channel:
Exp(Y447)
= Exp(a + b × X447 – 2 × s)
= Exp(a + b × 649 – 2 × s)
= Exp(4.2288 + 0.0006 × 649 – 2 × 0.1009)
= Exp(4.3843)
= $80.18
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(4.2288 + 0.0006 × 1,826 + 2 × 0.1009)
= Exp(5.4358)
= $229.49
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(4.2288 + 0.0006 × 1,826 – 2 × 0.1009)
= Exp(5.0323)
= $153.28
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 22.26% per annum.
- NUE price at the close of July 25, 2024 was $157.02 and was inside the primary price channel.
Secondary Trend
Start date: February 23, 2024
End date: July 25, 2024
a = 8.1244
b = -0.0017
s = 0.0437
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0017) – 1
= -46.15%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0437) – 1
= 19.10%
February 23, 2024 calculations
Top border of price channel:
Exp(Y1,152)
= Exp(a + b × X1,152 + 2 × s)
= Exp(a + b × 1,673 + 2 × s)
= Exp(8.1244 + -0.0017 × 1,673 + 2 × 0.0437)
= Exp(5.3750)
= $215.94
Bottom border of price channel:
Exp(Y1,152)
= Exp(a + b × X1,152 – 2 × s)
= Exp(a + b × 1,673 – 2 × s)
= Exp(8.1244 + -0.0017 × 1,673 – 2 × 0.0437)
= Exp(5.2002)
= $181.30
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(8.1244 + -0.0017 × 1,826 + 2 × 0.0437)
= Exp(5.1155)
= $166.59
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(8.1244 + -0.0017 × 1,826 – 2 × 0.0437)
= Exp(4.9407)
= $139.87
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 46.15% per annum.
- NUE price at the close of July 25, 2024 was inside the secondary price channel.