O-I Glass Inc (OI)
OI Glass, Inc. manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and Asia Pacific. The company is headquartered in Perrysburg, 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 37.45% per annum.
- OI price at the close of July 25, 2024 was $11.29 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 70.40% per annum.
- OI 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 OI 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 1, 2023
End date: July 25, 2024
a = 4.8392
b = -0.0013
s = 0.0865
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0013) – 1
= -37.45%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0865) – 1
= 41.35%
February 1, 2023 calculations
Top border of price channel:
Exp(Y886)
= Exp(a + b × X886 + 2 × s)
= Exp(a + b × 1,286 + 2 × s)
= Exp(4.8392 + -0.0013 × 1,286 + 2 × 0.0865)
= Exp(3.3594)
= $28.77
Bottom border of price channel:
Exp(Y886)
= Exp(a + b × X886 – 2 × s)
= Exp(a + b × 1,286 – 2 × s)
= Exp(4.8392 + -0.0013 × 1,286 – 2 × 0.0865)
= Exp(3.0133)
= $20.35
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(4.8392 + -0.0013 × 1,826 + 2 × 0.0865)
= Exp(2.6653)
= $14.37
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(4.8392 + -0.0013 × 1,826 – 2 × 0.0865)
= Exp(2.3192)
= $10.17
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 37.45% per annum.
- OI price at the close of July 25, 2024 was $11.29 and was inside the primary price channel.
Secondary Trend
Start date: February 21, 2024
End date: July 25, 2024
a = 8.4412
b = -0.0033
s = 0.0480
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0033) – 1
= -70.40%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0480) – 1
= 21.19%
February 21, 2024 calculations
Top border of price channel:
Exp(Y1,150)
= Exp(a + b × X1,150 + 2 × s)
= Exp(a + b × 1,671 + 2 × s)
= Exp(8.4412 + -0.0033 × 1,671 + 2 × 0.0480)
= Exp(2.9644)
= $19.38
Bottom border of price channel:
Exp(Y1,150)
= Exp(a + b × X1,150 – 2 × s)
= Exp(a + b × 1,671 – 2 × s)
= Exp(8.4412 + -0.0033 × 1,671 – 2 × 0.0480)
= Exp(2.7722)
= $15.99
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(8.4412 + -0.0033 × 1,826 + 2 × 0.0480)
= Exp(2.4475)
= $11.56
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(8.4412 + -0.0033 × 1,826 – 2 × 0.0480)
= Exp(2.2553)
= $9.54
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 70.40% per annum.
- OI price at the close of July 25, 2024 was inside the secondary price channel.