Public Service Enterprise Group Inc (PEG)
The Public Service Enterprise Group (PSEG) is a publicly traded diversified energy company headquartered in Newark, New Jersey.
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 111.58% per annum.
- PEG price at the close of July 25, 2024 was $74.24 and was lower than the bottom border of the primary price channel by $5.03 (6.34%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 13.63% per annum.
- PEG 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 PEG 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: January 16, 2024
End date: June 11, 2024
a = 0.6652
b = 0.0021
s = 0.0208
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0021) – 1
= 111.58%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0208) – 1
= 8.68%
January 16, 2024 calculations
Top border of price channel:
Exp(Y1,125)
= Exp(a + b × X1,125 + 2 × s)
= Exp(a + b × 1,635 + 2 × s)
= Exp(0.6652 + 0.0021 × 1,635 + 2 × 0.0208)
= Exp(4.0639)
= $58.20
Bottom border of price channel:
Exp(Y1,125)
= Exp(a + b × X1,125 – 2 × s)
= Exp(a + b × 1,635 – 2 × s)
= Exp(0.6652 + 0.0021 × 1,635 – 2 × 0.0208)
= Exp(3.9807)
= $53.55
June 11, 2024 calculations
Top border of price channel:
Exp(Y1,227)
= Exp(a + b × X1,227 + 2 × s)
= Exp(a + b × 1,782 + 2 × s)
= Exp(0.6652 + 0.0021 × 1,782 + 2 × 0.0208)
= Exp(4.3657)
= $78.70
Bottom border of price channel:
Exp(Y1,227)
= Exp(a + b × X1,227 – 2 × s)
= Exp(a + b × 1,782 – 2 × s)
= Exp(0.6652 + 0.0021 × 1,782 – 2 × 0.0208)
= Exp(4.2825)
= $72.42
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 111.58% per annum.
- PEG price at the close of July 25, 2024 was $74.24 and was lower than the bottom border of the primary price channel by $5.03 (6.34%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: May 8, 2024
End date: July 25, 2024
a = 3.6781
b = 0.0004
s = 0.0111
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0004) – 1
= 13.63%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0111) – 1
= 4.53%
May 8, 2024 calculations
Top border of price channel:
Exp(Y1,204)
= Exp(a + b × X1,204 + 2 × s)
= Exp(a + b × 1,748 + 2 × s)
= Exp(3.6781 + 0.0004 × 1,748 + 2 × 0.0111)
= Exp(4.3121)
= $74.60
Bottom border of price channel:
Exp(Y1,204)
= Exp(a + b × X1,204 – 2 × s)
= Exp(a + b × 1,748 – 2 × s)
= Exp(3.6781 + 0.0004 × 1,748 – 2 × 0.0111)
= Exp(4.2678)
= $71.37
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(3.6781 + 0.0004 × 1,826 + 2 × 0.0111)
= Exp(4.3394)
= $76.66
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.6781 + 0.0004 × 1,826 – 2 × 0.0111)
= Exp(4.2951)
= $73.34
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 13.63% per annum.
- PEG price at the close of July 25, 2024 was inside the secondary price channel.