Pinnacle West Capital Corp (PNW)
Pinnacle West Capital is a utility holding company that owns Arizona Public Service and Bright Canyon Energy.
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 44.72% per annum.
- PNW price at the close of July 26, 2024 was $84.71 and was higher than the top border of the primary price channel by $0.10 (0.12%).
- The secondary trend is increasing.
- The growth rate of the secondary trend is 439.65% per annum.
- PNW 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 PNW 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: July 26, 2024
a = 2.5447
b = 0.0010
s = 0.0230
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0010) – 1
= 44.72%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0230) – 1
= 9.66%
January 16, 2024 calculations
Top border of price channel:
Exp(Y1,124)
= Exp(a + b × X1,124 + 2 × s)
= Exp(a + b × 1,632 + 2 × s)
= Exp(2.5447 + 0.0010 × 1,632 + 2 × 0.0230)
= Exp(4.2436)
= $69.66
Bottom border of price channel:
Exp(Y1,124)
= Exp(a + b × X1,124 – 2 × s)
= Exp(a + b × 1,632 – 2 × s)
= Exp(2.5447 + 0.0010 × 1,632 – 2 × 0.0230)
= Exp(4.1514)
= $63.52
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(2.5447 + 0.0010 × 1,824 + 2 × 0.0230)
= Exp(4.4380)
= $84.61
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(2.5447 + 0.0010 × 1,824 – 2 × 0.0230)
= Exp(4.3459)
= $77.16
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 44.72% per annum.
- PNW price at the close of July 26, 2024 was $84.71 and was higher than the top border of the primary price channel by $0.10 (0.12%).
Secondary Trend
Start date: July 1, 2024
End date: July 26, 2024
a = -3.9878
b = 0.0046
s = 0.0096
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0046) – 1
= 439.65%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0096) – 1
= 3.93%
July 1, 2024 calculations
Top border of price channel:
Exp(Y1,239)
= Exp(a + b × X1,239 + 2 × s)
= Exp(a + b × 1,799 + 2 × s)
= Exp(-3.9878 + 0.0046 × 1,799 + 2 × 0.0096)
= Exp(4.3401)
= $76.72
Bottom border of price channel:
Exp(Y1,239)
= Exp(a + b × X1,239 – 2 × s)
= Exp(a + b × 1,799 – 2 × s)
= Exp(-3.9878 + 0.0046 × 1,799 – 2 × 0.0096)
= Exp(4.3016)
= $73.82
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(-3.9878 + 0.0046 × 1,824 + 2 × 0.0096)
= Exp(4.4556)
= $86.10
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(-3.9878 + 0.0046 × 1,824 – 2 × 0.0096)
= Exp(4.4170)
= $82.85
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 439.65% per annum.
- PNW price at the close of July 26, 2024 was inside the secondary price channel.