Bio-Techne Corp (TECH)
Bio-Techne Corporation develops, manufactures, and sells life science reagents, instruments, and services for the global clinical diagnostic and research markets. The company is headquartered in Minneapolis, Minnesota.
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 18.59% per annum.
- TECH price at the close of July 25, 2024 was $78.67 and was higher than the top border of the primary price channel by $4.80 (6.50%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 25.15% per annum.
- TECH 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 TECH 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: April 13, 2021
End date: April 30, 2024
a = 5.1349
b = -0.0006
s = 0.0982
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0006) – 1
= -18.59%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0982) – 1
= 48.09%
April 13, 2021 calculations
Top border of price channel:
Exp(Y431)
= Exp(a + b × X431 + 2 × s)
= Exp(a + b × 627 + 2 × s)
= Exp(5.1349 + -0.0006 × 627 + 2 × 0.0982)
= Exp(4.9779)
= $145.17
Bottom border of price channel:
Exp(Y431)
= Exp(a + b × X431 – 2 × s)
= Exp(a + b × 627 – 2 × s)
= Exp(5.1349 + -0.0006 × 627 – 2 × 0.0982)
= Exp(4.5852)
= $98.03
April 30, 2024 calculations
Top border of price channel:
Exp(Y1,198)
= Exp(a + b × X1,198 + 2 × s)
= Exp(a + b × 1,740 + 2 × s)
= Exp(5.1349 + -0.0006 × 1,740 + 2 × 0.0982)
= Exp(4.3507)
= $77.53
Bottom border of price channel:
Exp(Y1,198)
= Exp(a + b × X1,198 – 2 × s)
= Exp(a + b × 1,740 – 2 × s)
= Exp(5.1349 + -0.0006 × 1,740 – 2 × 0.0982)
= Exp(3.9581)
= $52.36
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 18.59% per annum.
- TECH price at the close of July 25, 2024 was $78.67 and was higher than the top border of the primary price channel by $4.80 (6.50%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: September 22, 2023
End date: July 25, 2024
a = 3.2244
b = 0.0006
s = 0.0744
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0006) – 1
= 25.15%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0744) – 1
= 34.65%
September 22, 2023 calculations
Top border of price channel:
Exp(Y1,047)
= Exp(a + b × X1,047 + 2 × s)
= Exp(a + b × 1,519 + 2 × s)
= Exp(3.2244 + 0.0006 × 1,519 + 2 × 0.0744)
= Exp(4.3068)
= $74.20
Bottom border of price channel:
Exp(Y1,047)
= Exp(a + b × X1,047 – 2 × s)
= Exp(a + b × 1,519 – 2 × s)
= Exp(3.2244 + 0.0006 × 1,519 – 2 × 0.0744)
= Exp(4.0093)
= $55.11
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(3.2244 + 0.0006 × 1,826 + 2 × 0.0744)
= Exp(4.4955)
= $89.62
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.2244 + 0.0006 × 1,826 – 2 × 0.0744)
= Exp(4.1980)
= $66.55
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 25.15% per annum.
- TECH price at the close of July 25, 2024 was inside the secondary price channel.