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 19.78% per annum.
- TECH price at the close of May 10, 2024 was $80.91 and was higher than the top border of the primary price channel by $5.50 (7.29%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 12.05% per annum.
- TECH price at the close of May 10, 2024 was higher than the top border of the secondary price channel by $1.54 (1.94%). This indicates a possible reversal in the secondary trend direction.
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: June 4, 2021
End date: April 30, 2024
a = 5.2353
b = -0.0006
s = 0.0947
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0006) – 1
= -19.78%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0947) – 1
= 46.03%
June 4, 2021 calculations
Top border of price channel:
Exp(Y520)
= Exp(a + b × X520 + 2 × s)
= Exp(a + b × 753 + 2 × s)
= Exp(5.2353 + -0.0006 × 753 + 2 × 0.0947)
= Exp(4.9699)
= $144.01
Bottom border of price channel:
Exp(Y520)
= Exp(a + b × X520 – 2 × s)
= Exp(a + b × 753 – 2 × s)
= Exp(5.2353 + -0.0006 × 753 – 2 × 0.0947)
= Exp(4.5912)
= $98.62
April 30, 2024 calculations
Top border of price channel:
Exp(Y1,250)
= Exp(a + b × X1,250 + 2 × s)
= Exp(a + b × 1,814 + 2 × s)
= Exp(5.2353 + -0.0006 × 1,814 + 2 × 0.0947)
= Exp(4.3290)
= $75.87
Bottom border of price channel:
Exp(Y1,250)
= Exp(a + b × X1,250 – 2 × s)
= Exp(a + b × 1,814 – 2 × s)
= Exp(5.2353 + -0.0006 × 1,814 – 2 × 0.0947)
= Exp(3.9504)
= $51.96
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 19.78% per annum.
- TECH price at the close of May 10, 2024 was $80.91 and was higher than the top border of the primary price channel by $5.50 (7.29%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: May 9, 2022
End date: May 10, 2024
a = 4.8514
b = -0.0004
s = 0.0822
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0004) – 1
= -12.05%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0822) – 1
= 38.92%
May 9, 2022 calculations
Top border of price channel:
Exp(Y754)
= Exp(a + b × X754 + 2 × s)
= Exp(a + b × 1,092 + 2 × s)
= Exp(4.8514 + -0.0004 × 1,092 + 2 × 0.0822)
= Exp(4.6316)
= $102.68
Bottom border of price channel:
Exp(Y754)
= Exp(a + b × X754 – 2 × s)
= Exp(a + b × 1,092 – 2 × s)
= Exp(4.8514 + -0.0004 × 1,092 – 2 × 0.0822)
= Exp(4.3028)
= $73.91
May 10, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(4.8514 + -0.0004 × 1,824 + 2 × 0.0822)
= Exp(4.3741)
= $79.37
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(4.8514 + -0.0004 × 1,824 – 2 × 0.0822)
= Exp(4.0453)
= $57.13
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 12.05% per annum.
- TECH price at the close of May 10, 2024 was higher than the top border of the secondary price channel by $1.54 (1.94%). This indicates a possible reversal in the secondary trend direction.