Tegna Inc (TGNA)
TEGNA Inc. is a media company in the United States. The company is headquartered in Tysons, Virginia.
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 18.41% per annum.
- TGNA price at the close of July 26, 2024 was $16.24 and was higher than the top border of the primary price channel by $1.51 (10.28%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 8.86% per annum.
- TGNA price at the close of July 26, 2024 was higher than the top border of the secondary price channel by $0.79 (5.13%). 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 TGNA 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 4, 2022
End date: July 10, 2024
a = 3.5917
b = -0.0006
s = 0.0574
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0006) – 1
= -18.41%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0574) – 1
= 25.82%
February 4, 2022 calculations
Top border of price channel:
Exp(Y637)
= Exp(a + b × X637 + 2 × s)
= Exp(a + b × 921 + 2 × s)
= Exp(3.5917 + -0.0006 × 921 + 2 × 0.0574)
= Exp(3.1931)
= $24.36
Bottom border of price channel:
Exp(Y637)
= Exp(a + b × X637 – 2 × s)
= Exp(a + b × 921 – 2 × s)
= Exp(3.5917 + -0.0006 × 921 – 2 × 0.0574)
= Exp(2.9634)
= $19.36
July 10, 2024 calculations
Top border of price channel:
Exp(Y1,245)
= Exp(a + b × X1,245 + 2 × s)
= Exp(a + b × 1,808 + 2 × s)
= Exp(3.5917 + -0.0006 × 1,808 + 2 × 0.0574)
= Exp(2.6986)
= $14.86
Bottom border of price channel:
Exp(Y1,245)
= Exp(a + b × X1,245 – 2 × s)
= Exp(a + b × 1,808 – 2 × s)
= Exp(3.5917 + -0.0006 × 1,808 – 2 × 0.0574)
= Exp(2.4689)
= $11.81
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 18.41% per annum.
- TGNA price at the close of July 26, 2024 was $16.24 and was higher than the top border of the primary price channel by $1.51 (10.28%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: March 1, 2023
End date: July 26, 2024
a = 3.1042
b = -0.0003
s = 0.0484
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0003) – 1
= -8.86%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0484) – 1
= 21.37%
March 1, 2023 calculations
Top border of price channel:
Exp(Y904)
= Exp(a + b × X904 + 2 × s)
= Exp(a + b × 1,311 + 2 × s)
= Exp(3.1042 + -0.0003 × 1,311 + 2 × 0.0484)
= Exp(2.8679)
= $17.60
Bottom border of price channel:
Exp(Y904)
= Exp(a + b × X904 – 2 × s)
= Exp(a + b × 1,311 – 2 × s)
= Exp(3.1042 + -0.0003 × 1,311 – 2 × 0.0484)
= Exp(2.6742)
= $14.50
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(3.1042 + -0.0003 × 1,824 + 2 × 0.0484)
= Exp(2.7375)
= $15.45
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(3.1042 + -0.0003 × 1,824 – 2 × 0.0484)
= Exp(2.5438)
= $12.73
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 8.86% per annum.
- TGNA price at the close of July 26, 2024 was higher than the top border of the secondary price channel by $0.79 (5.13%). This indicates a possible reversal in the secondary trend direction.