Tenet Healthcare Corporation (THC)
Tenet Healthcare Corporation is a diversified health services company. The company is headquartered in Dallas, Texas.
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 282.63% per annum.
- THC price at the close of July 26, 2024 was $151.63 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 19.46% per annum.
- THC price at the close of July 26, 2024 was higher than the top border of the secondary price channel by $9.41 (6.62%).
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 THC 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: October 11, 2023
End date: July 3, 2024
a = -1.6404
b = 0.0037
s = 0.0602
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0037) – 1
= 282.63%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0602) – 1
= 27.22%
October 11, 2023 calculations
Top border of price channel:
Exp(Y1,059)
= Exp(a + b × X1,059 + 2 × s)
= Exp(a + b × 1,535 + 2 × s)
= Exp(-1.6404 + 0.0037 × 1,535 + 2 × 0.0602)
= Exp(4.1233)
= $61.76
Bottom border of price channel:
Exp(Y1,059)
= Exp(a + b × X1,059 – 2 × s)
= Exp(a + b × 1,535 – 2 × s)
= Exp(-1.6404 + 0.0037 × 1,535 – 2 × 0.0602)
= Exp(3.8826)
= $48.55
July 3, 2024 calculations
Top border of price channel:
Exp(Y1,241)
= Exp(a + b × X1,241 + 2 × s)
= Exp(a + b × 1,801 + 2 × s)
= Exp(-1.6404 + 0.0037 × 1,801 + 2 × 0.0602)
= Exp(5.1013)
= $164.23
Bottom border of price channel:
Exp(Y1,241)
= Exp(a + b × X1,241 – 2 × s)
= Exp(a + b × 1,801 – 2 × s)
= Exp(-1.6404 + 0.0037 × 1,801 – 2 × 0.0602)
= Exp(4.8606)
= $129.10
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 282.63% per annum.
- THC price at the close of July 26, 2024 was $151.63 and was inside the primary price channel.
Secondary Trend
Start date: May 9, 2024
End date: July 23, 2024
a = 4.0230
b = 0.0005
s = 0.0228
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0005) – 1
= 19.46%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0228) – 1
= 9.55%
May 9, 2024 calculations
Top border of price channel:
Exp(Y1,204)
= Exp(a + b × X1,204 + 2 × s)
= Exp(a + b × 1,746 + 2 × s)
= Exp(4.0230 + 0.0005 × 1,746 + 2 × 0.0228)
= Exp(4.9194)
= $136.91
Bottom border of price channel:
Exp(Y1,204)
= Exp(a + b × X1,204 – 2 × s)
= Exp(a + b × 1,746 – 2 × s)
= Exp(4.0230 + 0.0005 × 1,746 – 2 × 0.0228)
= Exp(4.8281)
= $124.97
July 23, 2024 calculations
Top border of price channel:
Exp(Y1,254)
= Exp(a + b × X1,254 + 2 × s)
= Exp(a + b × 1,821 + 2 × s)
= Exp(4.0230 + 0.0005 × 1,821 + 2 × 0.0228)
= Exp(4.9559)
= $142.01
Bottom border of price channel:
Exp(Y1,254)
= Exp(a + b × X1,254 – 2 × s)
= Exp(a + b × 1,821 – 2 × s)
= Exp(4.0230 + 0.0005 × 1,821 – 2 × 0.0228)
= Exp(4.8646)
= $129.62
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 19.46% per annum.
- THC price at the close of July 26, 2024 was higher than the top border of the secondary price channel by $9.41 (6.62%).