The TJX Companies Inc (TJX)
The TJX Companies, Inc. (abbreviated TJX) is an American multinational off-price department store corporation, headquartered in Framingham, Massachusetts.
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 31.45% per annum.
- TJX price at the close of July 26, 2024 was $111.83 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 125.22% per annum.
- TJX price at the close of July 26, 2024 was lower than the bottom border of the secondary price channel by $0.71 (0.63%). 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 TJX 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: March 4, 2022
End date: July 26, 2024
a = 3.3268
b = 0.0007
s = 0.0510
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0007) – 1
= 31.45%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0510) – 1
= 22.62%
March 4, 2022 calculations
Top border of price channel:
Exp(Y656)
= Exp(a + b × X656 + 2 × s)
= Exp(a + b × 949 + 2 × s)
= Exp(3.3268 + 0.0007 × 949 + 2 × 0.0510)
= Exp(4.1398)
= $62.79
Bottom border of price channel:
Exp(Y656)
= Exp(a + b × X656 – 2 × s)
= Exp(a + b × 949 – 2 × s)
= Exp(3.3268 + 0.0007 × 949 – 2 × 0.0510)
= Exp(3.9359)
= $51.21
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(3.3268 + 0.0007 × 1,824 + 2 × 0.0510)
= Exp(4.7954)
= $120.95
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(3.3268 + 0.0007 × 1,824 – 2 × 0.0510)
= Exp(4.5914)
= $98.64
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 31.45% per annum.
- TJX price at the close of July 26, 2024 was $111.83 and was inside the primary price channel.
Secondary Trend
Start date: April 12, 2024
End date: July 26, 2024
a = 0.7017
b = 0.0022
s = 0.0178
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0022) – 1
= 125.22%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0178) – 1
= 7.40%
April 12, 2024 calculations
Top border of price channel:
Exp(Y1,185)
= Exp(a + b × X1,185 + 2 × s)
= Exp(a + b × 1,719 + 2 × s)
= Exp(0.7017 + 0.0022 × 1,719 + 2 × 0.0178)
= Exp(4.5611)
= $95.69
Bottom border of price channel:
Exp(Y1,185)
= Exp(a + b × X1,185 – 2 × s)
= Exp(a + b × 1,719 – 2 × s)
= Exp(0.7017 + 0.0022 × 1,719 – 2 × 0.0178)
= Exp(4.4898)
= $89.10
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(0.7017 + 0.0022 × 1,824 + 2 × 0.0178)
= Exp(4.7947)
= $120.87
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(0.7017 + 0.0022 × 1,824 – 2 × 0.0178)
= Exp(4.7233)
= $112.54
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 125.22% per annum.
- TJX price at the close of July 26, 2024 was lower than the bottom border of the secondary price channel by $0.71 (0.63%). This indicates a possible reversal in the secondary trend direction.