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 31.93% per annum.
- TJX price at the close of May 8, 2024 was $98.50 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 22.00% per annum.
- TJX price at the close of May 8, 2024 was inside the secondary price channel.
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: April 11, 2024
a = 3.2574
b = 0.0008
s = 0.0510
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0008) – 1
= 31.93%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0510) – 1
= 22.63%
March 4, 2022 calculations
Top border of price channel:
Exp(Y711)
= Exp(a + b × X711 + 2 × s)
= Exp(a + b × 1,030 + 2 × s)
= Exp(3.2574 + 0.0008 × 1,030 + 2 × 0.0510)
= Exp(4.1414)
= $62.89
Bottom border of price channel:
Exp(Y711)
= Exp(a + b × X711 – 2 × s)
= Exp(a + b × 1,030 – 2 × s)
= Exp(3.2574 + 0.0008 × 1,030 – 2 × 0.0510)
= Exp(3.9374)
= $51.28
April 11, 2024 calculations
Top border of price channel:
Exp(Y1,239)
= Exp(a + b × X1,239 + 2 × s)
= Exp(a + b × 1,799 + 2 × s)
= Exp(3.2574 + 0.0008 × 1,799 + 2 × 0.0510)
= Exp(4.7252)
= $112.76
Bottom border of price channel:
Exp(Y1,239)
= Exp(a + b × X1,239 – 2 × s)
= Exp(a + b × 1,799 – 2 × s)
= Exp(3.2574 + 0.0008 × 1,799 – 2 × 0.0510)
= Exp(4.5212)
= $91.95
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 31.93% per annum.
- TJX price at the close of May 8, 2024 was $98.50 and was inside the primary price channel.
Secondary Trend
Start date: November 10, 2022
End date: May 8, 2024
a = 3.5989
b = 0.0005
s = 0.0357
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0005) – 1
= 22.00%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0357) – 1
= 15.34%
November 10, 2022 calculations
Top border of price channel:
Exp(Y885)
= Exp(a + b × X885 + 2 × s)
= Exp(a + b × 1,281 + 2 × s)
= Exp(3.5989 + 0.0005 × 1,281 + 2 × 0.0357)
= Exp(4.3681)
= $78.89
Bottom border of price channel:
Exp(Y885)
= Exp(a + b × X885 – 2 × s)
= Exp(a + b × 1,281 – 2 × s)
= Exp(3.5989 + 0.0005 × 1,281 – 2 × 0.0357)
= Exp(4.2254)
= $68.40
May 8, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(3.5989 + 0.0005 × 1,826 + 2 × 0.0357)
= Exp(4.6650)
= $106.17
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.5989 + 0.0005 × 1,826 – 2 × 0.0357)
= Exp(4.5223)
= $92.05
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 22.00% per annum.
- TJX price at the close of May 8, 2024 was inside the secondary price channel.