Stock Price Trends

Worthington Steel Inc (WS)

Worthington Steel, Inc. is a steel processor in North America. The company is headquartered in Columbus, Ohio.

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 79.87% per annum.
  • WS price at the close of April 2, 2025 was $25.90 and was inside the primary price channel.
  • The secondary trend is decreasing.
  • The decline rate of the secondary trend is 56.75% per annum.
  • WS price at the close of April 2, 2025 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 WS 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: November 6, 2024
End date: April 2, 2025

a = 5.3094

b = -0.0044

s = 0.0767

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × -0.0044) – 1
= -79.87%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0767) – 1
= 35.93%

November 6, 2024 calculations

Top border of price channel:

Exp(Y237)
= Exp(a + b × X237 + 2 × s)
= Exp(a + b × 344 + 2 × s)
= Exp(5.3094 + -0.0044 × 344 + 2 × 0.0767)
= Exp(3.9522)
= $52.05

Bottom border of price channel:

Exp(Y237)
= Exp(a + b × X237 – 2 × s)
= Exp(a + b × 344 – 2 × s)
= Exp(5.3094 + -0.0044 × 344 – 2 × 0.0767)
= Exp(3.6453)
= $38.29

April 2, 2025 calculations

Top border of price channel:

Exp(Y336)
= Exp(a + b × X336 + 2 × s)
= Exp(a + b × 491 + 2 × s)
= Exp(5.3094 + -0.0044 × 491 + 2 × 0.0767)
= Exp(3.3067)
= $27.29

Bottom border of price channel:

Exp(Y336)
= Exp(a + b × X336 – 2 × s)
= Exp(a + b × 491 – 2 × s)
= Exp(5.3094 + -0.0044 × 491 – 2 × 0.0767)
= Exp(2.9997)
= $20.08

Description

  • The primary trend is decreasing.
  • The decline rate of the primary trend is 79.87% per annum.
  • WS price at the close of April 2, 2025 was $25.90 and was inside the primary price channel.

Secondary Trend

Start date: December 19, 2024
End date: April 2, 2025

a = 4.3580

b = -0.0023

s = 0.0292

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × -0.0023) – 1
= -56.75%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0292) – 1
= 12.39%

December 19, 2024 calculations

Top border of price channel:

Exp(Y267)
= Exp(a + b × X267 + 2 × s)
= Exp(a + b × 387 + 2 × s)
= Exp(4.3580 + -0.0023 × 387 + 2 × 0.0292)
= Exp(3.5277)
= $34.05

Bottom border of price channel:

Exp(Y267)
= Exp(a + b × X267 – 2 × s)
= Exp(a + b × 387 – 2 × s)
= Exp(4.3580 + -0.0023 × 387 – 2 × 0.0292)
= Exp(3.4109)
= $30.29

April 2, 2025 calculations

Top border of price channel:

Exp(Y336)
= Exp(a + b × X336 + 2 × s)
= Exp(a + b × 491 + 2 × s)
= Exp(4.3580 + -0.0023 × 491 + 2 × 0.0292)
= Exp(3.2889)
= $26.81

Bottom border of price channel:

Exp(Y336)
= Exp(a + b × X336 – 2 × s)
= Exp(a + b × 491 – 2 × s)
= Exp(4.3580 + -0.0023 × 491 – 2 × 0.0292)
= Exp(3.1721)
= $23.86

Description

  • The secondary trend is decreasing.
  • The decline rate of the secondary trend is 56.75% per annum.
  • WS price at the close of April 2, 2025 was inside the secondary price channel.