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 78.21% per annum.
  • WS price at the close of April 24, 2025 was $25.75 and was higher than the top border of the primary price channel by $0.41 (1.62%). This indicates a possible reversal in the primary trend direction.
  • The secondary trend is decreasing.
  • The decline rate of the secondary trend is 59.14% per annum.
  • WS price at the close of April 24, 2025 was higher than the top border of the secondary price channel by $0.40 (1.57%). 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 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 22, 2025

a = 5.2231

b = -0.0042

s = 0.0752

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × -0.0042) – 1
= -78.21%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0752) – 1
= 35.11%

November 6, 2024 calculations

Top border of price channel:

Exp(Y237)
= Exp(a + b × X237 + 2 × s)
= Exp(a + b × 344 + 2 × s)
= Exp(5.2231 + -0.0042 × 344 + 2 × 0.0752)
= Exp(3.9377)
= $51.30

Bottom border of price channel:

Exp(Y237)
= Exp(a + b × X237 – 2 × s)
= Exp(a + b × 344 – 2 × s)
= Exp(5.2231 + -0.0042 × 344 – 2 × 0.0752)
= Exp(3.6368)
= $37.97

April 22, 2025 calculations

Top border of price channel:

Exp(Y349)
= Exp(a + b × X349 + 2 × s)
= Exp(a + b × 511 + 2 × s)
= Exp(5.2231 + -0.0042 × 511 + 2 × 0.0752)
= Exp(3.2407)
= $25.55

Bottom border of price channel:

Exp(Y349)
= Exp(a + b × X349 – 2 × s)
= Exp(a + b × 511 – 2 × s)
= Exp(5.2231 + -0.0042 × 511 – 2 × 0.0752)
= Exp(2.9397)
= $18.91

Description

  • The primary trend is decreasing.
  • The decline rate of the primary trend is 78.21% per annum.
  • WS price at the close of April 24, 2025 was $25.75 and was higher than the top border of the primary price channel by $0.41 (1.62%). This indicates a possible reversal in the primary trend direction.

Secondary Trend

Start date: December 19, 2024
End date: April 24, 2025

a = 4.4235

b = -0.0025

s = 0.0337

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × -0.0025) – 1
= -59.14%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0337) – 1
= 14.42%

December 19, 2024 calculations

Top border of price channel:

Exp(Y267)
= Exp(a + b × X267 + 2 × s)
= Exp(a + b × 387 + 2 × s)
= Exp(4.4235 + -0.0025 × 387 + 2 × 0.0337)
= Exp(3.5418)
= $34.53

Bottom border of price channel:

Exp(Y267)
= Exp(a + b × X267 – 2 × s)
= Exp(a + b × 387 – 2 × s)
= Exp(4.4235 + -0.0025 × 387 – 2 × 0.0337)
= Exp(3.4072)
= $30.18

April 24, 2025 calculations

Top border of price channel:

Exp(Y351)
= Exp(a + b × X351 + 2 × s)
= Exp(a + b × 513 + 2 × s)
= Exp(4.4235 + -0.0025 × 513 + 2 × 0.0337)
= Exp(3.2329)
= $25.35

Bottom border of price channel:

Exp(Y351)
= Exp(a + b × X351 – 2 × s)
= Exp(a + b × 513 – 2 × s)
= Exp(4.4235 + -0.0025 × 513 – 2 × 0.0337)
= Exp(3.0982)
= $22.16

Description

  • The secondary trend is decreasing.
  • The decline rate of the secondary trend is 59.14% per annum.
  • WS price at the close of April 24, 2025 was higher than the top border of the secondary price channel by $0.40 (1.57%). This indicates a possible reversal in the secondary trend direction.