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 increasing.
- The growth rate of the primary trend is 854.54% per annum.
- WS price at the close of December 3, 2024 was $44.71 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 3.99% per annum.
- WS price at the close of December 3, 2024 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
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: September 26, 2024
End date: December 2, 2024
a = 1.5751
b = 0.0062
s = 0.0454
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0062) – 1
= 854.54%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0454) – 1
= 19.91%
September 26, 2024 calculations
Top border of price channel:
Exp(Y208)
= Exp(a + b × X208 + 2 × s)
= Exp(a + b × 303 + 2 × s)
= Exp(1.5751 + 0.0062 × 303 + 2 × 0.0454)
= Exp(3.5387)
= $34.42
Bottom border of price channel:
Exp(Y208)
= Exp(a + b × X208 – 2 × s)
= Exp(a + b × 303 – 2 × s)
= Exp(1.5751 + 0.0062 × 303 – 2 × 0.0454)
= Exp(3.3571)
= $28.71
December 2, 2024 calculations
Top border of price channel:
Exp(Y254)
= Exp(a + b × X254 + 2 × s)
= Exp(a + b × 370 + 2 × s)
= Exp(1.5751 + 0.0062 × 370 + 2 × 0.0454)
= Exp(3.9528)
= $52.08
Bottom border of price channel:
Exp(Y254)
= Exp(a + b × X254 – 2 × s)
= Exp(a + b × 370 – 2 × s)
= Exp(1.5751 + 0.0062 × 370 – 2 × 0.0454)
= Exp(3.7712)
= $43.43
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 854.54% per annum.
- WS price at the close of December 3, 2024 was $44.71 and was inside the primary price channel.
Secondary Trend
Start date: November 6, 2024
End date: December 3, 2024
a = 3.8362
b = -0.0001
s = 0.0220
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0001) – 1
= -3.99%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0220) – 1
= 9.19%
November 6, 2024 calculations
Top border of price channel:
Exp(Y237)
= Exp(a + b × X237 + 2 × s)
= Exp(a + b × 344 + 2 × s)
= Exp(3.8362 + -0.0001 × 344 + 2 × 0.0220)
= Exp(3.8418)
= $46.61
Bottom border of price channel:
Exp(Y237)
= Exp(a + b × X237 – 2 × s)
= Exp(a + b × 344 – 2 × s)
= Exp(3.8362 + -0.0001 × 344 – 2 × 0.0220)
= Exp(3.7539)
= $42.69
December 3, 2024 calculations
Top border of price channel:
Exp(Y255)
= Exp(a + b × X255 + 2 × s)
= Exp(a + b × 371 + 2 × s)
= Exp(3.8362 + -0.0001 × 371 + 2 × 0.0220)
= Exp(3.8388)
= $46.47
Bottom border of price channel:
Exp(Y255)
= Exp(a + b × X255 – 2 × s)
= Exp(a + b × 371 – 2 × s)
= Exp(3.8362 + -0.0001 × 371 – 2 × 0.0220)
= Exp(3.7509)
= $42.56
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 3.99% per annum.
- WS price at the close of December 3, 2024 was inside the secondary price channel.