Allete Inc (ALE)
ALLETE, Inc. is an energy company. The company is headquartered in Duluth, Minnesota.
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 21.36% per annum.
- ALE price at the close of November 20, 2024 was $64.37 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 9.46% per annum.
- ALE price at the close of November 20, 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 ALE 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: August 3, 2023
End date: November 20, 2024
a = 3.2149
b = 0.0005
s = 0.0320
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0005) – 1
= 21.36%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0320) – 1
= 13.65%
August 3, 2023 calculations
Top border of price channel:
Exp(Y929)
= Exp(a + b × X929 + 2 × s)
= Exp(a + b × 1,351 + 2 × s)
= Exp(3.2149 + 0.0005 × 1,351 + 2 × 0.0320)
= Exp(3.9956)
= $54.36
Bottom border of price channel:
Exp(Y929)
= Exp(a + b × X929 – 2 × s)
= Exp(a + b × 1,351 – 2 × s)
= Exp(3.2149 + 0.0005 × 1,351 – 2 × 0.0320)
= Exp(3.8676)
= $47.83
November 20, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(3.2149 + 0.0005 × 1,826 + 2 × 0.0320)
= Exp(4.2476)
= $69.94
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.2149 + 0.0005 × 1,826 – 2 × 0.0320)
= Exp(4.1196)
= $61.54
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 21.36% per annum.
- ALE price at the close of November 20, 2024 was $64.37 and was inside the primary price channel.
Secondary Trend
Start date: May 3, 2024
End date: November 20, 2024
a = 3.7091
b = 0.0002
s = 0.0071
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0002) – 1
= 9.46%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0071) – 1
= 2.89%
May 3, 2024 calculations
Top border of price channel:
Exp(Y1,118)
= Exp(a + b × X1,118 + 2 × s)
= Exp(a + b × 1,625 + 2 × s)
= Exp(3.7091 + 0.0002 × 1,625 + 2 × 0.0071)
= Exp(4.1259)
= $61.92
Bottom border of price channel:
Exp(Y1,118)
= Exp(a + b × X1,118 – 2 × s)
= Exp(a + b × 1,625 – 2 × s)
= Exp(3.7091 + 0.0002 × 1,625 – 2 × 0.0071)
= Exp(4.0974)
= $60.19
November 20, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(3.7091 + 0.0002 × 1,826 + 2 × 0.0071)
= Exp(4.1757)
= $65.08
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.7091 + 0.0002 × 1,826 – 2 × 0.0071)
= Exp(4.1472)
= $63.26
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 9.46% per annum.
- ALE price at the close of November 20, 2024 was inside the secondary price channel.