ChampionX Corporation (CHX)
ChampionX Corporation provides chemical solutions and engineering equipment and technologies to oil and gas companies around the world. The company is headquartered in The Woodlands, Texas.
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 19.32% per annum.
- CHX price at the close of April 1, 2025 was $30.02 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 42.28% per annum.
- CHX price at the close of April 1, 2025 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 CHX 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 13, 2024
End date: March 21, 2025
a = 4.3926
b = -0.0006
s = 0.0508
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0006) – 1
= -19.32%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0508) – 1
= 22.52%
March 13, 2024 calculations
Top border of price channel:
Exp(Y992)
= Exp(a + b × X992 + 2 × s)
= Exp(a + b × 1,441 + 2 × s)
= Exp(4.3926 + -0.0006 × 1,441 + 2 × 0.0508)
= Exp(3.6467)
= $38.35
Bottom border of price channel:
Exp(Y992)
= Exp(a + b × X992 – 2 × s)
= Exp(a + b × 1,441 – 2 × s)
= Exp(4.3926 + -0.0006 × 1,441 – 2 × 0.0508)
= Exp(3.4436)
= $31.30
March 21, 2025 calculations
Top border of price channel:
Exp(Y1,248)
= Exp(a + b × X1,248 + 2 × s)
= Exp(a + b × 1,814 + 2 × s)
= Exp(4.3926 + -0.0006 × 1,814 + 2 × 0.0508)
= Exp(3.4273)
= $30.79
Bottom border of price channel:
Exp(Y1,248)
= Exp(a + b × X1,248 – 2 × s)
= Exp(a + b × 1,814 – 2 × s)
= Exp(4.3926 + -0.0006 × 1,814 – 2 × 0.0508)
= Exp(3.2242)
= $25.13
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 19.32% per annum.
- CHX price at the close of April 1, 2025 was $30.02 and was inside the primary price channel.
Secondary Trend
Start date: December 16, 2024
End date: April 1, 2025
a = 1.6470
b = 0.0010
s = 0.0335
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0010) – 1
= 42.28%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0335) – 1
= 14.33%
December 16, 2024 calculations
Top border of price channel:
Exp(Y1,184)
= Exp(a + b × X1,184 + 2 × s)
= Exp(a + b × 1,719 + 2 × s)
= Exp(1.6470 + 0.0010 × 1,719 + 2 × 0.0335)
= Exp(3.3748)
= $29.22
Bottom border of price channel:
Exp(Y1,184)
= Exp(a + b × X1,184 – 2 × s)
= Exp(a + b × 1,719 – 2 × s)
= Exp(1.6470 + 0.0010 × 1,719 – 2 × 0.0335)
= Exp(3.2409)
= $25.56
April 1, 2025 calculations
Top border of price channel:
Exp(Y1,255)
= Exp(a + b × X1,255 + 2 × s)
= Exp(a + b × 1,825 + 2 × s)
= Exp(1.6470 + 0.0010 × 1,825 + 2 × 0.0335)
= Exp(3.4772)
= $32.37
Bottom border of price channel:
Exp(Y1,255)
= Exp(a + b × X1,255 – 2 × s)
= Exp(a + b × 1,825 – 2 × s)
= Exp(1.6470 + 0.0010 × 1,825 – 2 × 0.0335)
= Exp(3.3433)
= $28.31
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 42.28% per annum.
- CHX price at the close of April 1, 2025 was inside the secondary price channel.