Clean Harbors Inc (CLH)
Clean Harbors, Inc. provides environmental and industrial services in North America. The company is headquartered in Norwell, Massachusetts.
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 65.92% per annum.
- CLH price at the close of November 19, 2024 was $246.76 and was lower than the bottom border of the primary price channel by $7.37 (2.90%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 43.94% per annum.
- CLH price at the close of November 19, 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 CLH 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: October 12, 2023
End date: October 29, 2024
a = 3.0612
b = 0.0014
s = 0.0281
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0014) – 1
= 65.92%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0281) – 1
= 11.91%
October 12, 2023 calculations
Top border of price channel:
Exp(Y979)
= Exp(a + b × X979 + 2 × s)
= Exp(a + b × 1,422 + 2 × s)
= Exp(3.0612 + 0.0014 × 1,422 + 2 × 0.0281)
= Exp(5.0900)
= $162.39
Bottom border of price channel:
Exp(Y979)
= Exp(a + b × X979 – 2 × s)
= Exp(a + b × 1,422 – 2 × s)
= Exp(3.0612 + 0.0014 × 1,422 – 2 × 0.0281)
= Exp(4.9774)
= $145.10
October 29, 2024 calculations
Top border of price channel:
Exp(Y1,242)
= Exp(a + b × X1,242 + 2 × s)
= Exp(a + b × 1,805 + 2 × s)
= Exp(3.0612 + 0.0014 × 1,805 + 2 × 0.0281)
= Exp(5.6213)
= $276.24
Bottom border of price channel:
Exp(Y1,242)
= Exp(a + b × X1,242 – 2 × s)
= Exp(a + b × 1,805 – 2 × s)
= Exp(3.0612 + 0.0014 × 1,805 – 2 × 0.0281)
= Exp(5.5087)
= $246.83
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 65.92% per annum.
- CLH price at the close of November 19, 2024 was $246.76 and was lower than the bottom border of the primary price channel by $7.37 (2.90%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: May 3, 2024
End date: November 19, 2024
a = 3.7317
b = 0.0010
s = 0.0248
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0010) – 1
= 43.94%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0248) – 1
= 10.43%
May 3, 2024 calculations
Top border of price channel:
Exp(Y1,119)
= Exp(a + b × X1,119 + 2 × s)
= Exp(a + b × 1,626 + 2 × s)
= Exp(3.7317 + 0.0010 × 1,626 + 2 × 0.0248)
= Exp(5.4037)
= $222.24
Bottom border of price channel:
Exp(Y1,119)
= Exp(a + b × X1,119 – 2 × s)
= Exp(a + b × 1,626 – 2 × s)
= Exp(3.7317 + 0.0010 × 1,626 – 2 × 0.0248)
= Exp(5.3045)
= $201.25
November 19, 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(3.7317 + 0.0010 × 1,826 + 2 × 0.0248)
= Exp(5.6033)
= $271.32
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.7317 + 0.0010 × 1,826 – 2 × 0.0248)
= Exp(5.5041)
= $245.69
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 43.94% per annum.
- CLH price at the close of November 19, 2024 was inside the secondary price channel.