The Cooper Companies, Inc. Common Stock (COO)
The Cooper Companies, Inc., branded as CooperCompanies, is a global medical device company headquartered in San Ramon, California.
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 13.28% per annum.
- COO price at the close of November 20, 2024 was $99.08 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 40.66% per annum.
- COO price at the close of November 20, 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 COO 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: June 13, 2022
End date: November 20, 2024
a = 4.0092
b = 0.0003
s = 0.0793
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0003) – 1
= 13.28%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0793) – 1
= 37.35%
June 13, 2022 calculations
Top border of price channel:
Exp(Y643)
= Exp(a + b × X643 + 2 × s)
= Exp(a + b × 935 + 2 × s)
= Exp(4.0092 + 0.0003 × 935 + 2 × 0.0793)
= Exp(4.4872)
= $88.88
Bottom border of price channel:
Exp(Y643)
= Exp(a + b × X643 – 2 × s)
= Exp(a + b × 935 – 2 × s)
= Exp(4.0092 + 0.0003 × 935 – 2 × 0.0793)
= Exp(4.1699)
= $64.71
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(4.0092 + 0.0003 × 1,826 + 2 × 0.0793)
= Exp(4.7916)
= $120.49
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(4.0092 + 0.0003 × 1,826 – 2 × 0.0793)
= Exp(4.4742)
= $87.72
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 13.28% per annum.
- COO price at the close of November 20, 2024 was $99.08 and was inside the primary price channel.
Secondary Trend
Start date: September 13, 2024
End date: November 20, 2024
a = 7.2281
b = -0.0014
s = 0.0132
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0014) – 1
= -40.66%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0132) – 1
= 5.43%
September 13, 2024 calculations
Top border of price channel:
Exp(Y1,209)
= Exp(a + b × X1,209 + 2 × s)
= Exp(a + b × 1,758 + 2 × s)
= Exp(7.2281 + -0.0014 × 1,758 + 2 × 0.0132)
= Exp(4.7408)
= $114.53
Bottom border of price channel:
Exp(Y1,209)
= Exp(a + b × X1,209 – 2 × s)
= Exp(a + b × 1,758 – 2 × s)
= Exp(7.2281 + -0.0014 × 1,758 – 2 × 0.0132)
= Exp(4.6879)
= $108.63
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(7.2281 + -0.0014 × 1,826 + 2 × 0.0132)
= Exp(4.6436)
= $103.91
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(7.2281 + -0.0014 × 1,826 – 2 × 0.0132)
= Exp(4.5907)
= $98.56
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 40.66% per annum.
- COO price at the close of November 20, 2024 was inside the secondary price channel.