Cytek Biosciences Inc (CTKB)
None
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 82.73% per annum.
- CTKB price at the close of November 19, 2024 was $6.13 and was higher than the top border of the primary price channel by $6.01 (5,007.77%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 29.55% per annum.
- CTKB 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 CTKB 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: January 12, 2022
End date: May 13, 2022
a = 3.5940
b = -0.0048
s = 0.0658
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0048) – 1
= -82.73%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0658) – 1
= 30.11%
January 12, 2022 calculations
Top border of price channel:
Exp(Y120)
= Exp(a + b × X120 + 2 × s)
= Exp(a + b × 173 + 2 × s)
= Exp(3.5940 + -0.0048 × 173 + 2 × 0.0658)
= Exp(2.8932)
= $18.05
Bottom border of price channel:
Exp(Y120)
= Exp(a + b × X120 – 2 × s)
= Exp(a + b × 173 – 2 × s)
= Exp(3.5940 + -0.0048 × 173 – 2 × 0.0658)
= Exp(2.6300)
= $13.87
May 13, 2022 calculations
Top border of price channel:
Exp(Y204)
= Exp(a + b × X204 + 2 × s)
= Exp(a + b × 294 + 2 × s)
= Exp(3.5940 + -0.0048 × 294 + 2 × 0.0658)
= Exp(2.3111)
= $10.09
Bottom border of price channel:
Exp(Y204)
= Exp(a + b × X204 – 2 × s)
= Exp(a + b × 294 – 2 × s)
= Exp(3.5940 + -0.0048 × 294 – 2 × 0.0658)
= Exp(2.0479)
= $7.75
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 82.73% per annum.
- CTKB price at the close of November 19, 2024 was $6.13 and was higher than the top border of the primary price channel by $6.01 (5,007.77%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: January 12, 2022
End date: November 19, 2024
a = 2.8224
b = -0.0010
s = 0.1865
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0010) – 1
= -29.55%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1865) – 1
= 110.88%
January 12, 2022 calculations
Top border of price channel:
Exp(Y120)
= Exp(a + b × X120 + 2 × s)
= Exp(a + b × 173 + 2 × s)
= Exp(2.8224 + -0.0010 × 173 + 2 × 0.1865)
= Exp(3.0295)
= $20.69
Bottom border of price channel:
Exp(Y120)
= Exp(a + b × X120 – 2 × s)
= Exp(a + b × 173 – 2 × s)
= Exp(2.8224 + -0.0010 × 173 – 2 × 0.1865)
= Exp(2.2833)
= $9.81
November 19, 2024 calculations
Top border of price channel:
Exp(Y837)
= Exp(a + b × X837 + 2 × s)
= Exp(a + b × 1,215 + 2 × s)
= Exp(2.8224 + -0.0010 × 1,215 + 2 × 0.1865)
= Exp(2.0297)
= $7.61
Bottom border of price channel:
Exp(Y837)
= Exp(a + b × X837 – 2 × s)
= Exp(a + b × 1,215 – 2 × s)
= Exp(2.8224 + -0.0010 × 1,215 – 2 × 0.1865)
= Exp(1.2835)
= $3.61
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 29.55% per annum.
- CTKB price at the close of November 19, 2024 was inside the secondary price channel.