Enovis Corp (ENOV)
Enovis Corporation is a global medical technology company. The company is headquartered in Wilmington, Delaware.
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 14.81% per annum.
- ENOV price at the close of November 19, 2024 was $45.27 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 42.38% per annum.
- ENOV price at the close of November 19, 2024 was higher than the top border of the secondary price channel by $0.76 (1.70%). This indicates a possible reversal in the secondary trend direction.
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 ENOV 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: February 19, 2021
End date: November 19, 2024
a = 4.5961
b = -0.0004
s = 0.1121
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0004) – 1
= -14.81%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1121) – 1
= 56.57%
February 19, 2021 calculations
Top border of price channel:
Exp(Y313)
= Exp(a + b × X313 + 2 × s)
= Exp(a + b × 457 + 2 × s)
= Exp(4.5961 + -0.0004 × 457 + 2 × 0.1121)
= Exp(4.6196)
= $101.45
Bottom border of price channel:
Exp(Y313)
= Exp(a + b × X313 – 2 × s)
= Exp(a + b × 457 – 2 × s)
= Exp(4.5961 + -0.0004 × 457 – 2 × 0.1121)
= Exp(4.1713)
= $64.80
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(4.5961 + -0.0004 × 1,826 + 2 × 0.1121)
= Exp(4.0186)
= $55.62
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(4.5961 + -0.0004 × 1,826 – 2 × 0.1121)
= Exp(3.5703)
= $35.53
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 14.81% per annum.
- ENOV price at the close of November 19, 2024 was $45.27 and was inside the primary price channel.
Secondary Trend
Start date: January 18, 2024
End date: November 19, 2024
a = 6.4303
b = -0.0015
s = 0.0618
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0015) – 1
= -42.38%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0618) – 1
= 28.07%
January 18, 2024 calculations
Top border of price channel:
Exp(Y1,045)
= Exp(a + b × X1,045 + 2 × s)
= Exp(a + b × 1,520 + 2 × s)
= Exp(6.4303 + -0.0015 × 1,520 + 2 × 0.0618)
= Exp(4.2580)
= $70.67
Bottom border of price channel:
Exp(Y1,045)
= Exp(a + b × X1,045 – 2 × s)
= Exp(a + b × 1,520 – 2 × s)
= Exp(6.4303 + -0.0015 × 1,520 – 2 × 0.0618)
= Exp(4.0106)
= $55.18
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(6.4303 + -0.0015 × 1,826 + 2 × 0.0618)
= Exp(3.7958)
= $44.51
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(6.4303 + -0.0015 × 1,826 – 2 × 0.0618)
= Exp(3.5484)
= $34.76
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 42.38% per annum.
- ENOV price at the close of November 19, 2024 was higher than the top border of the secondary price channel by $0.76 (1.70%). This indicates a possible reversal in the secondary trend direction.