Gates Industrial Corporation plc (GTES)
Gates Industrial Corporation plc manufactures and sells engineered power transmission and fluid power solutions worldwide. The company is headquartered in Denver, Colorado.
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 57.04% per annum.
- GTES price at the close of October 21, 2024 was $18.56 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 2.89% per annum.
- GTES price at the close of October 21, 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 GTES 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: August 9, 2023
End date: October 21, 2024
a = 0.6938
b = 0.0012
s = 0.0770
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0012) – 1
= 57.04%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0770) – 1
= 36.05%
August 9, 2023 calculations
Top border of price channel:
Exp(Y955)
= Exp(a + b × X955 + 2 × s)
= Exp(a + b × 1,387 + 2 × s)
= Exp(0.6938 + 0.0012 × 1,387 + 2 × 0.0770)
= Exp(2.5628)
= $12.97
Bottom border of price channel:
Exp(Y955)
= Exp(a + b × X955 – 2 × s)
= Exp(a + b × 1,387 – 2 × s)
= Exp(0.6938 + 0.0012 × 1,387 – 2 × 0.0770)
= Exp(2.2550)
= $9.54
October 21, 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(0.6938 + 0.0012 × 1,826 + 2 × 0.0770)
= Exp(3.1057)
= $22.32
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(0.6938 + 0.0012 × 1,826 – 2 × 0.0770)
= Exp(2.7979)
= $16.41
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 57.04% per annum.
- GTES price at the close of October 21, 2024 was $18.56 and was inside the primary price channel.
Secondary Trend
Start date: March 8, 2024
End date: October 21, 2024
a = 2.7038
b = 0.0001
s = 0.0425
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0001) – 1
= 2.89%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0425) – 1
= 18.53%
March 8, 2024 calculations
Top border of price channel:
Exp(Y1,101)
= Exp(a + b × X1,101 + 2 × s)
= Exp(a + b × 1,599 + 2 × s)
= Exp(2.7038 + 0.0001 × 1,599 + 2 × 0.0425)
= Exp(2.9137)
= $18.42
Bottom border of price channel:
Exp(Y1,101)
= Exp(a + b × X1,101 – 2 × s)
= Exp(a + b × 1,599 – 2 × s)
= Exp(2.7038 + 0.0001 × 1,599 – 2 × 0.0425)
= Exp(2.7437)
= $15.54
October 21, 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(2.7038 + 0.0001 × 1,826 + 2 × 0.0425)
= Exp(2.9314)
= $18.75
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(2.7038 + 0.0001 × 1,826 – 2 × 0.0425)
= Exp(2.7614)
= $15.82
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 2.89% per annum.
- GTES price at the close of October 21, 2024 was inside the secondary price channel.