IDEX Corporation (IEX)
IDEX Corporation, based in Northbrook, Illinois, is a publicly traded company engaged in the development, design, and manufacture of fluidics systems and specialty engineered products.
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 13.90% per annum.
- IEX price at the close of November 19, 2024 was $223.61 and was higher than the top border of the primary price channel by $78.44 (54.03%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 0.75% per annum.
- IEX price at the close of November 19, 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 IEX 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: March 26, 2021
End date: July 27, 2022
a = 5.6138
b = -0.0004
s = 0.0565
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0004) – 1
= -13.90%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0565) – 1
= 25.36%
March 26, 2021 calculations
Top border of price channel:
Exp(Y338)
= Exp(a + b × X338 + 2 × s)
= Exp(a + b × 492 + 2 × s)
= Exp(5.6138 + -0.0004 × 492 + 2 × 0.0565)
= Exp(5.5250)
= $250.90
Bottom border of price channel:
Exp(Y338)
= Exp(a + b × X338 – 2 × s)
= Exp(a + b × 492 – 2 × s)
= Exp(5.6138 + -0.0004 × 492 – 2 × 0.0565)
= Exp(5.2990)
= $200.14
July 27, 2022 calculations
Top border of price channel:
Exp(Y674)
= Exp(a + b × X674 + 2 × s)
= Exp(a + b × 980 + 2 × s)
= Exp(5.6138 + -0.0004 × 980 + 2 × 0.0565)
= Exp(5.3249)
= $205.39
Bottom border of price channel:
Exp(Y674)
= Exp(a + b × X674 – 2 × s)
= Exp(a + b × 980 – 2 × s)
= Exp(5.6138 + -0.0004 × 980 – 2 × 0.0565)
= Exp(5.0989)
= $163.84
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 13.90% per annum.
- IEX price at the close of November 19, 2024 was $223.61 and was higher than the top border of the primary price channel by $78.44 (54.03%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: March 26, 2021
End date: November 19, 2024
a = 5.3146
b = 0.0000
s = 0.0703
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0000) – 1
= 0.75%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0703) – 1
= 32.48%
March 26, 2021 calculations
Top border of price channel:
Exp(Y338)
= Exp(a + b × X338 + 2 × s)
= Exp(a + b × 492 + 2 × s)
= Exp(5.3146 + 0.0000 × 492 + 2 × 0.0703)
= Exp(5.4653)
= $236.35
Bottom border of price channel:
Exp(Y338)
= Exp(a + b × X338 – 2 × s)
= Exp(a + b × 492 – 2 × s)
= Exp(5.3146 + 0.0000 × 492 – 2 × 0.0703)
= Exp(5.1841)
= $178.41
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(5.3146 + 0.0000 × 1,826 + 2 × 0.0703)
= Exp(5.4928)
= $242.93
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(5.3146 + 0.0000 × 1,826 – 2 × 0.0703)
= Exp(5.2115)
= $183.37
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 0.75% per annum.
- IEX price at the close of November 19, 2024 was inside the secondary price channel.