ManpowerGroup Inc (MAN)
ManpowerGroup Inc. provides solutions and services for the workforce in the Americas, Southern Europe, Northern Europe, and the Asia Pacific and Middle East region. The company is headquartered in Milwaukee, Wisconsin.
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 10.45% per annum.
- MAN price at the close of November 19, 2024 was $60.39 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 1.88% per annum.
- MAN price at the close of November 19, 2024 was lower than the bottom border of the secondary price channel by $2.05 (3.28%).
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 MAN 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 10, 2021
End date: November 19, 2024
a = 4.7266
b = -0.0003
s = 0.0934
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0003) – 1
= -10.45%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0934) – 1
= 45.32%
March 10, 2021 calculations
Top border of price channel:
Exp(Y326)
= Exp(a + b × X326 + 2 × s)
= Exp(a + b × 476 + 2 × s)
= Exp(4.7266 + -0.0003 × 476 + 2 × 0.0934)
= Exp(4.7695)
= $117.86
Bottom border of price channel:
Exp(Y326)
= Exp(a + b × X326 – 2 × s)
= Exp(a + b × 476 – 2 × s)
= Exp(4.7266 + -0.0003 × 476 – 2 × 0.0934)
= Exp(4.3957)
= $81.10
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(4.7266 + -0.0003 × 1,826 + 2 × 0.0934)
= Exp(4.3610)
= $78.34
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(4.7266 + -0.0003 × 1,826 – 2 × 0.0934)
= Exp(3.9873)
= $53.91
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 10.45% per annum.
- MAN price at the close of November 19, 2024 was $60.39 and was inside the primary price channel.
Secondary Trend
Start date: June 10, 2022
End date: November 19, 2024
a = 4.3589
b = -0.0001
s = 0.0649
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0001) – 1
= -1.88%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0649) – 1
= 29.62%
June 10, 2022 calculations
Top border of price channel:
Exp(Y643)
= Exp(a + b × X643 + 2 × s)
= Exp(a + b × 933 + 2 × s)
= Exp(4.3589 + -0.0001 × 933 + 2 × 0.0649)
= Exp(4.4401)
= $84.78
Bottom border of price channel:
Exp(Y643)
= Exp(a + b × X643 – 2 × s)
= Exp(a + b × 933 – 2 × s)
= Exp(4.3589 + -0.0001 × 933 – 2 × 0.0649)
= Exp(4.1806)
= $65.41
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(4.3589 + -0.0001 × 1,826 + 2 × 0.0649)
= Exp(4.3937)
= $80.94
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(4.3589 + -0.0001 × 1,826 – 2 × 0.0649)
= Exp(4.1342)
= $62.44
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 1.88% per annum.
- MAN price at the close of November 19, 2024 was lower than the bottom border of the secondary price channel by $2.05 (3.28%).