MYR Group Inc (MYRG)
MYR Group Inc., provides electrical construction services in the United States and Canada. The company is headquartered in Henderson, Colorado.
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 2.14% per annum.
- MYRG price at the close of November 19, 2024 was $145.55 and was higher than the top border of the primary price channel by $39.94 (37.82%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 20.71% per annum.
- MYRG 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 MYRG 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: April 29, 2021
End date: February 22, 2023
a = 4.5966
b = -0.0001
s = 0.0858
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0001) – 1
= -2.14%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0858) – 1
= 40.92%
April 29, 2021 calculations
Top border of price channel:
Exp(Y361)
= Exp(a + b × X361 + 2 × s)
= Exp(a + b × 526 + 2 × s)
= Exp(4.5966 + -0.0001 × 526 + 2 × 0.0858)
= Exp(4.7369)
= $114.08
Bottom border of price channel:
Exp(Y361)
= Exp(a + b × X361 – 2 × s)
= Exp(a + b × 526 – 2 × s)
= Exp(4.5966 + -0.0001 × 526 – 2 × 0.0858)
= Exp(4.3939)
= $80.95
February 22, 2023 calculations
Top border of price channel:
Exp(Y818)
= Exp(a + b × X818 + 2 × s)
= Exp(a + b × 1,190 + 2 × s)
= Exp(4.5966 + -0.0001 × 1,190 + 2 × 0.0858)
= Exp(4.6975)
= $109.67
Bottom border of price channel:
Exp(Y818)
= Exp(a + b × X818 – 2 × s)
= Exp(a + b × 1,190 – 2 × s)
= Exp(4.5966 + -0.0001 × 1,190 – 2 × 0.0858)
= Exp(4.3545)
= $77.82
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 2.14% per annum.
- MYRG price at the close of November 19, 2024 was $145.55 and was higher than the top border of the primary price channel by $39.94 (37.82%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: April 29, 2021
End date: July 31, 2024
a = 4.1421
b = 0.0005
s = 0.1252
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0005) – 1
= 20.71%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1252) – 1
= 64.97%
April 29, 2021 calculations
Top border of price channel:
Exp(Y361)
= Exp(a + b × X361 + 2 × s)
= Exp(a + b × 526 + 2 × s)
= Exp(4.1421 + 0.0005 × 526 + 2 × 0.1252)
= Exp(4.6636)
= $106.02
Bottom border of price channel:
Exp(Y361)
= Exp(a + b × X361 – 2 × s)
= Exp(a + b × 526 – 2 × s)
= Exp(4.1421 + 0.0005 × 526 – 2 × 0.1252)
= Exp(4.1630)
= $64.26
July 31, 2024 calculations
Top border of price channel:
Exp(Y1,179)
= Exp(a + b × X1,179 + 2 × s)
= Exp(a + b × 1,715 + 2 × s)
= Exp(4.1421 + 0.0005 × 1,715 + 2 × 0.1252)
= Exp(5.2767)
= $195.72
Bottom border of price channel:
Exp(Y1,179)
= Exp(a + b × X1,179 – 2 × s)
= Exp(a + b × 1,715 – 2 × s)
= Exp(4.1421 + 0.0005 × 1,715 – 2 × 0.1252)
= Exp(4.7761)
= $118.64
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 20.71% per annum.
- MYRG price at the close of November 19, 2024 was inside the secondary price channel.