RB Global Inc. (RBA)
Ritchie Bros. The company is headquartered in Burnaby, Canada.
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 34.70% per annum.
- RBA price at the close of October 16, 2024 was $78.71 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 42.35% per annum.
- RBA price at the close of October 16, 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 RBA 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, 2023
End date: October 15, 2024
a = 2.9450
b = 0.0008
s = 0.0429
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0008) – 1
= 34.70%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0429) – 1
= 18.71%
March 10, 2023 calculations
Top border of price channel:
Exp(Y854)
= Exp(a + b × X854 + 2 × s)
= Exp(a + b × 1,240 + 2 × s)
= Exp(2.9450 + 0.0008 × 1,240 + 2 × 0.0429)
= Exp(4.0428)
= $56.99
Bottom border of price channel:
Exp(Y854)
= Exp(a + b × X854 – 2 × s)
= Exp(a + b × 1,240 – 2 × s)
= Exp(2.9450 + 0.0008 × 1,240 – 2 × 0.0429)
= Exp(3.8713)
= $48.00
October 15, 2024 calculations
Top border of price channel:
Exp(Y1,256)
= Exp(a + b × X1,256 + 2 × s)
= Exp(a + b × 1,825 + 2 × s)
= Exp(2.9450 + 0.0008 × 1,825 + 2 × 0.0429)
= Exp(4.5203)
= $91.86
Bottom border of price channel:
Exp(Y1,256)
= Exp(a + b × X1,256 – 2 × s)
= Exp(a + b × 1,825 – 2 × s)
= Exp(2.9450 + 0.0008 × 1,825 – 2 × 0.0429)
= Exp(4.3488)
= $77.38
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 34.70% per annum.
- RBA price at the close of October 16, 2024 was $78.71 and was inside the primary price channel.
Secondary Trend
Start date: August 23, 2024
End date: October 16, 2024
a = 7.1339
b = -0.0015
s = 0.0141
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0015) – 1
= -42.35%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0141) – 1
= 5.81%
August 23, 2024 calculations
Top border of price channel:
Exp(Y1,220)
= Exp(a + b × X1,220 + 2 × s)
= Exp(a + b × 1,772 + 2 × s)
= Exp(7.1339 + -0.0015 × 1,772 + 2 × 0.0141)
= Exp(4.4879)
= $88.93
Bottom border of price channel:
Exp(Y1,220)
= Exp(a + b × X1,220 – 2 × s)
= Exp(a + b × 1,772 – 2 × s)
= Exp(7.1339 + -0.0015 × 1,772 – 2 × 0.0141)
= Exp(4.4314)
= $84.05
October 16, 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(7.1339 + -0.0015 × 1,826 + 2 × 0.0141)
= Exp(4.4064)
= $81.97
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(7.1339 + -0.0015 × 1,826 – 2 × 0.0141)
= Exp(4.3499)
= $77.47
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 42.35% per annum.
- RBA price at the close of October 16, 2024 was inside the secondary price channel.