Worthington Industries Inc (WOR)
Worthington Industries, Inc., a metal fabrication company, focuses on processing value-added steel and metal products manufactured in the United States, Austria, Canada, Mexico, Poland, and Portugal. The company is headquartered in Columbus, Ohio.
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 49.76% per annum.
- WOR price at the close of December 2, 2024 was $41.86 and was higher than the top border of the primary price channel by $0.74 (1.80%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 5.34% per annum.
- WOR price at the close of December 2, 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 WOR 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: February 15, 2024
End date: November 27, 2024
a = 7.0715
b = -0.0019
s = 0.0444
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0019) – 1
= -49.76%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0444) – 1
= 19.42%
February 15, 2024 calculations
Top border of price channel:
Exp(Y1,057)
= Exp(a + b × X1,057 + 2 × s)
= Exp(a + b × 1,535 + 2 × s)
= Exp(7.0715 + -0.0019 × 1,535 + 2 × 0.0444)
= Exp(4.2653)
= $71.18
Bottom border of price channel:
Exp(Y1,057)
= Exp(a + b × X1,057 – 2 × s)
= Exp(a + b × 1,535 – 2 × s)
= Exp(7.0715 + -0.0019 × 1,535 – 2 × 0.0444)
= Exp(4.0878)
= $59.61
November 27, 2024 calculations
Top border of price channel:
Exp(Y1,255)
= Exp(a + b × X1,255 + 2 × s)
= Exp(a + b × 1,821 + 2 × s)
= Exp(7.0715 + -0.0019 × 1,821 + 2 × 0.0444)
= Exp(3.7259)
= $41.51
Bottom border of price channel:
Exp(Y1,255)
= Exp(a + b × X1,255 – 2 × s)
= Exp(a + b × 1,821 – 2 × s)
= Exp(7.0715 + -0.0019 × 1,821 – 2 × 0.0444)
= Exp(3.5484)
= $34.76
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 49.76% per annum.
- WOR price at the close of December 2, 2024 was $41.86 and was higher than the top border of the primary price channel by $0.74 (1.80%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: September 26, 2024
End date: December 2, 2024
a = 3.9690
b = -0.0002
s = 0.0318
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0002) – 1
= -5.34%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0318) – 1
= 13.55%
September 26, 2024 calculations
Top border of price channel:
Exp(Y1,211)
= Exp(a + b × X1,211 + 2 × s)
= Exp(a + b × 1,759 + 2 × s)
= Exp(3.9690 + -0.0002 × 1,759 + 2 × 0.0318)
= Exp(3.7683)
= $43.31
Bottom border of price channel:
Exp(Y1,211)
= Exp(a + b × X1,211 – 2 × s)
= Exp(a + b × 1,759 – 2 × s)
= Exp(3.9690 + -0.0002 × 1,759 – 2 × 0.0318)
= Exp(3.6412)
= $38.14
December 2, 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(3.9690 + -0.0002 × 1,826 + 2 × 0.0318)
= Exp(3.7582)
= $42.87
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.9690 + -0.0002 × 1,826 – 2 × 0.0318)
= Exp(3.6311)
= $37.76
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 5.34% per annum.
- WOR price at the close of December 2, 2024 was inside the secondary price channel.