Worthington Steel Inc (WS)
Worthington Steel, Inc. is a steel processor in North America. The company is headquartered in Columbus, Ohio.
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 1,421.17% per annum.
- WS price at the close of November 20, 2024 was $43.95 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 72.34% per annum.
- WS price at the close of November 20, 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 WS 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: October 2, 2024
End date: November 20, 2024
a = 1.1495
b = 0.0075
s = 0.0444
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0075) – 1
= 1,421.17%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0444) – 1
= 19.44%
October 2, 2024 calculations
Top border of price channel:
Exp(Y212)
= Exp(a + b × X212 + 2 × s)
= Exp(a + b × 309 + 2 × s)
= Exp(1.1495 + 0.0075 × 309 + 2 × 0.0444)
= Exp(3.5428)
= $34.56
Bottom border of price channel:
Exp(Y212)
= Exp(a + b × X212 – 2 × s)
= Exp(a + b × 309 – 2 × s)
= Exp(1.1495 + 0.0075 × 309 – 2 × 0.0444)
= Exp(3.3652)
= $28.94
November 20, 2024 calculations
Top border of price channel:
Exp(Y247)
= Exp(a + b × X247 + 2 × s)
= Exp(a + b × 358 + 2 × s)
= Exp(1.1495 + 0.0075 × 358 + 2 × 0.0444)
= Exp(3.9082)
= $49.81
Bottom border of price channel:
Exp(Y247)
= Exp(a + b × X247 – 2 × s)
= Exp(a + b × 358 – 2 × s)
= Exp(1.1495 + 0.0075 × 358 – 2 × 0.0444)
= Exp(3.7306)
= $41.70
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 1,421.17% per annum.
- WS price at the close of November 20, 2024 was $43.95 and was inside the primary price channel.
Secondary Trend
Start date: November 6, 2024
End date: November 20, 2024
a = 5.0288
b = -0.0035
s = 0.0212
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0035) – 1
= -72.34%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0212) – 1
= 8.87%
November 6, 2024 calculations
Top border of price channel:
Exp(Y237)
= Exp(a + b × X237 + 2 × s)
= Exp(a + b × 344 + 2 × s)
= Exp(5.0288 + -0.0035 × 344 + 2 × 0.0212)
= Exp(3.8602)
= $47.47
Bottom border of price channel:
Exp(Y237)
= Exp(a + b × X237 – 2 × s)
= Exp(a + b × 344 – 2 × s)
= Exp(5.0288 + -0.0035 × 344 – 2 × 0.0212)
= Exp(3.7752)
= $43.61
November 20, 2024 calculations
Top border of price channel:
Exp(Y247)
= Exp(a + b × X247 + 2 × s)
= Exp(a + b × 358 + 2 × s)
= Exp(5.0288 + -0.0035 × 358 + 2 × 0.0212)
= Exp(3.8109)
= $45.19
Bottom border of price channel:
Exp(Y247)
= Exp(a + b × X247 – 2 × s)
= Exp(a + b × 358 – 2 × s)
= Exp(5.0288 + -0.0035 × 358 – 2 × 0.0212)
= Exp(3.7259)
= $41.51
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 72.34% per annum.
- WS price at the close of November 20, 2024 was inside the secondary price channel.