Olympic Steel Inc (ZEUS)
Olympic Steel, Inc. processes and distributes metal products in the United States and internationally. The company is headquartered in Bedford Heights, 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 62.07% per annum.
- ZEUS price at the close of November 20, 2024 was $40.49 and was higher than the top border of the primary price channel by $1.81 (4.69%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 8.45% per annum.
- ZEUS price at the close of November 20, 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 ZEUS 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: January 22, 2024
End date: November 5, 2024
a = 8.3515
b = -0.0027
s = 0.0767
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0027) – 1
= -62.07%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0767) – 1
= 35.93%
January 22, 2024 calculations
Top border of price channel:
Exp(Y1,046)
= Exp(a + b × X1,046 + 2 × s)
= Exp(a + b × 1,523 + 2 × s)
= Exp(8.3515 + -0.0027 × 1,523 + 2 × 0.0767)
= Exp(4.4600)
= $86.48
Bottom border of price channel:
Exp(Y1,046)
= Exp(a + b × X1,046 – 2 × s)
= Exp(a + b × 1,523 – 2 × s)
= Exp(8.3515 + -0.0027 × 1,523 – 2 × 0.0767)
= Exp(4.1530)
= $63.63
November 5, 2024 calculations
Top border of price channel:
Exp(Y1,246)
= Exp(a + b × X1,246 + 2 × s)
= Exp(a + b × 1,811 + 2 × s)
= Exp(8.3515 + -0.0027 × 1,811 + 2 × 0.0767)
= Exp(3.6951)
= $40.25
Bottom border of price channel:
Exp(Y1,246)
= Exp(a + b × X1,246 – 2 × s)
= Exp(a + b × 1,811 – 2 × s)
= Exp(8.3515 + -0.0027 × 1,811 – 2 × 0.0767)
= Exp(3.3881)
= $29.61
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 62.07% per annum.
- ZEUS price at the close of November 20, 2024 was $40.49 and was higher than the top border of the primary price channel by $1.81 (4.69%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: August 9, 2024
End date: November 20, 2024
a = 4.0880
b = -0.0002
s = 0.0409
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0002) – 1
= -8.45%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0409) – 1
= 17.77%
August 9, 2024 calculations
Top border of price channel:
Exp(Y1,185)
= Exp(a + b × X1,185 + 2 × s)
= Exp(a + b × 1,723 + 2 × s)
= Exp(4.0880 + -0.0002 × 1,723 + 2 × 0.0409)
= Exp(3.7533)
= $42.66
Bottom border of price channel:
Exp(Y1,185)
= Exp(a + b × X1,185 – 2 × s)
= Exp(a + b × 1,723 – 2 × s)
= Exp(4.0880 + -0.0002 × 1,723 – 2 × 0.0409)
= Exp(3.5897)
= $36.22
November 20, 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(4.0880 + -0.0002 × 1,826 + 2 × 0.0409)
= Exp(3.7284)
= $41.61
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(4.0880 + -0.0002 × 1,826 – 2 × 0.0409)
= Exp(3.5648)
= $35.33
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 8.45% per annum.
- ZEUS price at the close of November 20, 2024 was inside the secondary price channel.