Statistics of Price Movements of Advanced Emissions Solutions Inc (ADES)

The price movements of Advanced Emissions Solutions Inc (ticker ADES) are summarized in five ways:

• Table 1. Statistics of daily price changes using the closing prices
• Table 2. Statistics of daily price changes using the closing and opening prices
• Table 3 – 7. Statistics of daily price changes when ADES opened with an increase of 1%, 2%, 3%, 4%, or more than 5%
• Table 8 – 10. Statistics of stock price changes in the 20 days after ADES had a big price move
• Table 11. Statistics of daily price changes in the 20 days after ADES moved 5% with twice the 30-day average volume

The statistics are calculated using ADES's price data across 1,175 trading days from 2015 to 2020.

Table 1. Statistics of ADES one-day price changes

In this table, the one-day price change is calculated using the closing price and the previous day's closing price.

In the past 1,175 trading days, 47.7% of the time (560 days), ADES closed above the previous day's closing price. 45.7% of the time (536 days), it closed below the previous day's closing price. 6.6% of the time (78 days), it did not change.

Also see: VIX price movement study.

ADES Price Change (%)	Number of Days	% of Total Sessions
23 – 24%	1	0.09%
19 – 20%	1	0.09%
17 – 18%	1	0.09%
14 – 15%	1	0.09%
13 – 14%	1	0.09%
11 – 12%	1	0.09%
10 – 11%	2	0.17%
9 – 10%	3	0.26%
8 – 9%	3	0.26%
7 – 8%	10	0.85%
6 – 7%	7	0.60%
5 – 6%	16	1.36%
4 – 5%	23	1.96%
3 – 4%	47	4.00%
2 – 3%	72	6.13%
1 – 2%	153	13.03%
0 – 1%	218	18.57%
0%	78	6.64%
0 – -1%	206	17.55%
-1 – -2%	126	10.73%
-2 – -3%	90	7.67%
-3 – -4%	42	3.58%
-4 – -5%	28	2.39%
-5 – -6%	14	1.19%
-6 – -7%	7	0.60%
-7 – -8%	6	0.51%
-8 – -9%	2	0.17%
-9 – -10%	1	0.09%
-10 – -11%	1	0.09%
-11 – -12%	4	0.34%
-12 – -13%	2	0.17%
-13 – -14%	2	0.17%
-14 – -15%	1	0.09%
-21 – -22%	1	0.09%
-27 – -28%	1	0.09%
-33 – -34%	1	0.09%
-46 – -47%	1	0.09%

Table 2. Statistics of ADES: Closing vs. Open

In this table, instead of using the closing price of the previous day, the opening price is used to calculate the one-day price change of ADES.

46.8% of the time (550 days), ADES closed above the opening price. 47.4% of the time (557 days), it closed below the opening price. 5.8% of the time (68 days), it closed where it started.

Closing - Open (%)	Number of Days	% of Total Sessions
18 – 19%	1	0.09%
15 – 16%	1	0.09%
14 – 15%	2	0.17%
11 – 12%	1	0.09%
10 – 11%	1	0.09%
9 – 10%	3	0.26%
8 – 9%	4	0.34%
7 – 8%	4	0.34%
6 – 7%	14	1.19%
5 – 6%	13	1.11%
4 – 5%	23	1.96%
3 – 4%	40	3.40%
2 – 3%	84	7.15%
1 – 2%	123	10.47%
0 – 1%	236	20.09%
0%	68	5.79%
0 – -1%	219	18.64%
-1 – -2%	130	11.06%
-2 – -3%	97	8.26%
-3 – -4%	46	3.91%
-4 – -5%	24	2.04%
-5 – -6%	13	1.11%
-6 – -7%	8	0.68%
-7 – -8%	5	0.43%
-8 – -9%	6	0.51%
-9 – -10%	1	0.09%
-10 – -11%	1	0.09%
-11 – -12%	4	0.34%
-12 – -13%	1	0.09%
-16 – -17%	1	0.09%
-26 – -27%	1	0.09%

Table 3. One-day performance when ADES opened 5% higher than previous close

In the past 1,175 trading days, ADES opened more than 5% higher than the previous day's closing price 7 times. Of these days, 14.3% (1 days) had closing prices above the opening price, and 71.4% (5 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
1 – 2%	1	14.29%
0%	1	14.29%
-2 – -3%	1	14.29%
-4 – -5%	3	42.86%
-11 – -12%	1	14.29%

Table 4. Closing vs. open when ADES opened 4–5% higher

On 5 days, ADES opened 4–5% higher than the previous day's closing price. Of these days, 20.0% (1 days) had closing prices above the opening price, and 80.0% (4 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
0 – 1%	1	20.00%
0 – -1%	1	20.00%
-3 – -4%	2	40.00%
-5 – -6%	1	20.00%

Table 5. Closing vs. open when ADES open 3 – 4% higher

11 times ADES opened 3 – 4% higher than the previous day's closing price. Among these days, 72.7% (8 days) closed above the opening price, 27.3% (3 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
2 – 3%	3	27.27%
1 – 2%	3	27.27%
0 – 1%	2	18.18%
0 – -1%	1	9.09%
-2 – -3%	1	9.09%
-3 – -4%	1	9.09%

Table 6. Closing vs. open when ADES open 2 – 3% higher

23 times ADES opened 2 – 3% higher than the previous day's closing price. Among these days, 43.5% (10 days) closed above the opening price, 56.5% (13 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
7 – 8%	1	4.35%
6 – 7%	1	4.35%
5 – 6%	2	8.70%
2 – 3%	2	8.70%
1 – 2%	2	8.70%
0 – 1%	2	8.70%
0 – -1%	2	8.70%
-1 – -2%	4	17.39%
-2 – -3%	2	8.70%
-3 – -4%	1	4.35%
-4 – -5%	1	4.35%
-6 – -7%	1	4.35%
-7 – -8%	1	4.35%
-8 – -9%	1	4.35%

Table 7. Closing vs. open when ADES open 1 – 2% higher

91 times ADES opened 1 – 2% higher than the previous day's closing price. Among these days, 39.6% (36 days) closed above the opening price, 59.3% (54 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
15 – 16%	1	1.10%
9 – 10%	1	1.10%
6 – 7%	1	1.10%
5 – 6%	3	3.30%
4 – 5%	2	2.20%
3 – 4%	2	2.20%
2 – 3%	6	6.59%
1 – 2%	4	4.40%
0 – 1%	16	17.58%
0%	1	1.10%
0 – -1%	12	13.19%
-1 – -2%	16	17.58%
-2 – -3%	8	8.79%
-3 – -4%	9	9.89%
-4 – -5%	5	5.49%
-5 – -6%	2	2.20%
-6 – -7%	1	1.10%
-11 – -12%	1	1.10%

Table 8. Periods when ADES moved 15% or more

In this table, we track the price movements in the 20 days after ADES had a one-day price change of at least 15%.

Date	Price Change	Price Change after 15% Move
Days after:		1	4	7	10	13	16	19
20201001	23.8%	-4.4	-4.2	-8.9	-10.3	-11.5	-12.1	-17.9
20160906	19.1%	-4.7	-.5	-4.7	-6.5	-2.3	-7.6	-9.1
20200408	17.7%	3.4	3.5	-2.6	-3.7	4.8	8.6	-1.6
20160707	-21.2%	-4.6	-4.5	-9.5	-13.0	-12.2	-5.5	-9.2
20200227	-27.1%	11.5	13.8	-2.8	-17.1	-34.8	-33.9	-25.1
20200512	-33%	-5.8	-3.1	-2.1	-2.5	-2.9	3.3	7.7
20150130	-46.4%	-11.3	-34.5	-34.0	-37.5	-37.7	-39.6	-32.2

Table 8a. ADES average price changes following a 15% up day

Of the 1,175 trading days from 2015 to 2020, there were 3 days in which ADES was up more than 15%. This table shows the average price changes over the 3 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 15%	-1.9	-.4	-5.4	-6.8	-3.0	-3.7	-9.5

Table 8b. ADES average price changes following a 15% down day

Of the 1,175 trading days from 2015 to 2020, there were 4 days in which ADES was down more than -15%. This table shows the average price changes over the 4 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -15%	-2.5	-7.1	-12.1	-17.5	-21.9	-18.9	-14.7

Table 9. Periods when ADES moved 10% or more

In this table, we track the price movements in the 20 days after ADES had a one-day price change of at least 10%.

Date	Price Change	Price Change after 10% Move
Days after:		1	4	7	10	13	16	19
20201001	23.8%	-4.4	-4.2	-8.9	-10.3	-11.5	-12.1	-17.9
20160906	19.1%	-4.7	-.5	-4.7	-6.5	-2.3	-7.6	-9.1
20200408	17.7%	3.4	3.5	-2.6	-3.7	4.8	8.6	-1.6
20200326	14.7%	-1.0	-16.4	-17.2	3.2	3.4	-2.8	-3.8
20200319	13.1%	-6.1	6.4	33.3	5.7	3.6	26.0	18.7
20200228	11.5%	7.4	1.1	-8.2	-23.3	-44.2	-41.3	-22.9
20190507	10.4%	3.0	5.8	7.1	-5.2	-6.1	-7.1	-1.5
20200330	10.3%	-12.2	-29.8	-8.6	-8.8	-15.6	-18.0	-11.2
20200611	-10.4%	5.6	2.7	2.5	-2.1	.6	1.5	3.1
20150202	-11.3%	-21.3	-24.0	-24.5	-31.0	-30.7	-31.9	-30.9
20200403	-11.4%	8.0	34.7	34.9	26.9	25.5	36.6	41.5
20200309	-11.6%	5.3	-12.0	-36.0	-32.6	-11.6	-15.2	-32.3
20200317	-11.7%	-4.6	.4	31.7	26.3	1.0	31.5	31.2
20200331	-12.1%	-12.8	-13.7	7.6	7.8	1.4	.3	9.1
20200401	-12.7%	3.5	1.4	23.4	16.2	11.0	14.8	25.7
20200316	-13.6%	-11.7	-10.5	1.4	27.0	.7	-1.4	20.0
20191113	-13.8%	-4.3	-4.8	.8	-3.8	-4.4	-3.7	-3.0
20200312	-14%	3.2	-25.0	-21.0	3.6	-.6	-20.6	3.5
20160707	-21.2%	-4.6	-4.5	-9.5	-13.0	-12.2	-5.5	-9.2
20200227	-27.1%	11.5	13.8	-2.8	-17.1	-34.8	-33.9	-25.1
20200512	-33%	-5.8	-3.1	-2.1	-2.5	-2.9	3.3	7.7
20150130	-46.4%	-11.3	-34.5	-34.0	-37.5	-37.7	-39.6	-32.2

Table 9a. ADES average price changes following a 10% up day

Of the 1,175 trading days from 2015 to 2020, there were 8 days in which ADES was up more than 10%. This table shows the average price changes over the 8 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 10%	-1.8	-4.2	-1.2	-6.1	-8.5	-6.8	-6.2

Table 9b. ADES average price changes following a 10% down day

Of the 1,175 trading days from 2015 to 2020, there were 14 days in which ADES was down more than -10%. This table shows the average price changes over the 14 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -10%	-2.8	-5.7	-2.0	-2.3	-6.8	-4.6	.7

Table 10. Periods when ADES moved 5% or more

In this table, we track the price movements in the 20 days after ADES had a one-day price change of at least 5%.

Date	Price Change	Price Change after 5% Move
Days after:		1	4	7	10	13	16	19
20201001	23.8%	-4.4	-4.2	-8.9	-10.3	-11.5	-12.1	-17.9
20160906	19.1%	-4.7	-.5	-4.7	-6.5	-2.3	-7.6	-9.1
20200408	17.7%	3.4	3.5	-2.6	-3.7	4.8	8.6	-1.6
20200326	14.7%	-1.0	-16.4	-17.2	3.2	3.4	-2.8	-3.8
20200319	13.1%	-6.1	6.4	33.3	5.7	3.6	26.0	18.7
20200228	11.5%	7.4	1.1	-8.2	-23.3	-44.2	-41.3	-22.9
20190507	10.4%	3.0	5.8	7.1	-5.2	-6.1	-7.1	-1.5
20200330	10.3%	-12.2	-29.8	-8.6	-8.8	-15.6	-18.0	-11.2
20200325	9.7%	14.7	10.1	-12.1	14.6	14.2	5.7	2.7
20160729	9.2%	2.9	-2.7	5.0	3.7	-1.9	4.3	4.4
20200508	9%	3.9	-35.0	-37.5	-32.3	-29.8	-32.7	-28.8
20171207	8.8%	-4.8	13.7	13.0	13.6	11.8	9.3	6.4
20180302	8.7%	3.3	-1.4	.9	3.8	4.8	5.3	7.9
20171213	8.4%	-.3	-.4	-2.3	-2.5	-3.9	-6.7	-9.7
20200406	7.9%	2.5	24.7	17.5	12.2	16.0	27.0	24.5
20200427	7.9%	.4	-1.5	-4.9	8.1	-32.4	-35.0	-29.6
20201124	7.8%
20200603	7.6%	-.9	6.2	-5.0	-7.6	-7.8	-11.9	-9.5
20190325	7.5%	.7	-.9	1.2	3.4	8.8	8.5	12.4
20200422	7.5%	-.2	9.3	7.1	3.5	17.6	-26.4	-29.3
20170209	7.4%	-2.1	-2.4	-3.8	-7.3	-10.8	-12.1	-10.4
20190911	7.4%	2.0	2.0	-1.0	.4	4.4	-4.3	-7.6
20200302	7.3%	-5.9	-8.1	-19.4	-38.3	-41.2	-43.0	-29.0
20161114	7.2%	-1.7	1.1	3.7	1.7	3.1	4.2	5.4
20181128	6.9%	1.6	-1.4	-.8	-.8	-4.4	-5.9	-10.0
20200622	6.6%	-2.8	-7.3	-1.4	2.2	-3.0	-6.5	-5.7
20170508	6.3%	-1.4	-4.7	-5.3	-5.1	-4.9	-6.8	-5.2
20180216	6.3%	.0	1.9	5.5	16.3	11.6	19.9	17.7
20161109	6.1%	.0	3.6	6.5	9.2	7.1	8.6	9.7
20170207	6.1%	.6	5.0	5.0	4.4	-1.4	-1.5	-5.6
20170420	6%	4.3	5.5	4.7	4.7	8.1	4.5	3.8
20160805	5.8%	1.8	-2.6	-8.2	.0	2.9	4.0	1.4
20161004	5.8%	1.4	5.6	2.8	-1.0	-1.2	-1.6	-1.9
20201029	5.8%	1.8	13.0	14.0	19.9	30.4	33.4	22.4
20161108	5.7%	6.2	11.8	13.4	17.2	18.3	13.3	14.8
20180222	5.7%	3.8	4.0	17.9	12.5	15.1	18.4	19.6
20180207	5.6%	-1.3	-1.1	9.0	5.0	12.1	16.5	32.3
20190930	5.6%	-7.3	-6.5	-10.2	-8.0	-6.5	-5.1	-6.0
20200612	5.6%	-.4	-3.9	-5.7	-10.0	-4.3	-.8	-5.9
20200417	5.5%	-4.5	-1.2	8.1	6.0	2.4	16.4	-27.2
20160819	5.4%	1.2	1.4	1.8	.3	13.9	18.9	13.9
20171211	5.4%	4.4	12.3	13.6	10.6	7.2	7.0	4.2
20201007	5.4%	-1.7	-10.8	-6.6	-4.6	-6.0	-9.3	-2.1
20200310	5.2%	-5.8	-27.8	-31.2	-33.3	-16.9	-29.8	-30.5
20161216	5.1%	-4.0	-5.3	-4.3	-6.6	-1.3	-4.0	-7.0
20170728	5.1%	1.8	2.5	-1.0	-3.3	-4.6	-7.2	-2.6
20200520	5%	3.8	3.4	3.0	9.5	14.2	-1.5	4.4
20200416	-5.2%	5.5	4.4	13.6	17.7	6.7	18.2	-22.5
20201125	-5.2%
20190520	-5.3%	-3.3	-4.2	-5.2	.5	4.3	6.0	5.3
20200619	-5.3%	6.7	1.9	4.8	5.6	7.3	.2	5.0
20201201	-5.3%
20160913	-5.4%	3.7	-2.2	4.3	1.1	-7.0	3.8	8.0
20170316	-5.4%	-2.3	-2.6	-4.9	-5.9	-7.2	-6.0	-15.7
20200610	-5.4%	-10.4	-5.0	-13.9	-13.0	-11.0	-9.1	-9.3
20160816	-5.5%	3.8	10.3	10.4	10.9	9.2	24.1	29.5
20160718	-5.6%	-1.0	-1.5	-4.5	7.3	1.5	9.6	8.2
20200311	-5.7%	-14.0	-32.4	-31.5	-22.4	-2.7	-22.9	-24.4
20200513	-5.7%	-.8	-4.7	3.3	7.2	2.7	8.6	16.4
20200303	-5.9%	1.0	-13.7	-26.4	-42.1	-41.3	-33.5	-16.7
20200415	-5.9%	-5.3	-8.0	-.3	13.4	5.7	2.7	-22.1
20200320	-6%	-.9	30.0	24.7	-.4	29.8	29.4	19.7
20200221	-6.1%	-2.1	-29.2	-20.3	-22.1	-31.7	-47.7	-50.2
20201013	-6.1%	4.7	.9	2.8	4.0	3.5	14.9	15.8
20201130	-6.1%
20171107	-6.6%	1.7	7.3	1.1	2.3	-2.6	-12.4	-18.4
20200921	-6.6%	2.1	6.6	8.0	21.5	26.1	14.4	19.7
20191125	-6.7%	1.6	.5	.4	3.9	5.9	4.0	2.8
20181024	-7.2%	-1.8	2.1	4.3	8.3	4.0	.7	-.2
20190430	-7.2%	-2.0	-.2	14.8	18.4	14.2	1.7	3.5
20191001	-7.3%	-.4	-4.0	-3.0	1.6	1.3	3.3	2.0
20200519	-7.3%	5.0	8.4	11.2	6.9	19.3	15.5	8.8
20201028	-7.6%	5.8	14.3	18.2	26.9	33.2	41.2	36.8
20171127	-7.8%	1.7	-10.6	-15.9	-8.0	3.8	3.7	1.8
20180307	-8%	2.7	5.0	8.1	9.2	9.6	12.4	12.7
20171205	-8.5%	1.2	10.7	24.9	24.8	22.4	22.2	20.4
20160802	-9.5%	3.4	12.8	7.8	1.7	10.8	14.0	15.2
20200611	-10.4%	5.6	2.7	2.5	-2.1	.6	1.5	3.1
20150202	-11.3%	-21.3	-24.0	-24.5	-31.0	-30.7	-31.9	-30.9
20200403	-11.4%	8.0	34.7	34.9	26.9	25.5	36.6	41.5
20200309	-11.6%	5.3	-12.0	-36.0	-32.6	-11.6	-15.2	-32.3
20200317	-11.7%	-4.6	.4	31.7	26.3	1.0	31.5	31.2
20200331	-12.1%	-12.8	-13.7	7.6	7.8	1.4	.3	9.1
20200401	-12.7%	3.5	1.4	23.4	16.2	11.0	14.8	25.7
20200316	-13.6%	-11.7	-10.5	1.4	27.0	.7	-1.4	20.0
20191113	-13.8%	-4.3	-4.8	.8	-3.8	-4.4	-3.7	-3.0
20200312	-14%	3.2	-25.0	-21.0	3.6	-.6	-20.6	3.5
20160707	-21.2%	-4.6	-4.5	-9.5	-13.0	-12.2	-5.5	-9.2
20200227	-27.1%	11.5	13.8	-2.8	-17.1	-34.8	-33.9	-25.1
20200512	-33%	-5.8	-3.1	-2.1	-2.5	-2.9	3.3	7.7
20150130	-46.4%	-11.3	-34.5	-34.0	-37.5	-37.7	-39.6	-32.2

Table 10a. ADES average price changes following a 5% up day

Of the 1,175 trading days from 2015 to 2020, there were 47 days in which ADES was up more than 5%. This table shows the average price changes over the 47 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 5%	-.0	-.6	-.6	-.8	-.8	-1.7	-2.2

Table 10b. ADES average price changes following a 5% down day

Of the 1,175 trading days from 2015 to 2020, there were 44 days in which ADES was down more than -5%. This table shows the average price changes over the 44 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -5%	-.9	-2.1	.1	1.0	.5	1.3	1.4

28 stocks with statistics: AAPL, AMD, AMZN, APPN, AZN, BA, BAC, BIIB, CRM, CSCO, CX, DIS, FB, GE, GM, GOOG, IBM, INTC, JPM, JPM, MSFT, MU, NFLX, O, QQQ, SPY, T, TSLA,

Also see: VIX price movement study.