Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

TSMC (Taiwan Semiconductor Manufacturing) / Technical Analysis

TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Our global intermediate-term outlook remains bullish on MSCI ACWI (in place since our 5/14/25 Compass).</li>
<li>We also remain near-term bullish on MSCI ACWI since our 4/23/26 Int’l Compass. There is no reason to be anything but bullish as long as ACWI-US is above $158-$159,...</li>
<li>...MSCI ACWI ex-U.S. (ACWX-US) is above $76.50, MSCI EAFE (EFA-US) is above its 6-month base at $105-$105.50, and MSCI EM (EEM-US) is above $63-$63.50.</li>
</ul>


Our global intermediate-term outlook remains bullish on MSCI ACWI (in place since our 5/14/25 Compass).
We also remain near-term bullish on MSCI ACWI since our 4/23/26 Int’l Compass. There is no reason to be anything but bullish as long as ACWI-US is above $158-$159,...
...MSCI ACWI ex-U.S. (ACWX-US) is above $76.50, MSCI EAFE (EFA-US) is above its 6-month base at $105-$105.50, and MSCI EM (EEM-US) is above $63-$63.50.


Opportunity in A.I. Names, Energy, and Materials; Bullish Outlook Intact as $ACWI Tests $158-$159

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
  <li>
<a href="https://smartkarma.com/entities/aspeed-technology-inc">Aspeed Technology</a> is the dominant global leader in the Baseboard Management Controller (BMC) SoC market, with an estimated 70% market share. This positions the company to capitalize on the secular growth trends in data centers and AI servers.</li>
  <li>The company is experiencing robust revenue and earnings growth, driven by the increasing demand for servers, particularly high-end AI servers which require more sophisticated and higher-ASP BMCs. Strong demand from cloud service providers is a key catalyst.</li>
  <li>Aspeed has a strong financial track record of profitable growth and cash flow generation, enabling consistent dividend payments and investment in R&amp;D for next-generation products, such as its upcoming 12-nanometer BMC.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
Aspeed Technology is the dominant global leader in the Baseboard Management Controller (BMC) SoC market, with an estimated 70% market share. This positions the company to capitalize on the secular growth trends in data centers and AI servers.
  The company is experiencing robust revenue and earnings growth, driven by the increasing demand for servers, particularly high-end AI servers which require more sophisticated and higher-ASP BMCs. Strong demand from cloud service providers is a key catalyst.
  Aspeed has a strong financial track record of profitable growth and cash flow generation, enabling consistent dividend payments and investment in R&amp;D for next-generation products, such as its upcoming 12-nanometer BMC.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Aspeed Technology (5274 TT) - Apr 2026

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of MS-Taiwan in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on TSMC, UMC, Nanya Technology, Quanta Computer, Phison Electronics, Wiwynn, Formosa Plastics.</li>
</ul>


We analysed the earning revision of component stocks of MS-Taiwan in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on TSMC, UMC, Nanya Technology, Quanta Computer, Phison Electronics, Wiwynn, Formosa Plastics.


MS-Taiwan Index Earning Revision (Sep): TSMC, UMC, Nanya Technology, Quanta Computer, Wiwynn

<ul>
<li>We discussed in last week's June 19 report how bullish price and RS trends on Israel's TA-125 was our tell that global equities were looking past Israel-Iran tensions.</li>
<li>Now completely in the rear-view mirror.  We also discussed how we were expecting short-term support on ACWI-US at $123-$123.50 (6.5-month base support), and ACWI-US bottomed at $123.20 on Monday.</li>
<li>As a result, we remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
</ul>


We discussed in last week's June 19 report how bullish price and RS trends on Israel's TA-125 was our tell that global equities were looking past Israel-Iran tensions.
Now completely in the rear-view mirror.  We also discussed how we were expecting short-term support on ACWI-US at $123-$123.50 (6.5-month base support), and ACWI-US bottomed at $123.20 on Monday.
As a result, we remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).


Downgrading Germany and Ireland; Global Technology Still Leading; Crucial Base Supports Holding

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
<li>We will maintain our bullish view as long as market dynamics remain healthy and the SPX and ACWI-US are above 5700-5785 and $119-$121.</li>
<li>$123-$123.50 remains short-term support to watch on ACWI-US (6.5-month base); we would expect support here on a pullback, but a break below it would likely mean a test of $119-$121</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
We will maintain our bullish view as long as market dynamics remain healthy and the SPX and ACWI-US are above 5700-5785 and $119-$121.
$123-$123.50 remains short-term support to watch on ACWI-US (6.5-month base); we would expect support here on a pullback, but a break below it would likely mean a test of $119-$121


Israel TA-125 Remains Bullish; Buys in Norway; All MSCI Global Indexes Above Base Supports

Taiwan

ASPEED Technology Inc. is a fabless IC-design house that specializes in server management, PC/AV extensions solution, desktop virtualization and security enhancement. The Company's products range from silicon chips, IPs to software products that enable sophisticated SOC- centric multimedia, praphics and new work applications.

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Aspeed Technology (5274 TT)

Opportunity in A.I. Names, Energy, and Materials; Bullish Outlook Intact as $ACWI Tests $158-$159

Premarket Report: Opportunity in A.I. Names, Energy, and Materials; Bullish Outlook Intact as $ACWI Tests $158-$159. $SOXX $CHAT $DRAM

Vermilion Research

Primer: Aspeed Technology (5274 TT) - Apr 2026

Aspeed Technology is the dominant global leader in the Baseboard Management Controller (BMC) SoC market, with an estimated 70% market share....

αSK Primers

MS-Taiwan Index Earning Revision (Sep): TSMC, UMC, Nanya Technology, Quanta Computer, Wiwynn

We analyzed MS-Taiwan's consensus for Sep 2026 and highlighted changes of EPS in TSMC, UMC, Nanya Technology, Quanta Computer, Phison Electronics,...

Ke Yan, CFA, FRM

Downgrading Germany and Ireland; Global Technology Still Leading; Crucial Base Supports Holding

Downgrading Germany and Ireland; Global Technology Still Leading; Crucial Base Supports Holding on $ACWI ($123-123.50), $EEM ($46)

Vermilion Research

Israel TA-125 Remains Bullish; Buys in Norway; All MSCI Global Indexes Above Base Supports

Israel TA-125 Remains Bullish; Buys in Norway; All MSCI Global Indexes Above Base Supports $ACWI, $ACWX, ACWI ex-US Small-Caps, $EEM, and $EFA....

Vermilion Research

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