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

Rex American Resources / Technical Analysis

<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 outlook as long as market dynamics remain healthy and the SPX is above 6028-6059. Short-term supports on SPX include 6400-6410, 6200, 6100-6150, and 6028-6059.</li>
<li>SPX is testing 6400-6410 now, but QQQ and IWM are violating short-term supports at $572 and $226, respectively. This makes us believe we could see some near-term downside; buy pullbacks.</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 outlook as long as market dynamics remain healthy and the SPX is above 6028-6059. Short-term supports on SPX include 6400-6410, 6200, 6100-6150, and 6028-6059.
SPX is testing 6400-6410 now, but QQQ and IWM are violating short-term supports at $572 and $226, respectively. This makes us believe we could see some near-term downside; buy pullbacks.


Staying Bullish Despite Near-Term Pullback Potential; Buy Pullbacks

Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

Equity Bottom-Up

Aurinia Pharmaceuticals  / Equity Bottom-Up

<ul><li>Our estimations for 2023 annual revenue range around $157 million and for 2024 around $205 million.</li><li>The com- pany’s annual revenue reached $134.03 million in 2022 compared to $45.60 million in 2021, posting an increase by 194%.</li><li>Aurinia’s gross profit for 2022 was $128 million, increased by 188% compared to $45 million for the corresponding period of 2021.</li></ul>

Our estimations for 2023 annual revenue range around $157 million and for 2024 around $205 million.The com- pany’s annual revenue reached $134.03 million in 2022 compared to $45.60 million in 2021, posting an increase by 194%.Aurinia’s gross profit for 2022 was $128 million, increased by 188% compared to $45 million for the corresponding period of 2021.

Company Update - Aurinia Pharmaceuticals Inc.

Canada

Aurinia Pharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the discovery and development of immunosuppressive therapeutics.

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Aurinia Pharmaceuticals (AUPH US)

Staying Bullish Despite Near-Term Pullback Potential; Buy Pullbacks

Buying a pullback; SPX testing 6400-6410 now, but QQQ and IWM are violating short-term supports at $572 and $226. This makes us believe we could...

Vermilion Research

Company Update - Aurinia Pharmaceuticals Inc.

Aurinia’s gross profit for 2022 was $128 million, increased by 188% compared to $45 million for the corresponding period of 2021.

VRS (Valuation & Research Specialists)

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