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

<p>Our biggest concerns have stemmed from a handful of large-cap China internet names, which have held back the MSCI EM and Hang Seng indexes. We are also getting a breakout above $93.50-93.75 on the US dollar, a concerning risk-off signal. Still, our list of concerns remains short, and our outlook remains neutral yet constructive overall.</p>

Our biggest concerns have stemmed from a handful of large-cap China internet names, which have held back the MSCI EM and Hang Seng indexes. We are also getting a breakout above $93.50-93.75 on the US dollar, a concerning risk-off signal. Still, our list of concerns remains short, and our outlook remains neutral yet constructive overall.

Global Cyclical Value Sectors Improving -- Buying Financials and Energy Names: ING Groep, Many More

GigaDevice Semiconductor  / Technical Analysis

<p>Market dynamics remain largely positive which continues to support our constructive outlook, and we view recent weakness as a buying opportunity. Below we highlight notable recent developments and actionable stocks within the Technology, Financials, and Materials Sectors.</p>

Market dynamics remain largely positive which continues to support our constructive outlook, and we view recent weakness as a buying opportunity. Below we highlight notable recent developments and actionable stocks within the Technology, Financials, and Materials Sectors.

China Technology Sector Improving -- Add Exposure

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Banco Bilbao Vizcaya Argentari / Equity Bottom-Up

<ul><li>Banco Bilbao Vizcaya Argentaria (BBVA) has reported robust second-quarter 2025 financial results alongside new medium-term strategic objectives.</li><li>Despite currency depreciation challenges, the bank increased its tangible book value per share plus dividends by 14.6% year-over-year and 2.9% during the quarter.</li><li>BBVA’s return on tangible equity stood at a notable 20.4%, with a return on equity of 19.5% over the first half of 2025.</li></ul>

Banco Bilbao Vizcaya Argentaria (BBVA) has reported robust second-quarter 2025 financial results alongside new medium-term strategic objectives.Despite currency depreciation challenges, the bank increased its tangible book value per share plus dividends by 14.6% year-over-year and 2.9% during the quarter.BBVA’s return on tangible equity stood at a notable 20.4%, with a return on equity of 19.5% over the first half of 2025.

BBVA’s Interest Rate Game Plan: What Investors Must Know for 2028!

<ul><li>Banco Bilbao Vizcaya Argentaria (BBVA) reported a strong first quarter, showcasing robust financial growth and strategic advancements, though there are areas for investor consideration.</li><li>On the positive side, BBVA displayed significant improvements in key financial metrics.</li><li>The tangible book value per share plus dividends increased by 14.1% year-over-year, indicating strong shareholder returns.</li></ul>

Banco Bilbao Vizcaya Argentaria (BBVA) reported a strong first quarter, showcasing robust financial growth and strategic advancements, though there are areas for investor consideration.On the positive side, BBVA displayed significant improvements in key financial metrics.The tangible book value per share plus dividends increased by 14.1% year-over-year, indicating strong shareholder returns.

BBVA: Accelerating Loan Growth in Mexico as Short-Term Lending Surges 17%!

European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>Sabadell trades above the implied offer value, signaling investor expectations of a revised bid or deal failure.</li>
<li>Government-Imposed integration freeze severely impairs BBVA’s ability to realize synergies.</li>
<li>Political dependence on Catalan nationalist parties complicates execution despite formal regulatory clearance.</li>
</ul>


Sabadell trades above the implied offer value, signaling investor expectations of a revised bid or deal failure.
Government-Imposed integration freeze severely impairs BBVA’s ability to realize synergies.
Political dependence on Catalan nationalist parties complicates execution despite formal regulatory clearance.


BBVA/Sabadell: Trading Above Terms After Government Imposes Integration Freeze

Spain

Banco Bilbao Vizcaya Argentaria, S.A. attracts deposits and offers retail, wholesale, and investment banking services. The Bank offers consumer and mortgage loans, private banking, asset management, insurance, mutual funds, and securities brokerage services. Banco Bilbao Vizcaya Argentaria operates in Europe, Latin America, United States, China, and Turkey.

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Banco Bilbao Vizcaya Argentari (BBVA US)

Global Cyclical Value Sectors Improving -- Buying Financials and Energy Names: ING Groep, Many More

Continued rising rates is likely to support value Sectors moving forward (especially Financials and Energy), and it also typically indicates...

Vermilion Research

China Technology Sector Improving -- Add Exposure

Market dynamics remain largely positive which continues to support our constructive outlook, and we view recent weakness as a buying opportunity....

Vermilion Research

BBVA’s Interest Rate Game Plan: What Investors Must Know for 2028!

Banco Bilbao Vizcaya Argentaria (BBVA) has reported robust second-quarter 2025 financial results alongside new medium-term strategic...

Baptista Research

BBVA: Accelerating Loan Growth in Mexico as Short-Term Lending Surges 17%!

Banco Bilbao Vizcaya Argentaria (BBVA) reported a strong first quarter, showcasing robust financial growth and strategic advancements, though...

Baptista Research

BBVA/Sabadell: Trading Above Terms After Government Imposes Integration Freeze

BBVA’s hostile bid for Sabadell faces political resistance and integration restrictions. Sabadell trades above offer, implying market expects a...

Jesus Rodriguez Aguilar

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