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

Market Intelligence, ORTEX

ORTEX Market Intel

Market Intelligence

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Equity Derivatives

<ul><li>Sentiment read - Options activity split sharply this week.</li><li>Earnings-driven put buying dominated in EDA software, construction, and biotech.</li><li>On the other side, banks and energy names saw aggressive call buying - several hitting 52-week PCR lows before results.</li></ul>

Sentiment read - Options activity split sharply this week.Earnings-driven put buying dominated in EDA software, construction, and biotech.On the other side, banks and energy names saw aggressive call buying - several hitting 52-week PCR lows before results.

Options Weekly: Earnings Fear and Bullish Bets Dominate Options Week

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

<ul><li>BridgeBio Pharma delivered strong second-quarter results, emphasizing significant progress in both its commercial operations and pipeline development.</li><li>The company's lead product, Attruby, used in the treatment of ATTR cardiomyopathy, exhibited robust growth.</li><li>In Q2 2025, Attruby generated $78 million in global sales, with $71.5 million from U.S. net sales, reflecting 100% growth over the previous quarter.</li></ul>

BridgeBio Pharma delivered strong second-quarter results, emphasizing significant progress in both its commercial operations and pipeline development.The company's lead product, Attruby, used in the treatment of ATTR cardiomyopathy, exhibited robust growth.In Q2 2025, Attruby generated $78 million in global sales, with $71.5 million from U.S. net sales, reflecting 100% growth over the previous quarter.

BridgeBio Pharmaceuticals: Initiation Of Coverage- A Closer Look At Its Scientific Advancements & Pipeline Developments!

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kyowa-kirin-co-ltd" target="_blank" data-smartkarma-citation="entities:18055:1" rel="noopener">Kyowa Kirin Co Ltd (4151 JP)</a> has announced partnership with <a href="https://www.smartkarma.com/entities/bridgebio-pharma-inc" target="_blank" data-smartkarma-citation="entities:28746:1" rel="noopener">Bridgebio Pharma Inc (BBIO US)</a> for an exclusive license on infigratinib for achondroplasia, hypochondroplasia, and other skeletal dysplasias in Japan.</li>
<li>This month, Kyowa Kirin has enrolled first patient in a Phase 2 clinical trial evaluating tivozanib eye drops (KHK4951) in patients with diabetic macular edema (DME).</li>
<li>The company’s top selling drug Crysvita is growing steadily since launch. Crysvita led to better-than-expected result in 2023. However, higher R&amp;D expenses will negatively impact 2024 operating profit.</li>
</ul>



Kyowa Kirin Co Ltd (4151 JP) has announced partnership with Bridgebio Pharma Inc (BBIO US) for an exclusive license on infigratinib for achondroplasia, hypochondroplasia, and other skeletal dysplasias in Japan.
This month, Kyowa Kirin has enrolled first patient in a Phase 2 clinical trial evaluating tivozanib eye drops (KHK4951) in patients with diabetic macular edema (DME).
The company’s top selling drug Crysvita is growing steadily since launch. Crysvita led to better-than-expected result in 2023. However, higher R&amp;D expenses will negatively impact 2024 operating profit.


Kyowa Kirin (4151 JP): Recent Portfolio Strengthening Initiatives to Accelerate Long-Term Growth

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zydus-lifesciences-ltd" target="_blank" data-smartkarma-citation="entities:12914:1" rel="noopener">Zydus Lifesciences Ltd (ZYDUSLIF IN)</a> reported stable Q1FY23 results, with its U.S. business witnessing healthy rebound supported by volume share gain in base portfolio and new product launches.</li>
<li>Excluding COVID-related products, generics portfolio, and divested products, India branded prescription business grew 9% y/y. India consumer wellness business rebounded with 18% y/y revenue growth.</li>
<li>Zydus aims to grow across all our key businesses in FY23. Through cost control and improved efficiencies across the value chain, Zydus aspires to achieve 20%+ EBITDA margin for FY23.</li>
</ul>



Zydus Lifesciences Ltd (ZYDUSLIF IN) reported stable Q1FY23 results, with its U.S. business witnessing healthy rebound supported by volume share gain in base portfolio and new product launches.
Excluding COVID-related products, generics portfolio, and divested products, India branded prescription business grew 9% y/y. India consumer wellness business rebounded with 18% y/y revenue growth.
Zydus aims to grow across all our key businesses in FY23. Through cost control and improved efficiencies across the value chain, Zydus aspires to achieve 20%+ EBITDA margin for FY23.


Zydus Lifesciences Ltd (ZYDUSLIF IN): Q1FY23 Results Review- Showing Early Sign of Improvement in US

United States

Bridgebio Pharma, Inc. operates as a bio technology company. The Company focuses on development of medicines for genetic diseases. Bridgebio Pharma serves patients worldwide.

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Bridgebio Pharma Inc (BBIO 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

Options Weekly: Earnings Fear and Bullish Bets Dominate Options Week

Sentiment read - Options activity split sharply this week. Earnings-driven put buying dominated in EDA software, construction, and biotech. On the...

ORTEX Market Intel

BridgeBio Pharmaceuticals: Initiation Of Coverage- A Closer Look At Its Scientific Advancements & Pipeline Developments!

BridgeBio Pharma delivered strong second-quarter results, emphasizing significant progress in both its commercial operations and pipeline...

Baptista Research

Kyowa Kirin (4151 JP): Recent Portfolio Strengthening Initiatives to Accelerate Long-Term Growth

Kyowa Kirin partners with Bridgebio for infigratinib in Japan and enrolls first patient in Phase 2 trial for tivozanib eye drop for DME. Higher...

Tina Banerjee

Zydus Lifesciences Ltd (ZYDUSLIF IN): Q1FY23 Results Review- Showing Early Sign of Improvement in US

Zydus reported 10% q/q revenue growth from US business, aided by volume share gain of base business and new product launches. The company expects...

Tina Banerjee

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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

Options Weekly: Earnings Fear and Bullish Bets Dominate Options Week

Sentiment read - Options activity split sharply this week. Earnings-driven put buying dominated in EDA software, construction, and biotech. On the...

ORTEX Market Intel

BridgeBio Pharmaceuticals: Initiation Of Coverage- A Closer Look At Its Scientific Advancements & Pipeline Developments!

BridgeBio Pharma delivered strong second-quarter results, emphasizing significant progress in both its commercial operations and pipeline...

Baptista Research

Kyowa Kirin (4151 JP): Recent Portfolio Strengthening Initiatives to Accelerate Long-Term Growth

​Kyowa Kirin partners with Bridgebio for infigratinib in Japan and enrolls first patient in Phase 2 trial for tivozanib eye drop for DME. Higher...

Tina Banerjee

Zydus Lifesciences Ltd (ZYDUSLIF IN): Q1FY23 Results Review- Showing Early Sign of Improvement in US

Zydus reported 10% q/q revenue growth from US business, aided by volume share gain of base business and new product launches. The company expects...

Tina Banerjee

Kyowa Kirin partners with Bridgebio for infigratinib in Japan and enrolls first patient in Phase 2 trial for tivozanib eye drop for DME. Higher...