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

<ul>
<li>Since late-February(2/25/25) we were expecting an 8-10% pullback to provide a buying opportunity.However,after getting the 10%+ pullback, we discussed 4/1/25 that we no longer saw it as a buying opportunity</li>
<li>We downgraded our outlook to bearish/cautious. We then discussed last week(4/8/25)how it was a logical spot for a local bottom to develop at 4800-4820 on SPX and $402-$412 on QQQ. </li>
<li>A rally sparked from there, but we now are looking for SPX rally to fizzle, either here at 5490-5500 (20-day MA) or the 200-day MA (currently 5754) or 5785 level</li>
</ul>


Since late-February(2/25/25) we were expecting an 8-10% pullback to provide a buying opportunity.However,after getting the 10%+ pullback, we discussed 4/1/25 that we no longer saw it as a buying opportunity
We downgraded our outlook to bearish/cautious. We then discussed last week(4/8/25)how it was a logical spot for a local bottom to develop at 4800-4820 on SPX and $402-$412 on QQQ. 
A rally sparked from there, but we now are looking for SPX rally to fizzle, either here at 5490-5500 (20-day MA) or the 200-day MA (currently 5754) or 5785 level


Expecting SPX Rally to Fizzle at 5490-5500 or 5785; Still Bearish/Cautious and Defensive

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>Celsius Holdings Inc.'s third-quarter 2024 earnings reveal a mixture of growth opportunities and challenges.</li><li>The energy drink company has managed to maintain robust consumer demand and retail sales growth despite a dip in total revenue compared to the previous year.</li><li>The company recorded a modest 7.1% increase in retail sales year-over-year for the quarter, with unit sales rising by 7.3%.</li></ul>

Celsius Holdings Inc.'s third-quarter 2024 earnings reveal a mixture of growth opportunities and challenges.The energy drink company has managed to maintain robust consumer demand and retail sales growth despite a dip in total revenue compared to the previous year.The company recorded a modest 7.1% increase in retail sales year-over-year for the quarter, with unit sales rising by 7.3%.

Celsius Holdings Inc.: Expanding Distribution Partnerships For A Competitive Edge! - Major Drivers

<ul><li>Celsius Holdings, Inc. recently presented its financial outcomes for the second quarter of 2024, reflecting both growth and challenges amidst a competitive and macroeconomically complex landscape.</li><li>The company achieved significant revenue growth, with a 23% year-over-year increase to $402 million for the quarter, and a 29% increase for the first half of the year to $757.7 million.</li><li>This growth was bolstered by notable international expansion, where revenues increased by 30% to $19.6 million.</li></ul>

Celsius Holdings, Inc. recently presented its financial outcomes for the second quarter of 2024, reflecting both growth and challenges amidst a competitive and macroeconomically complex landscape.The company achieved significant revenue growth, with a 23% year-over-year increase to $402 million for the quarter, and a 29% increase for the first half of the year to $757.7 million.This growth was bolstered by notable international expansion, where revenues increased by 30% to $19.6 million.

Celsius Holdings: These Are The 6 Pivotal Factors Driving Its Performance In 2025 & Beyond! - Financial Forecasts

<ul><li>Celsius Holdings, Inc., a global company dealing in the production and distribution of energy drinks, recently released its Q1 2024 earnings.</li><li>The company reported a year-over-year increase in revenue by 37% for Q1 2024, summing to $355.7 million, thereby establishing a new first-quarter revenue record.</li><li>However, the company reported that its revenue would have been higher were it not for the inventory movements by its largest customer.</li></ul>

Celsius Holdings, Inc., a global company dealing in the production and distribution of energy drinks, recently released its Q1 2024 earnings.The company reported a year-over-year increase in revenue by 37% for Q1 2024, summing to $355.7 million, thereby establishing a new first-quarter revenue record.However, the company reported that its revenue would have been higher were it not for the inventory movements by its largest customer.

Celsius Holdings:  Market Entry Into Australia & New Zealand & Other Pivotal Drivers

<ul><li>This is our first report on beverage major, Celsius.</li><li>The company reported a strong fiscal year for 2023, which included nearly complete distribution coverage in the United States and over 102% growth in yearly revenue, reaching around $1.3 billion.</li><li>The company's share gains have resulted in it breaking the 10-share barrier in the energy drink market for the first time in over a decade.</li></ul>

This is our first report on beverage major, Celsius.The company reported a strong fiscal year for 2023, which included nearly complete distribution coverage in the United States and over 102% growth in yearly revenue, reaching around $1.3 billion.The company's share gains have resulted in it breaking the 10-share barrier in the energy drink market for the first time in over a decade.

Celsius Holdings: Initiation Of Coverage - Position in the Competitive Energy Drink Landscape & Other Key Drivers

United States

Celsius Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, provides thermogenic calorie-burning beverages. The Company markets its beverages multiple channels including grocery, drug, convenience stores, gyms, and nutrition stores. Celsius Holdings serves clients in the United States.

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Celsius Holdings (CELH US)

Expecting SPX Rally to Fizzle at 5490-5500 or 5785; Still Bearish/Cautious and Defensive

Expecting $SPX Rally to Fizzle at 5490-5500 or 5785; Still Bearish/Cautious and Defensive. Crucial long-term SPX and $QQQ supports at 4800-4820 and...

Vermilion Research

Celsius Holdings Inc.: Expanding Distribution Partnerships For A Competitive Edge! - Major Drivers

Celsius Holdings Inc.'s third-quarter 2024 earnings reveal a mixture of growth opportunities and challenges. The energy drink company has managed...

Baptista Research

Celsius Holdings: These Are The 6 Pivotal Factors Driving Its Performance In 2025 & Beyond! - Financial Forecasts

Celsius Holdings, Inc. recently presented its financial outcomes for the second quarter of 2024, reflecting both growth and challenges amidst a...

Baptista Research

Celsius Holdings: Market Entry Into Australia & New Zealand & Other Pivotal Drivers

Celsius Holdings, Inc., a global company dealing in the production and distribution of energy drinks, recently released its Q1 2024 earnings. The...

Baptista Research

Celsius Holdings: Initiation Of Coverage - Position in the Competitive Energy Drink Landscape & Other Key Drivers

This is our first report on beverage major, Celsius. The company reported a strong fiscal year for 2023, which included nearly complete...

Baptista Research

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