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

Technology Select Sector SPDR / Technical Analysis

The S&amp;P 500 remains just short of formidable resistance at its 200-day MA. Yet, there are signs of continued breadth improvement.  Technology in particular continues to top our Sector RSR rankings, fueled by strengthening price and RS action for semiconductors, semi-suppliers, and numerous Software groups. Last week we upgraded our weighting for Technology and its strength continues to broaden out. In this week's report we highlight a number of actionable Technology stocks across our various Groups.

The S&amp;P 500 remains just short of formidable resistance at its 200-day MA. Yet, there are signs of continued breadth improvement.  Technology in particular continues to top our Sector RSR rankings, fueled by strengthening price and RS action for semiconductors, semi-suppliers, and numerous Software groups. Last week we upgraded our weighting for Technology and its strength continues to broaden out. In this week's report we highlight a number of actionable Technology stocks across our various Groups.

U.S. Tech Stocks Are Leading Market Higher.

The S&amp;P 500 has paused just below logical resistance at the downtrend, and we believe the equity market is in wait-and-see mode for incremental information on a variety of issues including trade talks, Fed action and earnings.  Meanwhile, We are upgrading equal-weighted Technology to overweight. Our equal-weighted Tech Sector has surged to the top of our RSR ranks due to broad-based strength in semiconductors last week. Solar stocks are another Group that is emerging as leadership. In today’s report we highlight attractive small-cap Technology stocks, as well as selection of key stocks (MSFT, AMZN, GOOGL, V, NFLX, and ADBE) and subsectors (semis, biotech, and homebuilders) which are all up against logical price resistance.

The S&amp;P 500 has paused just below logical resistance at the downtrend, and we believe the equity market is in wait-and-see mode for incremental information on a variety of issues including trade talks, Fed action and earnings.  Meanwhile, We are upgrading equal-weighted Technology to overweight. Our equal-weighted Tech Sector has surged to the top of our RSR ranks due to broad-based strength in semiconductors last week. Solar stocks are another Group that is emerging as leadership. In today’s report we highlight attractive small-cap Technology stocks, as well as selection of key stocks (MSFT, AMZN, GOOGL, V, NFLX, and ADBE) and subsectors (semis, biotech, and homebuilders) which are all up against logical price resistance.

U.S. Equity Strategy: Market in Wait-And-See Mode; Upgrading Tech

US-EU Index Rebalances / Quantitative Researcher

Dimitris Ioannidis

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.

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vertiv-holdings-co" target="_blank" data-smartkarma-citation="entities:33140:1" rel="noopener">Vertiv Holdings Co (VRT US)</a> and <a href="https://www.smartkarma.com/entities/coherent-corp" target="_blank" data-smartkarma-citation="entities:9518:1" rel="noopener">Coherent (COHR US)</a> are the main candidates for addition, based on high eligibility scores.</li>
<li>
<a href="https://www.smartkarma.com/entities/marvell-technology-inc" target="_blank" data-smartkarma-citation="entities:15837:1" rel="noopener">Marvell Technology (MRVL US)</a> and <a href="https://www.smartkarma.com/entities/lumentum-holdings-inc" target="_blank" data-smartkarma-citation="entities:12529:1" rel="noopener">Lumentum Holdings (LITE US)</a> face reduced conviction due to tech-sector balance.</li>
<li>
<a href="https://www.smartkarma.com/entities/echostar-corp-a" target="_blank" data-smartkarma-citation="entities:3225:1" rel="noopener">Echostar Corp A (SATS US)</a> faces reduced conviction because of earnings and float cap.</li>
</ul>



Vertiv Holdings Co (VRT US) and Coherent (COHR US) are the main candidates for addition, based on high eligibility scores.

Marvell Technology (MRVL US) and Lumentum Holdings (LITE US) face reduced conviction due to tech-sector balance.

Echostar Corp A (SATS US) faces reduced conviction because of earnings and float cap.


S&P500 March 2026 Forecast: VRT, COHR & SATS Leading the Pack

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>Ciena Corporation has taken a bold step in shaping the next chapter of its evolution by announcing the acquisition of Nubis Communications, a privately-held company focused on high-speed optical interconnects, in an all-cash transaction worth $270 million.</li><li>Set to close during Ciena’s fiscal fourth quarter of 2025, the acquisition marks a significant pivot in the company’s strategy to dominate the AI-driven networking infrastructure space.</li><li>In parallel with this deal, Ciena also disclosed new employee retention plans aimed at preserving key talent at Nubis, underscoring the importance of human capital in this transaction.</li></ul>

Ciena Corporation has taken a bold step in shaping the next chapter of its evolution by announcing the acquisition of Nubis Communications, a privately-held company focused on high-speed optical interconnects, in an all-cash transaction worth $270 million.Set to close during Ciena’s fiscal fourth quarter of 2025, the acquisition marks a significant pivot in the company’s strategy to dominate the AI-driven networking infrastructure space.In parallel with this deal, Ciena also disclosed new employee retention plans aimed at preserving key talent at Nubis, underscoring the importance of human capital in this transaction.

Ciena’s $270 Million Bet: What The Nubis Deal Could Mean For The Future Of AI Networking Infrastructure!

<ul><li>Ciena Corporation delivered strong results in its fiscal third quarter of 2025, showcasing significant top-line growth and improved profitability metrics.</li><li>The company reported revenues of $1.22 billion, outpacing the high end of its guidance and representing a 30% increase year-over-year.</li><li>The gains were driven by broad-based demand, particularly from cloud providers and service providers, with reported strong orders setting a new quarterly record for Ciena.</li></ul>

Ciena Corporation delivered strong results in its fiscal third quarter of 2025, showcasing significant top-line growth and improved profitability metrics.The company reported revenues of $1.22 billion, outpacing the high end of its guidance and representing a 30% increase year-over-year.The gains were driven by broad-based demand, particularly from cloud providers and service providers, with reported strong orders setting a new quarterly record for Ciena.

Ciena Corporation: Expansion of Interconnect Pluggable Business As a Key To Doubling Revenue From This Segment In Consecutive Years!

United States

Ciena Corporation develops and markets communications network platforms and software, and offers professional services.  The Company's broadband access, data and optical networking platforms, software tools, and global network services support worldwide telecom and cable/MSO services providers, and enterprise and government networks.

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Ciena Corp (CIEN US)

U.S. Tech Stocks Are Leading Market Higher.

The S&P 500 remains just short of formidable resistance at its 200-day MA. Yet, there are signs of continued breadth improvement. Technology...

Vermilion Research

U.S. Equity Strategy: Market in Wait-And-See Mode; Upgrading Tech

The S&P 500 has paused just below logical resistance at the downtrend, and we believe the equity market is in wait-and-see mode for incremental...

Vermilion Research

S&P500 March 2026 Forecast: VRT, COHR & SATS Leading the Pack

Announced additions: VRT, COHR, SATS and LITE. Following the announcement, all four are trading higher in after hours by 5.2%, 0.7%, 3.2%, and...

Dimitris Ioannidis

Ciena’s $270 Million Bet: What The Nubis Deal Could Mean For The Future Of AI Networking Infrastructure!

Ciena Corporation has taken a bold step in shaping the next chapter of its evolution by announcing the acquisition of Nubis Communications, a...

Baptista Research

Ciena Corporation: Expansion of Interconnect Pluggable Business As a Key To Doubling Revenue From This Segment In Consecutive Years!

Ciena Corporation delivered strong results in its fiscal third quarter of 2025, showcasing significant top-line growth and improved profitability...

Baptista Research

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