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>Last week we discussed how evidence was pointing to a major low at 5500-5600 on the SPX, but now it appears more likely to just have been a local low</li>
<li>Market dynamics have continued to deteriorate to the point where we no longer see this as a buying opportunity.</li>
<li>We are cautious and would get defensive as long as the S&amp;P 500 is below 5770-5780 and its 200-day MA; we believe we are in a "sell rallies" regime</li>
</ul>


Last week we discussed how evidence was pointing to a major low at 5500-5600 on the SPX, but now it appears more likely to just have been a local low
Market dynamics have continued to deteriorate to the point where we no longer see this as a buying opportunity.
We are cautious and would get defensive as long as the S&amp;P 500 is below 5770-5780 and its 200-day MA; we believe we are in a "sell rallies" regime


Cautious Outlook; Get Defensive and Sell Rallies; Upgrading Energy; Downgrading Technology

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Equity Bottom-Up

<ul>
<li>Halliburton’s revenue is projected to decline 1.7% YoY, with EPS down 18.6%, driven by subdued upstream activity induced by oil price volatility and weak global demand.</li>
<li>Halliburton expects a 1%-3% QoQ revenue decline, and a 75-125 bps margin drop in its Completion and Production segment for Q4.</li>
<li>In contrast, revenue from its Drilling and Evaluation (D&amp;E) segment is forecasted to grow between 0% to 2%, with margins flat or improving by up to 50 bps.</li>
</ul>


Halliburton’s revenue is projected to decline 1.7% YoY, with EPS down 18.6%, driven by subdued upstream activity induced by oil price volatility and weak global demand.
Halliburton expects a 1%-3% QoQ revenue decline, and a 75-125 bps margin drop in its Completion and Production segment for Q4.
In contrast, revenue from its Drilling and Evaluation (D&amp;E) segment is forecasted to grow between 0% to 2%, with margins flat or improving by up to 50 bps.


[Earnings Preview] Halliburton Expected to Post Subdued Q4 Results on Tepid Upstream Activity

<ul>
<li>Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.</li>
<li>Two weeks ago, our election day report (11/5/24) was titled "Buy the Pullback," and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it's time to buy the pullback <em>again</em>.</li>
<li>We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).</li>
</ul>


Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.
Two weeks ago, our election day report (11/5/24) was titled "Buy the Pullback," and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it's time to buy the pullback again.
We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).


Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

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.

<ul><li>Coterra Energy's third-quarter earnings highlight a balance of robust operational efficiencies and strategic capital allocation, underlining the company's adept management in navigating complex market environments.</li><li>The company reported surpassing their production targets while simultaneously reducing capital expenditure, which points to significant improvements in operational efficiencies and cost management.</li><li>Tom Jorden, the CEO, emphasized consistent organic oil growth and improved capital efficiency due to high-quality assets and strategic project execution, like the Windham Row project in Culberson County, which has exceeded expectations.</li></ul>

Coterra Energy's third-quarter earnings highlight a balance of robust operational efficiencies and strategic capital allocation, underlining the company's adept management in navigating complex market environments.The company reported surpassing their production targets while simultaneously reducing capital expenditure, which points to significant improvements in operational efficiencies and cost management.Tom Jorden, the CEO, emphasized consistent organic oil growth and improved capital efficiency due to high-quality assets and strategic project execution, like the Windham Row project in Culberson County, which has exceeded expectations.

Coterra Energy : An Insight Into Its Strategic Asset Management & Production Optimization & Other Major Drivers

<ul><li>Coterra Energy held its 2024 Earnings Call, reporting robust results for the second quarter.</li><li>The company highlighted strong financial performance alongside diligent execution of operational strategies, despite facing a 42% drop in realized natural gas prices between Q1 and Q2 2024.</li><li>Ensuing from this price drop, revenue only saw a modest 12% decline, illustrating Coterra Energy's resilience and strong market positioning.</li></ul>

Coterra Energy held its 2024 Earnings Call, reporting robust results for the second quarter.The company highlighted strong financial performance alongside diligent execution of operational strategies, despite facing a 42% drop in realized natural gas prices between Q1 and Q2 2024.Ensuing from this price drop, revenue only saw a modest 12% decline, illustrating Coterra Energy's resilience and strong market positioning.

Coterra Energy Inc: Strategic Resource Allocation Across Basins & Critical Growth Catalysts! - Major Drivers

United States

Coterra Energy Inc. operates as a diversified energy company. The Company develops of oil and natural gas with a focus on protecting and preserving air quality, water resources, and the land on which we operate. Coterra Energy serves clients in the United States.

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Coterra Energy (CTRA US)

Cautious Outlook; Get Defensive and Sell Rallies; Upgrading Energy; Downgrading Technology

Cautious Outlook; Get Defensive and Sell Rallies; Upgrading Energy $XLE to Market Weight; Downgrading Technology $XLK to Underweight; Cautious if...

Vermilion Research

[Earnings Preview] Halliburton Expected to Post Subdued Q4 Results on Tepid Upstream Activity

Halliburton's revenue is expected to decline due to oil price volatility and weak global demand. Margins are expected to drop in Completion and...

Mint Finance

Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

Buy the Pullback Again, Same as Our Election Day Report; S&P 500 $SPX, Nasdaq 100 $QQQ, Russell 2000 $IWM Testing Confluence of Support at 20-day...

Vermilion Research

Coterra Energy : An Insight Into Its Strategic Asset Management & Production Optimization & Other Major Drivers

Coterra Energy's third-quarter earnings highlight a balance of robust operational efficiencies and strategic capital allocation, underlining the...

Baptista Research

Coterra Energy Inc: Strategic Resource Allocation Across Basins & Critical Growth Catalysts! - Major Drivers

Coterra Energy held its 2024 Earnings Call, reporting robust results for the second quarter. The company highlighted strong financial performance...

Baptista Research

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52-week Range

Market Cap (USDm)

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Cautious Outlook; Get Defensive and Sell Rallies; Upgrading Energy; Downgrading Technology

Cautious Outlook; Get Defensive and Sell Rallies; Upgrading Energy $XLE to Market Weight; Downgrading Technology $XLK to Underweight; Cautious if...

Vermilion Research

[Earnings Preview] Halliburton Expected to Post Subdued Q4 Results on Tepid Upstream Activity

​Halliburton's revenue is expected to decline due to oil price volatility and weak global demand. Margins are expected to drop in Completion and...

Mint Finance

Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

Buy the Pullback Again, Same as Our Election Day Report; S&P 500 $SPX, Nasdaq 100 $QQQ, Russell 2000 $IWM Testing Confluence of Support at 20-day...

Vermilion Research

Coterra Energy : An Insight Into Its Strategic Asset Management & Production Optimization & Other Major Drivers

Coterra Energy's third-quarter earnings highlight a balance of robust operational efficiencies and strategic capital allocation, underlining the...

Baptista Research

Coterra Energy Inc: Strategic Resource Allocation Across Basins & Critical Growth Catalysts! - Major Drivers

Coterra Energy held its 2024 Earnings Call, reporting robust results for the second quarter. The company highlighted strong financial performance...

Baptista Research

Halliburton's revenue is expected to decline due to oil price volatility and weak global demand. Margins are expected to drop in Completion and...