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

Crude oil prices display bullish short-term reversals, resulting in bullish price and RS reversals for global Energy stocks -- add exposure. From a macro perspective, despite some mild price deterioration recently on major indexes around the globe, our outlook remains unchanged and we remain neutral yet constructive overall. Market dynamics remain largely constructive and we continue to see attractive opportunities in many countries/regions such as Japan, China (Shanghai Composite), Europe, India, and Canada, to name a few.

Crude oil prices display bullish short-term reversals, resulting in bullish price and RS reversals for global Energy stocks -- add exposure. From a macro perspective, despite some mild price deterioration recently on major indexes around the globe, our outlook remains unchanged and we remain neutral yet constructive overall. Market dynamics remain largely constructive and we continue to see attractive opportunities in many countries/regions such as Japan, China (Shanghai Composite), Europe, India, and Canada, to name a few.

Global Energy Sector Improving -- Buying Reliance Industries Ltd, Several Others

Index Rebalance and Special Situations, Quiddity Advisors

Afridi Reyal

Index Rebalance and Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The March 2026 index review results for the F100 and F250 indices were announced yesterday after LSE market close.</li>
<li>There will be two index changes for F100 and two separate index changes for F250. </li>
<li>The announced results were in line with our final expectations discussed here (<a href="https://www.smartkarma.com/discussion/243825" target="_blank" rel="noopener">link</a>).  </li>
</ul>


The March 2026 index review results for the F100 and F250 indices were announced yesterday after LSE market close.
There will be two index changes for F100 and two separate index changes for F250. 
The announced results were in line with our final expectations discussed here (link).  


Quiddity F100/F250 Mar26 Results: All Expected ADDs/DELs Correct; One High Impact ADD

<ul>
<li>In this insight, we take a look at the potential index changes for the F100 and F250 in the run-up to the March 2026 index rebal event.</li>
<li>We see one M&amp;A-related intra-review change for the F100 index in the next week.</li>
<li>Our latest estimates suggest there could be one regular change each for the F100 and F250 indexes during the March 2026 rebal.</li>
</ul>


In this insight, we take a look at the potential index changes for the F100 and F250 in the run-up to the March 2026 index rebal event.
We see one M&amp;A-related intra-review change for the F100 index in the next week.
Our latest estimates suggest there could be one regular change each for the F100 and F250 indexes during the March 2026 rebal.


Quiddity Leaderboard F100/F250 Mar26: Ashtead DEL Soon; 2 Weeks to Base Date

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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/the-schiehallion-fund-limited" target="_blank" data-smartkarma-citation="entities:46402:1" rel="noopener">Schiehallion Fund (MNTN LN)</a> is the flagship forecasted addition at the March 2026 review following its listing transfer to the LSE Main Market.</li>
<li>
<a href="https://www.smartkarma.com/entities/ashtead-group-plc" target="_blank" data-smartkarma-citation="entities:21806:1" rel="noopener">Ashtead (AHT LN)</a> is expected to experience significant supply from UK index funds in February and demand from US in June following its corporate &amp; listing structure change.</li>
<li>
<a href="https://www.smartkarma.com/entities/tritax-big-box-reit-plc" target="_blank" data-smartkarma-citation="entities:21830:1" rel="noopener">Tritax Big Box Reit (BBOX LN)</a> and <a href="https://www.smartkarma.com/entities/ig-group-holdings-plc" target="_blank" data-smartkarma-citation="entities:21989:1" rel="noopener">Ig Group Holdings (IGG LN)</a> are the main candidates to replace <a href="https://www.smartkarma.com/entities/ashtead-group-plc" target="_blank" data-smartkarma-citation="entities:21806:1" rel="noopener">Ashtead (AHT LN)</a> and be added to F100 at the review.</li>
</ul>



Schiehallion Fund (MNTN LN) is the flagship forecasted addition at the March 2026 review following its listing transfer to the LSE Main Market.

Ashtead (AHT LN) is expected to experience significant supply from UK index funds in February and demand from US in June following its corporate &amp; listing structure change.

Tritax Big Box Reit (BBOX LN) and Ig Group Holdings (IGG LN) are the main candidates to replace Ashtead (AHT LN) and be added to F100 at the review.


UK Index Forecasts - Mar26: Schiehallion Fund Headlines F250; Ashtead Moves to US

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Equity Bottom-Up

Key points (machine generated)<ul><li>CVS Group PLC is a leading veterinary services provider in the U.K., focusing on consolidating independent practices.</li><li>A formal market investigation by the U.K. Competition and Markets Authority, set for March 2024, has led to a significant drop in investor confidence and stock price.</li><li>Despite a strong revenue growth rate, the stock trades at a lower multiple due to concerns over potential regulatory impacts on the company's strategy.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)CVS Group PLC is a leading veterinary services provider in the U.K., focusing on consolidating independent practices.A formal market investigation by the U.K. Competition and Markets Authority, set for March 2024, has led to a significant drop in investor confidence and stock price.Despite a strong revenue growth rate, the stock trades at a lower multiple due to concerns over potential regulatory impacts on the company's strategy.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Cvsg Group (CVSG.LSE) - Monday, Jul 7, 2025

United Kingdom

CVS Group is a leading provider of veterinary services in the UK and Australia, operating over 500 veterinary practices, including specialist referral hospitals and dedicated out-of-hours sites. The company also provides veterinary diagnostic services through its laboratories and operates an online retail business, Animed Direct. CVS Group was founded in 1999 and is headquartered in Diss, Norfolk, England.

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CVS Group (CVSG LN)

Global Energy Sector Improving -- Buying Reliance Industries Ltd, Several Others

Crude oil prices display bullish short-term reversals, resulting in bullish price and RS reversals for global Energy stocks -- add exposure.

Vermilion Research

Quiddity F100/F250 Mar26 Results: All Expected ADDs/DELs Correct; One High Impact ADD

March 2026 index review results for F100 and F250 indices were announced in line with expectations. Schiehallion is a big impact name to trade.

Afridi Reyal

Quiddity Leaderboard F100/F250 Mar26: Ashtead DEL Soon; 2 Weeks to Base Date

Yesterday (3rd March) was the base date for the March 2026 rebal event. The index changes will be confirmed after market close today. I have...

Afridi Reyal

UK Index Forecasts - Mar26: Schiehallion Fund Headlines F250; Ashtead Moves to US

AHT was removed from F100 and saw passive fund supply of ~29m shares, $2bn, 16 ADV at the close on 27 February. BBOX replaced AHT in F100, and COST...

Dimitris Ioannidis

Cvsg Group (CVSG.LSE) - Monday, Jul 7, 2025

CVS Group PLC faces declining investor confidence and a stock drop from £21.00 to £9.00 amid a CMA investigation, raising concerns over its...

Value Investors Club (VIC)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Global Energy Sector Improving -- Buying Reliance Industries Ltd, Several Others

Crude oil prices display bullish short-term reversals, resulting in bullish price and RS reversals for global Energy stocks -- add exposure.

Vermilion Research

Quiddity F100/F250 Mar26 Results: All Expected ADDs/DELs Correct; One High Impact ADD

​March 2026 index review results for F100 and F250 indices were announced in line with expectations. Schiehallion is a big impact name to trade.

Afridi Reyal

Quiddity Leaderboard F100/F250 Mar26: Ashtead DEL Soon; 2 Weeks to Base Date

Yesterday (3rd March) was the base date for the March 2026 rebal event. The index changes will be confirmed after market close today. I have...

Afridi Reyal

UK Index Forecasts - Mar26: Schiehallion Fund Headlines F250; Ashtead Moves to US

AHT was removed from F100 and saw passive fund supply of ~29m shares, $2bn, 16 ADV at the close on 27 February. BBOX replaced AHT in F100, and COST...

Dimitris Ioannidis

Cvsg Group (CVSG.LSE) - Monday, Jul 7, 2025

CVS Group PLC faces declining investor confidence and a stock drop from £21.00 to £9.00 amid a CMA investigation, raising concerns over its...

Value Investors Club (VIC)

March 2026 index review results for F100 and F250 indices were announced in line with expectations. Schiehallion is a big impact name to trade.