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

With the S&amp;P 500 breaking above the June highs and the Russell 2000 bullishly inflecting topside a ~1-month base, it signals a continuation of the uptrends that began in March... see charts below. Therefore, we continue to have a bullish outlook and we believe the path of least resistance remains higher. In today’s report we highlight attractive Groups and stocks within Health Care and Materials: Biotech, Large-Cap, Biotech, Mid-Cap, Gold, Western Hemisphere, Small-Cap, and Silver, Platinum.

With the S&amp;P 500 breaking above the June highs and the Russell 2000 bullishly inflecting topside a ~1-month base, it signals a continuation of the uptrends that began in March... see charts below. Therefore, we continue to have a bullish outlook and we believe the path of least resistance remains higher. In today’s report we highlight attractive Groups and stocks within Health Care and Materials: Biotech, Large-Cap, Biotech, Mid-Cap, Gold, Western Hemisphere, Small-Cap, and Silver, Platinum.

U.S. Equity Strategy: Bullish Outlook Intact

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pharmaessentia-corp" target="_blank" data-smartkarma-citation="entities:16461:1" rel="noopener">Pharmaessentia Corp (6446 TT)</a> has started 2026 on strong note. 1Q26 revenue reached a record high of NT$5.1B, marking the 14th consecutive quarter of record-high performance with 57% YoY growth.</li>
<li>The company has appointed Incyte alumni Eric Vogel as U.S. Head of Commercialization, thereby strengthening commercial infrastructure ahead of the target action date for in ET on August 30, 2026.</li>
<li>By acquiring 100% of Forus, Pharmaessentia will fully integrate Canadian regulatory and medical affairs, marketing, and commercial channel resources — consolidating competitive advantages for Besremi and future products in the market.</li>
</ul>



Pharmaessentia Corp (6446 TT) has started 2026 on strong note. 1Q26 revenue reached a record high of NT$5.1B, marking the 14th consecutive quarter of record-high performance with 57% YoY growth.
The company has appointed Incyte alumni Eric Vogel as U.S. Head of Commercialization, thereby strengthening commercial infrastructure ahead of the target action date for in ET on August 30, 2026.
By acquiring 100% of Forus, Pharmaessentia will fully integrate Canadian regulatory and medical affairs, marketing, and commercial channel resources — consolidating competitive advantages for Besremi and future products in the market.


Pharmaessentia Corp (6446 TT): Strong 1Q Result; Commercialization Activity Ahead of Label Expansion

Ongoing bullish developments continue to support our belief that we are in the early stages of a broad-based advance following a nearly 2-year consolidation period. In today’s report we highlight attractive Groups and stocks within Health Care: Biotech, Large-Cap, Biotech, Mid-Cap, Hospitals, and Rehab Services.

Ongoing bullish developments continue to support our belief that we are in the early stages of a broad-based advance following a nearly 2-year consolidation period. In today’s report we highlight attractive Groups and stocks within Health Care: Biotech, Large-Cap, Biotech, Mid-Cap, Hospitals, and Rehab Services.

U.S. Equity Strategy: Upgrading Health Care to Overweight

As bullish developments pile up, the weight-of-the-evidence continues to support our belief that we may be in the early stages of a broad-based advance. There are some developments that leave us wanting more, but we are inching toward an outright bullish outlook. In today’s report we outline our U.S. investment thesis, and highlight attractive Groups and stocks within Health Care, Materials, and Manufacturing: Biotech, Large-Cap, Aluminum, Chemicals, Diversified, and Fluid Technology &amp; Power.

As bullish developments pile up, the weight-of-the-evidence continues to support our belief that we may be in the early stages of a broad-based advance. There are some developments that leave us wanting more, but we are inching toward an outright bullish outlook. In today’s report we outline our U.S. investment thesis, and highlight attractive Groups and stocks within Health Care, Materials, and Manufacturing: Biotech, Large-Cap, Aluminum, Chemicals, Diversified, and Fluid Technology &amp; Power.

U.S. Equity Strategy: Small-Caps Testing Critical Resistance; Downgrading Communications

A combination of, optimism surrounding U.S.-China trade talks, and Fed Chairman Powell’s comments have led to a continuation of the oversold bounce which began on 12/26, and the S&amp;P 500 is now trading just below the 12/19 pre-Fed rate hike area. ~2,350 on the S&amp;P 500 remains the support level to monitor. A retest of this low remains the most likely scenario, though it is far from a guarantee due to the potential for a “V” reversal. We examine an array of factors leading to our intact cautious outlook, and highlight attractive set-ups within Consumer Discretionary and Health Care Sectors.

A combination of, optimism surrounding U.S.-China trade talks, and Fed Chairman Powell’s comments have led to a continuation of the oversold bounce which began on 12/26, and the S&amp;P 500 is now trading just below the 12/19 pre-Fed rate hike area. ~2,350 on the S&amp;P 500 remains the support level to monitor. A retest of this low remains the most likely scenario, though it is far from a guarantee due to the potential for a “V” reversal. We examine an array of factors leading to our intact cautious outlook, and highlight attractive set-ups within Consumer Discretionary and Health Care Sectors.

U.S. Equity Strategy: Oversold Rally Continues

United States

Incyte Corp is a biopharmaceutical company. The Company discovers, develops and commercializes proprietary small molecule drugs, primarily used in oncology.

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Incyte Corp (INCY US)

U.S. Equity Strategy: Bullish Outlook Intact

With the S&P 500 breaking above the June highs and the Russell 2000 bullishly inflecting topside a ~1-month base, it signals a continuation of...

Vermilion Research

Pharmaessentia Corp (6446 TT): Strong 1Q Result; Commercialization Activity Ahead of Label Expansion

Pharmaessentia sees record-high revenue in 1Q26, appoints new U.S. Head of Commercialization, and strengthens commercial infrastructure in Canada...

Tina Banerjee

U.S. Equity Strategy: Upgrading Health Care to Overweight

Ongoing bullish developments continue to support our belief that we are in the early stages of a broad-based advance following a nearly 2-year...

Vermilion Research

U.S. Equity Strategy: Small-Caps Testing Critical Resistance; Downgrading Communications

As bullish developments pile up, the weight-of-the-evidence continues to support our belief that we may be in the early stages of a broad-based...

Vermilion Research

U.S. Equity Strategy: Oversold Rally Continues

A combination of, optimism surrounding U.S.-China trade talks, and Fed Chairman Powell’s comments have led to a continuation of the oversold bounce...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

U.S. Equity Strategy: Bullish Outlook Intact

With the S&P 500 breaking above the June highs and the Russell 2000 bullishly inflecting topside a ~1-month base, it signals a continuation of...

Vermilion Research

Pharmaessentia Corp (6446 TT): Strong 1Q Result; Commercialization Activity Ahead of Label Expansion

​Pharmaessentia sees record-high revenue in 1Q26, appoints new U.S. Head of Commercialization, and strengthens commercial infrastructure in Canada...

Tina Banerjee

U.S. Equity Strategy: Upgrading Health Care to Overweight

Ongoing bullish developments continue to support our belief that we are in the early stages of a broad-based advance following a nearly 2-year...

Vermilion Research

U.S. Equity Strategy: Small-Caps Testing Critical Resistance; Downgrading Communications

As bullish developments pile up, the weight-of-the-evidence continues to support our belief that we may be in the early stages of a broad-based...

Vermilion Research

U.S. Equity Strategy: Oversold Rally Continues

A combination of, optimism surrounding U.S.-China trade talks, and Fed Chairman Powell’s comments have led to a continuation of the oversold bounce...

Vermilion Research

Pharmaessentia sees record-high revenue in 1Q26, appoints new U.S. Head of Commercialization, and strengthens commercial infrastructure in Canada...