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>We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.</li>
<li>Short-Term supports on SPX include 6400-6410, 6340-6360, 6200, 6100-6150, and 6028-6059.</li>
<li>Various prior leadership areas from the April lows appear ready to continue higher following 1+ month consolidations. IGV, PLTR, APP, SOUN, RZLV, SHOP, FROG, U, CDNS, RDDT, JMIA, RR, Z,HIMS,MU,GRAL</li>
</ul>


We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.
Short-Term supports on SPX include 6400-6410, 6340-6360, 6200, 6100-6150, and 6028-6059.
Various prior leadership areas from the April lows appear ready to continue higher following 1+ month consolidations. IGV, PLTR, APP, SOUN, RZLV, SHOP, FROG, U, CDNS, RDDT, JMIA, RR, Z,HIMS,MU,GRAL


Downgrading Utilities to Market Weight; Bullish Outlook Intact; Prior Leadership to Shine?

High Quality Stock Setups, Weekly Stock Bull Finder

Weekly Stock Bull Finder

High Quality Stock Setups

Finding high potential stock setups on quality companies

Thematic (Sector/Industry)

<ul><li>Tech Heavyweights Shouldering the Load- Caution Flags Waving Since the end of 2022, few and fewer big cap tech names are now carrying the overall S&amp;P 500 index performance.</li><li>As of last Friday’s close, the S&amp;P 500 is up about 2% YTD. However, without the contribution of chip maker Nvidia (NVDA) it would be flat YTD.</li><li>Since the end of 2022, few and fewer big cap tech names are now carrying the overall S&amp;P 500 index performance.</li></ul>

Tech Heavyweights Shouldering the Load- Caution Flags Waving Since the end of 2022, few and fewer big cap tech names are now carrying the overall S&amp;P 500 index performance.As of last Friday’s close, the S&amp;P 500 is up about 2% YTD. However, without the contribution of chip maker Nvidia (NVDA) it would be flat YTD.Since the end of 2022, few and fewer big cap tech names are now carrying the overall S&amp;P 500 index performance.

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Bottom-Up

<ul>
<li>GitLab Inc. is a complete DevSecOps platform delivered as a single application that empowers organizations to maximize the overall return on software development.</li>
<li>In October 2021, one the largest all-remote companies in the world completed an initial public offering at $77/share, raising $801M at ~$11B valuation.</li>
<li>The stock peaked at $137 in 2021 and fell ~71% over the next 4 years. The underperformance was driven by investor concerns around slowing revenue growth, competition and AI monetization.</li>
</ul>


GitLab Inc. is a complete DevSecOps platform delivered as a single application that empowers organizations to maximize the overall return on software development.
In October 2021, one the largest all-remote companies in the world completed an initial public offering at $77/share, raising $801M at ~$11B valuation.
The stock peaked at $137 in 2021 and fell ~71% over the next 4 years. The underperformance was driven by investor concerns around slowing revenue growth, competition and AI monetization.


2026 High Conviction: GitLab Inc., Undervalued With Duo Agent Platform Growth Upside/M&A Optionality

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>JFrog reported their financial results for the second quarter of 2025, highlighting continued growth and strategic execution.</li><li>Total revenue for the quarter was $127.2 million, marking a 23% increase year-over-year, with cloud revenue growing by 45% to $57.1 million.</li><li>This growth highlights JFrog's successful strategy of converting customers with usage above minimum commitments into annual contracts, reinforcing the predictability of revenue streams and strategic focus on cloud services.</li></ul>

JFrog reported their financial results for the second quarter of 2025, highlighting continued growth and strategic execution.Total revenue for the quarter was $127.2 million, marking a 23% increase year-over-year, with cloud revenue growing by 45% to $57.1 million.This growth highlights JFrog's successful strategy of converting customers with usage above minimum commitments into annual contracts, reinforcing the predictability of revenue streams and strategic focus on cloud services.

JFrog’s Artifactory Vision: Could It Become the World’s AI Model Registry?

<ul><li>JFrog's Q1 2025 financial results reflect both accomplishments and ongoing challenges.</li><li>The company reported total revenue of $122.4 million, up 22% year-over-year, driven significantly by strong cloud revenue which rose by 42% to $52.6 million.</li><li>This growth underscores JFrog's strategic focus on cloud solutions and enterprise migrations toward its SaaS offering.</li></ul>

JFrog's Q1 2025 financial results reflect both accomplishments and ongoing challenges.The company reported total revenue of $122.4 million, up 22% year-over-year, driven significantly by strong cloud revenue which rose by 42% to $52.6 million.This growth underscores JFrog's strategic focus on cloud solutions and enterprise migrations toward its SaaS offering.

JFrog: Expanding ML & AI Opportunities in the Platform To Shape the Future!

United States

JFrog Ltd operates as a software development company. The Company provides technologies and tools for the everyday use and to increase the effectiveness. JFrog serves customers worldwide.

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JFrog (FROG US)

Downgrading Utilities to Market Weight; Bullish Outlook Intact; Prior Leadership to Shine?

Downgrading Utilities $XLU to Market Weight; Bullish Outlook Intact; Time for Prior Leadership to Shine? $IGV $PLTR $APP $SOUN $RZLV $SHOP $FROG $U...

Vermilion Research

Weekly Stock Bullfinder - Week of 3/27

Tech Heavyweights Shouldering the Load- Caution Flags Waving Since the end of 2022, few and fewer big cap tech names are now carrying the overall...

Weekly Stock Bull Finder

2026 High Conviction: GitLab Inc., Undervalued With Duo Agent Platform Growth Upside/M&A Optionality

GitLab Inc., the leading DevSecOps platform provider that delivers software faster and efficiently, is my 2026 high conviction idea in the U.S....

Andrei Zakharov

JFrog’s Artifactory Vision: Could It Become the World’s AI Model Registry?

JFrog reported their financial results for the second quarter of 2025, highlighting continued growth and strategic execution. Total revenue for...

Baptista Research

JFrog: Expanding ML & AI Opportunities in the Platform To Shape the Future!

JFrog's Q1 2025 financial results reflect both accomplishments and ongoing challenges. The company reported total revenue of $122.4 million, up...

Baptista Research

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