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

Pullback opportunities are currently in limited supply. While most markets are advancing to 12+ month highs, including the U.S., Japan, and EM, Europe is still trading at its 200-day MA, as a result of its recent four-month decline. This presents an attractive entry point, especially for small-cap investors.  In this report we highlight opportunities in: steel companies, trucks/construction/farm machinery, auto parts manufacturers and energy companies.

Pullback opportunities are currently in limited supply. While most markets are advancing to 12+ month highs, including the U.S., Japan, and EM, Europe is still trading at its 200-day MA, as a result of its recent four-month decline. This presents an attractive entry point, especially for small-cap investors.  In this report we highlight opportunities in: steel companies, trucks/construction/farm machinery, auto parts manufacturers and energy companies.

Pullback Opportunities in European Small Caps

Independent Investment Research, The IDEA!

The IDEA!

Independent Investment Research

The Idea-Driven Equities Analyses company (the IDEA!) is an employee-owned boutique providing independent investment research and financial consultancy services with a clear focus on the Benelux countries. The company was founded in the summer of 2007 by Henk Slotboom and Maarten Verbeek, both with more than 35 years of professional experience in the financial sector. The IDEA! differentiates itself by focusing on adding value through self-initiated in-depth, idea-driven investment research, as well as by bespoke research assignments for institutional investors, hedge funds and private equity. In addition, we provide market intelligence, strategic research and – together with our business partners – consultancy services to businesses. In case you are interested in receiving more information, a sample of our products or an introductory meeting, please send a message to info@theidea.nl.

Equity Bottom-Up

<ul><li>In today's edition: • InPost / PostNL / bpostgroup | US Postal Service suspends shipments of parcels from China • Melexis | misses 4Q/FY24 guidance; start of FY25 expected to remain depressed</li></ul>

In today's edition: • InPost / PostNL / bpostgroup | US Postal Service suspends shipments of parcels from China • Melexis | misses 4Q/FY24 guidance; start of FY25 expected to remain depressed

What's News in Amsterdam - 5 February 2025 (InPost / PostNL / bpostgroup | Melexis)

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

<ul><li>E Ink and Himax introduce new color e-paper controller to enhance display technology, offering improved visual experience.</li><li>Taiwan's Economic Minister outlines plans to boost global competitiveness, focusing on strategic initiatives to strengthen economy.</li><li>Shanghai commits $13.7 billion investment in IC, AI, and biopharma industries, driving growth in technology sectors.</li></ul>

E Ink and Himax introduce new color e-paper controller to enhance display technology, offering improved visual experience.Taiwan's Economic Minister outlines plans to boost global competitiveness, focusing on strategic initiatives to strengthen economy.Shanghai commits $13.7 billion investment in IC, AI, and biopharma industries, driving growth in technology sectors.

Tech Supply Chain Tracker (02-Aug-2024): E Ink & Himax reveal color e-paper controller.

Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

Value-focused bottom-up Asian equity research

NVB Asia Pte Ltd

<ul><li>Valuetronics provides Integrated Electronics Manufacturing Services (EMS)</li><li>Focus on Consumer Electronics (CE) and Industrial &amp; Commerical Electronics (ICE)</li><li>Cyclical company but entry into automotive supply chain could be game changer</li><li>Consistently strong cash flow and dividend track record. Never loss making since 2004.</li><li>Management owns 26% of shares outstanding.</li><li>Net cash is 43% of market value, expected dividend yield of 6% for fiscal 2017.</li><li><a href="https://www.smartkarma.com/entities/8387" target="_blank" data-smartkarma-citation="entities:8387:1">Valuetronics Holdings Ltd (VALUE SP)</a> trading at (ex-cash) 6 times 2017 earnings estimate and 5x EV/EBITDA.</li><li>My estimate of Fair Value is 1.14 SGD per share, or 52% upside.</li></ul>

Valuetronics provides Integrated Electronics Manufacturing Services (EMS)Focus on Consumer Electronics (CE) and Industrial &amp; Commerical Electronics (ICE)Cyclical company but entry into automotive supply chain could be game changerConsistently strong cash flow and dividend track record. Never loss making since 2004.Management owns 26% of shares outstanding.Net cash is 43% of market value, expected dividend yield of 6% for fiscal 2017.Valuetronics Holdings Ltd (VALUE SP) trading at (ex-cash) 6 times 2017 earnings estimate and 5x EV/EBITDA.My estimate of Fair Value is 1.14 SGD per share, or 52% upside.

Discover Singapore: Valuetronics (VALUE SP), Not Your Typical S-Chip

Belgium

Melexis NV designs and manufactures advanced integrated semiconductors, sensor ICs, and programmable sensor IC systems that meet the requirements of the automotive industry. Headquartered in Belgium, the Company has locations in France, Germany, Switzerland, Bulgaria, Ukraine, and the United States.

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Melexis NV (MELE BB)

Pullback Opportunities in European Small Caps

Pullback opportunities are currently in limited supply. While most markets are advancing to 12+ month highs, including the U.S., Japan, and EM,...

Vermilion Research

What's News in Amsterdam - 5 February 2025 (InPost / PostNL / bpostgroup | Melexis)

In today's edition: • InPost / PostNL / bpostgroup | US Postal Service suspends shipments of parcels from China • Melexis | misses 4Q/FY24...

The IDEA!

Tech Supply Chain Tracker (02-Aug-2024): E Ink & Himax reveal color e-paper controller.

E Ink and Himax unveil color e-paper controller; Taiwan, Shanghai, Qualcomm, Samsung, and Melexis make moves in semiconductor industry to enhance...

Tech Supply Chain Tracker

Discover Singapore: Valuetronics (VALUE SP), Not Your Typical S-Chip

Valuetronics provides Integrated Electronics Manufacturing Services (EMS) Focus on Consumer Electronics (CE) and Industrial & Commerical...

Nicolas Van Broekhoven

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52-week Range

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