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

<p>In today's report we highlight key levels and several metrics we are watching that will provide us clues as to where the S&amp;P 500 is headed next. We also highlight several attractive stocks from a relative strength perspective across Sectors.</p>

In today's report we highlight key levels and several metrics we are watching that will provide us clues as to where the S&amp;P 500 is headed next. We also highlight several attractive stocks from a relative strength perspective across Sectors.

U.S. Equities: Upside Momentum Lost, But Not Breaking Down

Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<ul>
<li>Apple reported its 2QFY2020 results on 30<sup>th</sup> April after market which saw its revenues and operating profit beating consensus estimates. The quarterly revenue grew 0.5% YoY while OP declined 4.2% during the quarter. However, both revenue and OP were well above consensus estimates by 6.1% and 13.4% respectively.</li>
<li>The quarterly earnings from China were impacted due to the Coronavirus outbreak between January to March and the lock-downs in the rest of the world have been affecting the company earnings since mid-March.</li>
</ul>


Apple reported its 2QFY2020 results on 30th April after market which saw its revenues and operating profit beating consensus estimates. The quarterly revenue grew 0.5% YoY while OP declined 4.2% during the quarter. However, both revenue and OP were well above consensus estimates by 6.1% and 13.4% respectively.
The quarterly earnings from China were impacted due to the Coronavirus outbreak between January to March and the lock-downs in the rest of the world have been affecting the company earnings since mid-March.


Apple 2Q Results: Resilience Enough to Cope with the Covid-19 Pandemic

TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

Thematic (Sector/Industry)

<div><p>Some datapoints that caught our eye last week in TMT.</p></div><div><div><div class="content-highlight"><p>Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.</p></div></div></div>

Some datapoints that caught our eye last week in TMT.Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.

Beyond the Virus: 3 Things from TMT Land that Stood Out Week of 5/1/​​​​​​​​2020

<div><p>We  have been longtime <a href="https://www.smartkarma.com/entities/amazon-com-inc" target="_blank" data-smartkarma-citation="entities:409:1" rel="noopener">Amazon.com Inc (AMZN US)</a> bulls who remain long and would aggressively buy any substantive market-wide pullback in the coming weeks. </p></div><div><div><div class="content-highlight"><p>Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.</p></div></div></div>

We  have been longtime Amazon.com Inc (AMZN US) bulls who remain long and would aggressively buy any substantive market-wide pullback in the coming weeks. Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.

<div><p>Over the past two weeks we saw Snap, Google, Facebook, and Twitter all report earnings, and the stocks mostly reacted very positively.</p></div><div><p>The key points from the earnings calls align with our thinking that coming out of recessions, “Do More with Less” thinking dominates constrained budgets for consumers and corporates alike, companies that can provide more (better ROI, lower friction, ease of use, etc) take share.</p></div><div><div><div class="content-highlight"><p>Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.</p></div></div></div>

Over the past two weeks we saw Snap, Google, Facebook, and Twitter all report earnings, and the stocks mostly reacted very positively.The key points from the earnings calls align with our thinking that coming out of recessions, “Do More with Less” thinking dominates constrained budgets for consumers and corporates alike, companies that can provide more (better ROI, lower friction, ease of use, etc) take share.Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.

1Q20 Digital Marketing Recap: The Power of Measurable ROI

United States

Microsoft Corporation operates as a software company. The Company offers applications, extra cloud storage, and advanced security solutions. Microsoft serves customers worldwide.

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Microsoft Corp (MSFT US)

U.S. Equities: Upside Momentum Lost, But Not Breaking Down

In today's report we highlight key levels and several metrics we are watching that will provide us clues as to where the S&P 500 is headed...

Vermilion Research

Apple 2Q Results: Resilience Enough to Cope with the Covid-19 Pandemic

Apple reported its 2QFY2020 results on 30th April after market which saw its revenues and operating profit beating consensus estimates. The...

Shifara Samsudeen, FCMA, CGMA

Beyond the Virus: 3 Things from TMT Land that Stood Out Week of 5/1/2020

Some datapoints that caught our eye last week in TMT.Obex’s fundamental research process is focused on secular change in the TMT and Consumer...

Aaron Gabin

Amazon 1Q20: The Everything Stor(Y)

We have been longtime Amazon.com Inc (AMZN US) bulls who remain long and would aggressively buy any substantive market-wide pullback in the coming...

Aaron Gabin

1Q20 Digital Marketing Recap: The Power of Measurable ROI

Over the past two weeks we saw Snap, Google, Facebook, and Twitter all report earnings, and the stocks mostly reacted very positively.The key...

Aaron Gabin

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

U.S. Equities: Upside Momentum Lost, But Not Breaking Down

In today's report we highlight key levels and several metrics we are watching that will provide us clues as to where the S&P 500 is headed...

Vermilion Research

Apple 2Q Results: Resilience Enough to Cope with the Covid-19 Pandemic

Apple reported its 2QFY2020 results on 30th April after market which saw its revenues and operating profit beating consensus estimates. The...

Shifara Samsudeen, FCMA, CGMA

Beyond the Virus: 3 Things from TMT Land that Stood Out Week of 5/1/​​​​​​​​2020

Some datapoints that caught our eye last week in TMT.Obex’s fundamental research process is focused on secular change in the TMT and Consumer...

Aaron Gabin

Amazon 1Q20: The Everything Stor(Y)

We have been longtime Amazon.com Inc (AMZN US) bulls who remain long and would aggressively buy any substantive market-wide pullback in the coming...

Aaron Gabin

1Q20 Digital Marketing Recap: The Power of Measurable ROI

Over the past two weeks we saw Snap, Google, Facebook, and Twitter all report earnings, and the stocks mostly reacted very positively.The key...

Aaron Gabin

Beyond the Virus: 3 Things from TMT Land that Stood Out Week of 5/1/2020