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

As long as market dynamics remain largely positive and the MSCI ACWI (ACWI-US), ACWI ex-US (ACWX-US), and EM (EEM-US) indexes are above their respective intermediate-term support levels we believe a constructive outlook is warranted. To reiterate, support levels to watch include $90 on ACWI-US, $53 on ACWX-US, and $52 on EEM-US. Open the attached file to read our complete International Strategy document, and to find links to detailed comments and recommendations for each of our 12 Sectors.

As long as market dynamics remain largely positive and the MSCI ACWI (ACWI-US), ACWI ex-US (ACWX-US), and EM (EEM-US) indexes are above their respective intermediate-term support levels we believe a constructive outlook is warranted. To reiterate, support levels to watch include $90 on ACWI-US, $53 on ACWX-US, and $52 on EEM-US. Open the attached file to read our complete International Strategy document, and to find links to detailed comments and recommendations for each of our 12 Sectors.

Global Equity Strategy: Constructive Pullback; Overweight Value

Positive COVID vaccine news has since led to bullish inflections in a staggering number of countries, ACWI-US included. Our current outlook is bullish. Buy dips. In this report we outline key technical levels across markets and highlight actionable ideas within our Financials &amp; Energy Sectors.

Positive COVID vaccine news has since led to bullish inflections in a staggering number of countries, ACWI-US included. Our current outlook is bullish. Buy dips. In this report we outline key technical levels across markets and highlight actionable ideas within our Financials &amp; Energy Sectors.

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<a href="https://www.smartkarma.com/entities/bharat-petroleum-corp-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:10222:1">Bharat Petroleum Corp (BPCL IN)</a> is engaged in the business of refining crude oil and marketing of petroleum products. It is India's second largest Oil Marketing Company (OMC) and sixth largest company by turnover.The Government of India holds 53.29% of the company and is looking to sell its stake to raise funds to meet its divestment target for the fiscal year and bridge the fiscal deficit. In this Insight, we take a look at the company structure, the ways in which privatisation could be achieved, potential suitors for the stake and the price offered, implications for investors due to the open offer that would need to be made and due to changes in the free float weighting in the local/global indices.

Bharat Petroleum Corp (BPCL IN) is engaged in the business of refining crude oil and marketing of petroleum products. It is India's second largest Oil Marketing Company (OMC) and sixth largest company by turnover.The Government of India holds 53.29% of the company and is looking to sell its stake to raise funds to meet its divestment target for the fiscal year and bridge the fiscal deficit. In this Insight, we take a look at the company structure, the ways in which privatisation could be achieved, potential suitors for the stake and the price offered, implications for investors due to the open offer that would need to be made and due to changes in the free float weighting in the local/global indices.

BPCL - Thoughts on the Potential Government Stake Sale

Mark Artherton, CFA

Inteqres

Equity Capital Markets

658 pages of fun lead us to the same conclusion from our previous note.  This will be a low beta asset and the yield is key.  Our assumption remains that the Kingdom has received enough assurances to get a pretty full valuation from locals and various SWFs but is 'playing' the book building game.  Assuming the government will behave well for the first few years at least then Aramco will be a low beta asset for yield investors.

658 pages of fun lead us to the same conclusion from our previous note.  This will be a low beta asset and the yield is key.  Our assumption remains that the Kingdom has received enough assurances to get a pretty full valuation from locals and various SWFs but is 'playing' the book building game.  Assuming the government will behave well for the first few years at least then Aramco will be a low beta asset for yield investors.  

Saudi Aramco - Prospectus Review - Low Beta Yield Play

Founder & CEO. Oil markets macro-analysis., Vanda Insights

Vandana Hari

Founder & CEO. Oil markets macro-analysis.

Vanda Insights

Vanda Insights is a Singapore-based boutique provider of intelligence on the global energy markets, launched in September 2016. The venture was born out of a desire to extract the signal from the noise in the complex and often volatile oil markets. Our succinct and clear macro analysis is relied upon by thousands of readers globally, including those doing business directly or indirectly in the physical commodity and derivatives markets; wealth managers; governments, regulatory bodies and think-tanks; as well as trade organizations and educational institutions.

Global Energy Markets

Commodities

The oil market is indeed surrounded by “black swans”, as the Russian energy minister put it last week.
 Just count the variables – an economic wobble from trade wars and tensions, US sanctions against oil producers Iran, Venezuela and Russia and escalating geopolitical tensions in the Middle East – and then consider all the permutations and combinations of their unanticipated consequences.
 It is hardly a surprise then, that the oil market is going with the only certainty on the horizon, which is weakening global demand growth.  
 Benchmark crude prices tumbled to two-month lows last week, and it is hard to see any factors that might spur a sustainable rebound any time soon.

The oil market is indeed surrounded by “black swans”, as the Russian energy minister put it last week.
 Just count the variables – an economic wobble from trade wars and tensions, US sanctions against oil producers Iran, Venezuela and Russia and escalating geopolitical tensions in the Middle East – and then consider all the permutations and combinations of their unanticipated consequences.
 It is hardly a surprise then, that the oil market is going with the only certainty on the horizon, which is weakening global demand growth.  
 Benchmark crude prices tumbled to two-month lows last week, and it is hard to see any factors that might spur a sustainable rebound any time soon.

Weekly Oil Views: Market Sticks with Bleak Outlook, the Only Certainty for Now

Russia

Rosneft Oil Company produces and markets petroleum products. The Company explores, extracts, refines, and markets oil and natural gas. Rosneft produces oil in Western Siberia, Sakhalin, the North Caucasus, and the Arctic regions of Russia.

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Rosneft Oil PJSC (ROSN RM)

Global Equity Strategy: Constructive Pullback; Overweight Value

As long as the MSCI ACWI (ACWI-US), ACWI ex-US (ACWX-US), and EM (EEM-US) indexes are above their respective intermediate-term support levels we...

Vermilion Research

Bullish Inflections Around The World

In this report we outline key technical levels across markets and highlight actionable ideas within our Financials & Energy Sectors.

Vermilion Research

BPCL - Thoughts on the Potential Government Stake Sale

Bharat Petroleum Corp (BPCL IN) is engaged in the business of refining crude oil and marketing of petroleum products. It is India's second largest...

Brian Freitas

Saudi Aramco - Prospectus Review - Low Beta Yield Play

658 pages of fun lead us to the same conclusion from our previous note. This will be a low beta asset and the yield is key. Our assumption...

Mark Artherton, CFA

Weekly Oil Views: Market Sticks with Bleak Outlook, the Only Certainty for Now

The oil market is indeed surrounded by “black swans”, as the Russian energy minister put it last week. Just count the variables – an economic...

Vandana Hari

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