Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>This week, we are introducing modifications to our WTR Sustainable Investing Index.</li><li>Please see “About the WTR Index” on this page for the new description.</li><li>Aside from changes to the sector and sub-sector groupings, we now include only stocks with market caps greater than $2.0 million and less than $10 billion, so the new index reflects small- cap and mid-cap companies.</li></ul>

This week, we are introducing modifications to our WTR Sustainable Investing Index.Please see “About the WTR Index” on this page for the new description.Aside from changes to the sector and sub-sector groupings, we now include only stocks with market caps greater than $2.0 million and less than $10 billion, so the new index reflects small- cap and mid-cap companies.

Sustainable Investing Surveyor - Focus on BNRG - Jul 28, 2025

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

IShares Bitcoin Trust ETF / Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
<li>Short-Term support on the SPX is at 6100-6150, 6028-6059, and the 20-day MA, with additional supports at 5804-5854 and 5700-5785.</li>
<li>We view any pullbacks to the these supports as buying opportunities, though we do not expect there to be another test of 5700-5785 any time soon.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
Short-Term support on the SPX is at 6100-6150, 6028-6059, and the 20-day MA, with additional supports at 5804-5854 and 5700-5785.
We view any pullbacks to the these supports as buying opportunities, though we do not expect there to be another test of 5700-5785 any time soon.


Bitcoin Breaking Out; Bullish Outlook Intact; Many Areas Breaking Out or Bottoming: XLY, XME, KRE ++

<ul><li>The WTR Sustainable Index was up 0.5% W/W versus the S&amp;P 500 Index (up 1.7%), the Russell 2000 Index (up 3.5%), and the Nasdaq Index (up 1.5%).</li><li>Energy Technology (13.9% of the index) was up 6.8%, while Industrial Climate and Ag Technology (49.3% of the index) was up 2.7%, ClimateTech Mining was down 10.7%, and Advanced Transportation Solutions (20.9% of the index) was up 0.9%.</li><li>Top 10 Performers: HCNWF, GWH, RUN, FLNC, LIS, STEM, FLUX, GRB, NRGV, AMTX</li></ul>

The WTR Sustainable Index was up 0.5% W/W versus the S&amp;P 500 Index (up 1.7%), the Russell 2000 Index (up 3.5%), and the Nasdaq Index (up 1.5%).Energy Technology (13.9% of the index) was up 6.8%, while Industrial Climate and Ag Technology (49.3% of the index) was up 2.7%, ClimateTech Mining was down 10.7%, and Advanced Transportation Solutions (20.9% of the index) was up 0.9%.Top 10 Performers: HCNWF, GWH, RUN, FLNC, LIS, STEM, FLUX, GRB, NRGV, AMTX

Sustainable Investing Surveyor Focus on CRC

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
<li>Our near-term bullish outlook will remain in place long as the S&amp;P 500 (SPX), Nasdaq 100 (QQQ), and Russell 2000 (IWM) are above their 20-day MAs.</li>
<li>Short-Term SPX support is at 6028-6059 and the 20-day MA, with additional supports at 5804-5854 and 5700-5785. Russell 2000 (IWM) and S&amp;P Mid Caps (IJH) also breaking above key resistances</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
Our near-term bullish outlook will remain in place long as the S&amp;P 500 (SPX), Nasdaq 100 (QQQ), and Russell 2000 (IWM) are above their 20-day MAs.
Short-Term SPX support is at 6028-6059 and the 20-day MA, with additional supports at 5804-5854 and 5700-5785. Russell 2000 (IWM) and S&amp;P Mid Caps (IJH) also breaking above key resistances


Blue Sky Territory; Bullish Outlook Intact; Nasdaq 100 and S&P 500 Breaking to All-Time Highs

<ul><li>The WTR Sustainable Index was up 2.7% W/W versus the S&amp;P 500 Index (up 3.4%), the Russell 2000 Index (up 3.0%), and the Nasdaq Index (up 4.2%).</li><li>Energy Technology (13.1% of the index) was up 4.8%, while Industrial Climate and Ag Technology (48.2% of the index) was up 3.8%, ClimateTech Mining was up 1.4%, and Advanced Transportation Solutions (20.8% of the index) was up 2.7%.</li><li>Top 10 Performers: QS, HYSR, AEVA, EFOI, COMM, WAVE, FTEK, AYRO, ENVX, AMSC</li></ul>

The WTR Sustainable Index was up 2.7% W/W versus the S&amp;P 500 Index (up 3.4%), the Russell 2000 Index (up 3.0%), and the Nasdaq Index (up 4.2%).Energy Technology (13.1% of the index) was up 4.8%, while Industrial Climate and Ag Technology (48.2% of the index) was up 3.8%, ClimateTech Mining was up 1.4%, and Advanced Transportation Solutions (20.8% of the index) was up 2.7%.Top 10 Performers: QS, HYSR, AEVA, EFOI, COMM, WAVE, FTEK, AYRO, ENVX, AMSC

Sustainable Investing Surveyor - Focus on AMRC

United States

The Russell 2000 Index is comprised of the smallest 2000 companies in the Russell 3000 Index, representing approximately 8% of the Russell 3000 total market capitalization. The index was developed with a base value of 135.00 as of December 31, 1986.

Russell 2000 Index (RTY INDEX)

Sustainable Investing Surveyor - Focus on BNRG - Jul 28, 2025

This week, we are introducing modifications to our WTR Sustainable Investing Index. Please see “About the WTR Index” on this page for the new...

Water Tower Research

Bitcoin Breaking Out; Bullish Outlook Intact; Many Areas Breaking Out or Bottoming: XLY, XME, KRE ++

Bitcoin Breaking Out; Bullish Outlook Intact on $SPX $QQQ $IWM; Many Areas Breaking Out or Bottoming $XLY $XME $KRE $KBE $JETS $ITB $XBI $TAN...

Vermilion Research

Sustainable Investing Surveyor Focus on CRC

The WTR Sustainable Index was up 0.5% W/W versus the S&P 500 Index (up 1.7%), the Russell 2000 Index (up 3.5%), and the Nasdaq Index (up 1.5%).

Water Tower Research

Blue Sky Territory; Bullish Outlook Intact; Nasdaq 100 and S&P 500 Breaking to All-Time Highs

Blue Sky Territory; Bullish Outlook Intact; $QQQ and $SPX Breaking to All-Time Highs; Russell 2000 $IWM and Mid Caps $IJH also breaking above...

Vermilion Research

Sustainable Investing Surveyor - Focus on AMRC

The WTR Sustainable Index was up 2.7% W/W versus the S&P 500 Index (up 3.4%), the Russell 2000 Index (up 3.0%), and the Nasdaq Index (up 4.2%).

Water Tower Research