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

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Technical Analysis

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<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>We will maintain our bullish view as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 5700-5785 (up from 5500).</li>
<li>We continue to be buyers in the 5700-5785 range, and we would also be buyers at 5804-5854 gap support. We are expecting all-time highs soon on SPX.</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).
We will maintain our bullish view as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 5700-5785 (up from 5500).
We continue to be buyers in the 5700-5785 range, and we would also be buyers at 5804-5854 gap support. We are expecting all-time highs soon on SPX.


Semiconductors and Technology Leading the Way; IWM Holding Above $209; Still Firmly Bullish

Founder, BWS Financial Inc

Hamed Khorsand

Founder

Independent Stock Specific Research

BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Equity Bottom-Up

<ul>
<li>SDRL reaffirmed contract activity remained sluggish even though the Company is 70 percent contracted through the end of 2025. Day rates have not compressed. </li>
<li>SDRL has managed through 2024 with less of its fleet operating than desired due to special surveys and mobilization of two rigs to Brazil.</li>
<li>For 2025, SDRL should have two rigs (West Auriga and West Polaris) operating in Brazil giving the Company the ability to grow adjusted EBITDA. </li>
</ul>


SDRL reaffirmed contract activity remained sluggish even though the Company is 70 percent contracted through the end of 2025. Day rates have not compressed. 
SDRL has managed through 2024 with less of its fleet operating than desired due to special surveys and mobilization of two rigs to Brazil.
For 2025, SDRL should have two rigs (West Auriga and West Polaris) operating in Brazil giving the Company the ability to grow adjusted EBITDA. 


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>Transocean's Third Quarter 2024 earnings revealed a mix of robust financial performance, operational challenges, and strategic positioning in the market.</li><li>The company generated $948 million in contract drilling revenues with an adjusted EBITDA of $342 million and an EBITDA margin approximately 36%, indicating strong profitability in its operations.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Transocean's Third Quarter 2024 earnings revealed a mix of robust financial performance, operational challenges, and strategic positioning in the market.The company generated $948 million in contract drilling revenues with an adjusted EBITDA of $342 million and an EBITDA margin approximately 36%, indicating strong profitability in its operations.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Seadrill Ltd - Transocean Ltd.: An Insight Into The Global Upstream Investment Trends

<ul><li>In a potentially transformative move for the offshore drilling industry, Transocean Ltd. is in discussions to merge with its competitor, Seadrill Ltd., a combination that could reshape the landscape of offshore drilling as the sector experiences renewed vitality.</li><li>With steady oil prices and dwindling production growth from US shale, the offshore drilling space, especially in deep waters, is surging back to prominence, bringing Seadrill’s assets into a favorable light as an acquisition target.</li><li>Seadrill, a Hamilton, Bermuda-based company, has been actively restructuring its operations and focusing on key geographies to optimize its rig fleet, boasting impressive uptime metrics.</li></ul>

In a potentially transformative move for the offshore drilling industry, Transocean Ltd. is in discussions to merge with its competitor, Seadrill Ltd., a combination that could reshape the landscape of offshore drilling as the sector experiences renewed vitality.With steady oil prices and dwindling production growth from US shale, the offshore drilling space, especially in deep waters, is surging back to prominence, bringing Seadrill’s assets into a favorable light as an acquisition target.Seadrill, a Hamilton, Bermuda-based company, has been actively restructuring its operations and focusing on key geographies to optimize its rig fleet, boasting impressive uptime metrics.

Transocean Eyes Seadrill for a Strategic Merger – Here’s Why It Could Be a Game Changer!

<ul>
<li>SDRL ends third quarter 2024 with focus turned on timing of acceptance for West Auriga and West Polaris to begin work in Brazil. </li>
<li>The latest Marine Traffic data suggests West Auriga has arrived in Brazil while West Polaris is setting sail for Brazil now.</li>
<li>The offshore drill ship owners have been wrestling with timing of new contracts after a series of delays in contract activity. </li>
</ul>


SDRL ends third quarter 2024 with focus turned on timing of acceptance for West Auriga and West Polaris to begin work in Brazil. 
The latest Marine Traffic data suggests West Auriga has arrived in Brazil while West Polaris is setting sail for Brazil now.
The offshore drill ship owners have been wrestling with timing of new contracts after a series of delays in contract activity. 


United States

Seadrill Limited operates as an oil and gas field service company. The Company offers drilling contracting services to unlock oil and gas resources for clients across harsh and benign locations. Seadrill serves customers worldwide.

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Seadrill (SDRL US)

Semiconductors and Technology Leading the Way; IWM Holding Above $209; Still Firmly Bullish

Semiconductors and Technology Leading the Way; IWM Holding Above $209; Still Firmly Bullish and Risk-On. $SMH $SOXX $TSM $NVDA $ARM $MU $KLAC $LRCX...

Vermilion Research

SDRL: The Fleet and Free Cash Flow

SDRL plans to have two rigs in operation in Brazil by December, which puts 2025 fleet utilization at 70%. While contract activity has slowed, we...

BWS Financial Inc

Seadrill Ltd - Transocean Ltd.: An Insight Into The Global Upstream Investment Trends

Transocean's Third Quarter 2024 earnings revealed a mix of robust financial performance, operational challenges, and strategic positioning in the...

Baptista Research

Transocean Eyes Seadrill for a Strategic Merger – Here’s Why It Could Be a Game Changer!

In a potentially transformative move for the offshore drilling industry, Transocean Ltd. is in discussions to merge with its competitor, Seadrill...

Baptista Research

SDRL: A Brazilian Voyage

We are updating our earnings numbers after the latest Marine Traffic report put West Auriga in Brazil while West Polaris is setting sail for Brazil...

BWS Financial Inc

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