Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Thematic (Sector/Industry)

<ul>
<li>2023 was the year of Uranium. Both the underlying commodity and most uranium equity-linked stories performed strongly.</li>
<li>2024 will be the story about copper and supply side issues becoming front and center as the "energy transition" benefits copper usage.</li>
<li>Buy a basket of junior copper companies with high M&amp;A likelihood such as <a href="https://www.smartkarma.com/entities/los-andes-copper-ltd" target="_blank" data-smartkarma-citation="entities:35434:1" rel="noopener">Los Andes Copper Ltd (LA CN)</a>, <a href="https://www.smartkarma.com/entities/solaris-resources-inc" target="_blank" data-smartkarma-citation="entities:40176:1" rel="noopener">Solaris Resources (SLS CN),</a> <a href="https://www.smartkarma.com/entities/arras-minerals-corp" target="_blank" data-smartkarma-citation="entities:40384" rel="noopener">Arras Minerals (ARK V EQUITY)</a>, and <a href="https://www.smartkarma.com/entities/entree-resources-ltd-3aeeb68c-80d0-4ada-822e-898883fbb28e" target="_blank" data-smartkarma-citation="entities:26727:1" rel="noopener">Entree Resources (ETG CN)</a>. </li>
</ul>


2023 was the year of Uranium. Both the underlying commodity and most uranium equity-linked stories performed strongly.
2024 will be the story about copper and supply side issues becoming front and center as the "energy transition" benefits copper usage.
Buy a basket of junior copper companies with high M&amp;A likelihood such as Los Andes Copper Ltd (LA CN), Solaris Resources (SLS CN), Arras Minerals (ARK V EQUITY), and Entree Resources (ETG CN). 


2024 High Conviction: Junior Copper Miners

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 Russell 2000 ETF / Technical Analysis

<ul>
<li>The bifurcation between large-cap growth and small-caps that we discussed last week has continued, where small-caps have generally not been participating in the rally.</li>
<li>As we said last week, this bifurcation can continue, but it is not the type of breadth that supports a sustainable new bull market.</li>
<li>We need to see the Russell 2000 (IWM) stay above $209 in order to have confidence that the bottom is in. Meanwhile, stick with the commodity and defensive Sectors.</li>
</ul>


The bifurcation between large-cap growth and small-caps that we discussed last week has continued, where small-caps have generally not been participating in the rally.
As we said last week, this bifurcation can continue, but it is not the type of breadth that supports a sustainable new bull market.
We need to see the Russell 2000 (IWM) stay above $209 in order to have confidence that the bottom is in. Meanwhile, stick with the commodity and defensive Sectors.


Bifurcation Continues; Banks, Semiconductors, Small-Caps, Homebuilders Remain Concerns

<ul>
<li>Last week's FOMC announcement and quad witching allowed for some breadth improvement, and the S&amp;P 500, Nasdaq 100, Russell 2000, and Russell Micro Cap indexes broke above their respective downtrends.</li>
<li>While this is undoubtedly a positive, we are waiting for more confirmation. It is not uncommon to have misdirection following important FOMC meetings.</li>
<li>The Russell 2000(IWM) remains below major resistance at $209, which was support for all of 2021. This is arguably the most important resistance level in regards to the broad market.</li>
</ul>


Last week's FOMC announcement and quad witching allowed for some breadth improvement, and the S&amp;P 500, Nasdaq 100, Russell 2000, and Russell Micro Cap indexes broke above their respective downtrends.
While this is undoubtedly a positive, we are waiting for more confirmation. It is not uncommon to have misdirection following important FOMC meetings.
The Russell 2000(IWM) remains below major resistance at $209, which was support for all of 2021. This is arguably the most important resistance level in regards to the broad market.


Russell 2000 Testing Resistance; Buying Steel, Copper, Uranium, Ag Equipment Stocks

US Treasury (10 Yr Generic) / Technical Analysis

<ul>
<li>Our bottom line is that we could not be bearish as long as the IWM is above $208, the IWC is above $134-$135, and the S&amp;P 500 is above 4495.</li>
<li>These support levels have held strong, and we are now seeing the aforementioned risk-off signals starting to abate.</li>
<li>This is an encouraging sign and we remain constructive as long as the above support levels hold.</li>
</ul>


Our bottom line is that we could not be bearish as long as the IWM is above $208, the IWC is above $134-$135, and the S&amp;P 500 is above 4495.
These support levels have held strong, and we are now seeing the aforementioned risk-off signals starting to abate.
This is an encouraging sign and we remain constructive as long as the above support levels hold.


Risk-Off Signals Abating; Cyclicals Reassert as Rates Rise; Buying Fertilizer and Copper Stocks

<p>Today we highlight several metrics which provide evidence that risk appetites are improving, <em>not</em> deteriorating. This is a bullish signal for the broad market. Still, we continue to see a mixed market environment, but we remain constructive overall with the S&amp;P 500 holding above short-term support at the 50-day moving average and 4056.</p>

Today we highlight several metrics which provide evidence that risk appetites are improving, not deteriorating. This is a bullish signal for the broad market. Still, we continue to see a mixed market environment, but we remain constructive overall with the S&amp;P 500 holding above short-term support at the 50-day moving average and 4056.

Risk Appetites Improving, A Bullish Sign; Downgrading Technology To Underweight

Canada

Teck Resources Ltd. is an integrated natural resource group with activities in mining, smelting, and refining.  The Company mines zinc, copper, molybdenum, gold, and metallurgical coal in the United States, Canada, Peru, and Chile. Teck also produces refined metals, specialized metal products, and other products.

Price Gauge
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Teck Resources (TECK US)

2024 High Conviction: Junior Copper Miners

2023 was a strong year for uranium in 2024 it could be copper's time to shine due to supply issues and the "energy transition." Consider investing...

Nicolas Van Broekhoven

Bifurcation Continues; Banks, Semiconductors, Small-Caps, Homebuilders Remain Concerns

Several indexes remain below key resistance, including 4600 on $SPX, $110 on $QQEW, $209 on $IWM, $111 on $IJR, $507 on the $SOX index $SOXX, $73...

Vermilion Research

Russell 2000 Testing Resistance; Buying Steel, Copper, Uranium, Ag Equipment Stocks

The Russell 2000 $IWM remains below major resistance at $209, which was support for all of 2021. This is arguably the most important resistance...

Vermilion Research

Risk-Off Signals Abating; Cyclicals Reassert as Rates Rise; Buying Fertilizer and Copper Stocks

Risk-off signals are abating which is an encouraging sign. Charts Highlighted: IWM, IWC, JETS, BAM, CBRE, INVH, JLL, HHC, JOE, MMI, APTS, CTO, AMT,...

Vermilion Research

Risk Appetites Improving, A Bullish Sign; Downgrading Technology To Underweight

Below we highlight several metrics which provide evidence that risk appetites are improving, not deteriorating. This is a bullish signal for the...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

2024 High Conviction: Junior Copper Miners

​2023 was a strong year for uranium in 2024 it could be copper's time to shine due to supply issues and the "energy transition." Consider investing...

Nicolas Van Broekhoven

Bifurcation Continues; Banks, Semiconductors, Small-Caps, Homebuilders Remain Concerns

Several indexes remain below key resistance, including 4600 on $SPX, $110 on $QQEW, $209 on $IWM, $111 on $IJR, $507 on the $SOX index $SOXX, $73...

Vermilion Research

Russell 2000 Testing Resistance; Buying Steel, Copper, Uranium, Ag Equipment Stocks

The Russell 2000 $IWM remains below major resistance at $209, which was support for all of 2021. This is arguably the most important resistance...

Vermilion Research

Risk-Off Signals Abating; Cyclicals Reassert as Rates Rise; Buying Fertilizer and Copper Stocks

Risk-off signals are abating which is an encouraging sign. Charts Highlighted: IWM, IWC, JETS, BAM, CBRE, INVH, JLL, HHC, JOE, MMI, APTS, CTO, AMT,...

Vermilion Research

Risk Appetites Improving, A Bullish Sign; Downgrading Technology To Underweight

Below we highlight several metrics which provide evidence that risk appetites are improving, not deteriorating. This is a bullish signal for the...

Vermilion Research

2023 was a strong year for uranium in 2024 it could be copper's time to shine due to supply issues and the "energy transition." Consider investing...