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 and Quantitative Research

India Finally Showing Signs of Life; Remain Overweight Taiwan, China, Korea, and the U.S.

Expecting Upside to Continue into Early-2026 for Global Equities $ACWI

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly 7 to 21 November 2025)

Europe Breaking Out From 7-Month Base -- Buy; Remain Overweight Taiwan, China, Korea, and the U.S.

Buys in Japan and Europe; China Pulling Back -- Buy; MSCI ACWI Uptrend Intact

Sticking With China; Bullish Outlook Intact. Buys in Consumer Discretionary, Materials, and Tech

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

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), with Int’l Compass reports all echoing this sentiment.</li>
<li>Our bullish near-term outlook will remain in place as long as the 5+ month uptrend continues on ACWI-US. So far, the latest pullback is testing the uptrend -- buy/stay long.</li>
<li>We are buying the test of 7-month base support in Europe (EURO STOXX 50). China's Shanghai Composite points to a second chance breakout attempt above 1.5-month resistance -- buy/stay long</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), with Int’l Compass reports all echoing this sentiment.
Our bullish near-term outlook will remain in place as long as the 5+ month uptrend continues on ACWI-US. So far, the latest pullback is testing the uptrend -- buy/stay long.
We are buying the test of 7-month base support in Europe (EURO STOXX 50). China's Shanghai Composite points to a second chance breakout attempt above 1.5-month resistance -- buy/stay long


XCMG Construction Machinery A (000425 CH)

TSMC (Taiwan Semiconductor Manufacturing) - ADR (TSM US)

TSMC (Taiwan Semiconductor Manufacturing) - ADR

TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

TSMC (Taiwan Semiconductor Manufacturing)

LONGi Green Energy Technology (601012 CH)

Shanghai Stock Exchange Composite Index (SHCOMP INDEX)

National Silicon Industry Grou (688126 CH)

5+ Month Uptrend Support Holding on MSCI ACWI (ACWI-US); China Second Chance Breakout Likely

Hanmi Semiconductor

5+ Month Uptrend Support Holding on MSCI ACWI (ACWI-US); China Second Chance Breakout Likely