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

In our October International Strategy, we outline important technical levels across markets and highlight various themes which lead to our neutral outlook, along with areas of the market where we see actionable opportunities, including Japan, and global technology.

In our October International Strategy, we outline important technical levels across markets and highlight various themes which lead to our neutral outlook, along with areas of the market where we see actionable opportunities, including Japan, and global technology.

Global Equity Strategy: Neutral Outlook Intact, Japan and Global Tech Are Bright Spots.

TSE Tokyo Price Index TOPIX / Technical Analysis

Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe  developed international (EAFE) will remain in a leadership position relative to EM (MSCI EM). In this report we highlight actionable set ups within Japan, Switzerland and Australia. Within Japanese Sectors, we focus on opportunities within Technology, Financials, Health Care, and Staples. We also highlight attractive setups within European/UK Sectors, including Health Care, Industrials, Staples and Utilities.

Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe  developed international (EAFE) will remain in a leadership position relative to EM (MSCI EM). In this report we highlight actionable set ups within Japan, Switzerland and Australia. Within Japanese Sectors, we focus on opportunities within Technology, Financials, Health Care, and Staples. We also highlight attractive setups within European/UK Sectors, including Health Care, Industrials, Staples and Utilities.

At this point in time the major global indexes (MSCI ACWI, ACWI ex-US, EAFE, EM) have failed to break above their respective resistance levels, leaving us squarely in the neutral camp. We believe the aforementioned major global indexes are likely to remain below resistance or have limited upside unless and until we see more definitive signs of bottoming within cyclical value areas of the market. In this report we recap important technical levels for the major indexes and highlight actionable set-ups within the utilities, travel and leisure and consumer staples industries.

At this point in time the major global indexes (MSCI ACWI, ACWI ex-US, EAFE, EM) have failed to break above their respective resistance levels, leaving us squarely in the neutral camp. We believe the aforementioned major global indexes are likely to remain below resistance or have limited upside unless and until we see more definitive signs of bottoming within cyclical value areas of the market. In this report we recap important technical levels for the major indexes and highlight actionable set-ups within the utilities, travel and leisure and consumer staples industries.

Global Equity Strategy: Squarely in the Neutral Camp

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Thematic (Sector/Industry)

<ul class=""><li class="">RTD coffee records 5% off-trade current value and volume growth to reach THB11.9 billion and 168 million litres in 2017</li><li class="">Convenience remains the key driver of sales in RTD coffee</li><li class="">RTD coffee witnessed stronger volume growth off-trade than on-trade in 2017</li><li class="">Ajinomoto (Thailand) lead RTD coffee with a 63% off-trade value share in 2017</li><li class="">RTD coffee to record off-trade CAGRs of 6% at constant 2017 prices and 5% in volume terms in the forecast period to reach THB15.7 billion and 213 million litres in 2022</li></ul>

RTD coffee records 5% off-trade current value and volume growth to reach THB11.9 billion and 168 million litres in 2017Convenience remains the key driver of sales in RTD coffeeRTD coffee witnessed stronger volume growth off-trade than on-trade in 2017Ajinomoto (Thailand) lead RTD coffee with a 63% off-trade value share in 2017RTD coffee to record off-trade CAGRs of 6% at constant 2017 prices and 5% in volume terms in the forecast period to reach THB15.7 billion and 213 million litres in 2022

Sector Capsule: Rtd (Ready to Drink) Coffee in Thailand

<ul><li>Sports nutrition current value sales grow by 4% in 2017 to reach JPY25.5 billion</li><li>Growing participation of Japanese consumers in sporting activities bolsters demand for sports nutrition products</li><li>Sports protein powder posts the strongest current value growth rate of 5%</li><li>Ajinomoto Co Inc continues to lead sports nutrition in 2017 with a value share of 31%, closely followed by Meiji Co Ltd with a 30% share</li><li>Sports nutrition value sales at constant 2017 prices are expected to grow at a CAGR of 2% over the forecast period</li></ul>

Sports nutrition current value sales grow by 4% in 2017 to reach JPY25.5 billionGrowing participation of Japanese consumers in sporting activities bolsters demand for sports nutrition productsSports protein powder posts the strongest current value growth rate of 5%Ajinomoto Co Inc continues to lead sports nutrition in 2017 with a value share of 31%, closely followed by Meiji Co Ltd with a 30% shareSports nutrition value sales at constant 2017 prices are expected to grow at a CAGR of 2% over the forecast period

Sector Capsule: Sports Nutrition in Japan

Japan

Ajinomoto Co., Inc. produces and sells a variety of food products, including seasonings, edible oils, processed foods, beverages, and dairy products.  The Company also develops and manufactures pharmaceuticals, amino acids, and specialty chemicals.

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Ajinomoto Co (2802 JP)

Global Equity Strategy: Neutral Outlook Intact, Japan and Global Tech Are Bright Spots.

In our October International Strategy, we outline important technical levels across markets and highlight various themes which lead to our neutral...

Vermilion Research

Developed Markets Opportunities

Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe developed international (EAFE) will remain in a leadership...

Vermilion Research

Global Equity Strategy: Squarely in the Neutral Camp

At this point in time the major global indexes (MSCI ACWI, ACWI ex-US, EAFE, EM) have failed to break above their respective resistance levels,...

Vermilion Research

Sector Capsule: Rtd (Ready to Drink) Coffee in Thailand

RTD coffee records 5% off-trade current value and volume growth to reach THB11.9 billion and 168 million litres in 2017 Convenience remains the...

Euromonitor International Ltd.

Sector Capsule: Sports Nutrition in Japan

Sports nutrition current value sales grow by 4% in 2017 to reach JPY25.5 billion Growing participation of Japanese consumers in sporting...

Euromonitor International Ltd.

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