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

<ul>
<li>Last week we discussed potential for a 2-5% rally to the 1.5-month downtrend on SPX, or even the 4165-4200 range, which would set up an opportunity to get more defensive.</li>
<li>As long as the S&amp;P 500 is below Wednesdays high of 4040 we continue to believe the bears are in control -- stay defensive.</li>
<li>Even if there is a reversal, we still expect 4165-4200 on SPX to cap upside for 2023. We highlight many buy opportunities within Consumer Staples</li>
</ul>


Last week we discussed potential for a 2-5% rally to the 1.5-month downtrend on SPX, or even the 4165-4200 range, which would set up an opportunity to get more defensive.
As long as the S&amp;P 500 is below Wednesdays high of 4040 we continue to believe the bears are in control -- stay defensive.
Even if there is a reversal, we still expect 4165-4200 on SPX to cap upside for 2023. We highlight many buy opportunities within Consumer Staples


S&P 500, Nasdaq 100, DJIA All Testing Resistance; Downgrading Financials to Underweight; Buy Staples

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.

Equity Capital Markets

Church & Dwight Co / Equity Capital Markets

<ul><li>Church & Dwight delivered a strong set of results in the last quarter, with revenue growth of around 0.4% that was beyond Wall Street expectations.</li><li>Its international business delivered 3.2% organic growth, driven by impressive performance across international subsidiaries.</li><li>On the other hand, TROJAN condoms returned to share growth, while OXICLEAN stain removers and ARM & HAMMER baking soda achieved double-digit consumption growth.</li></ul>

Church & Dwight delivered a strong set of results in the last quarter, with revenue growth of around 0.4% that was beyond Wall Street expectations.Its international business delivered 3.2% organic growth, driven by impressive performance across international subsidiaries.On the other hand, TROJAN condoms returned to share growth, while OXICLEAN stain removers and ARM & HAMMER baking soda achieved double-digit consumption growth.

<ul><li>Church & Dwight has recently been in the news for its acquisition of the Hero Might Patch brand.</li><li>In the last quarter, Church & Dwight increased consumption in 11 of the 17 categories in which they participate, in some cases on top of significant increases in consumption from the previous year.</li><li>One of their acquisitions, Therabreath, had a great quarter with 33% consumption growth.</li></ul>

Church & Dwight has recently been in the news for its acquisition of the Hero Might Patch brand.In the last quarter, Church & Dwight increased consumption in 11 of the 17 categories in which they participate, in some cases on top of significant increases in consumption from the previous year.One of their acquisitions, Therabreath, had a great quarter with 33% consumption growth.

Church & Dwight: The Hero Acquisition & Other Drivers

Credit

<ul><li>The consumer goods industry is currently facing widespread labor shortages and raw material inflation and Church & Dwight is no exception to this phenomenon.</li><li>The impact of Hurricane Ida was substantial, resulting in limited raw material availability for the company.</li><li>Significant inflation of co-packer costs, component costs, and materials impacted the gross margin of the company.</li></ul>

The consumer goods industry is currently facing widespread labor shortages and raw material inflation and Church & Dwight is no exception to this phenomenon.The impact of Hurricane Ida was substantial, resulting in limited raw material availability for the company.Significant inflation of co-packer costs, component costs, and materials impacted the gross margin of the company.

Church & Dwight Company: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>Despite the complexities of the widespread shortages of labor and raw materials, Church & Dwight delivered a decent the quarter and managed to beat Wall Street expectations on all counts with growth in total sales and organic sales.</li><li>The consumption of 12 out of 16 categories grew for the company and 5 of its brands, namely Zicam, Batiste, Scent Boosters, cat litter, Arm & Hammer, and vitamins, showed double-digit consumption growth.</li><li>Being conservative in our approach while valuing Church & Dwight, we provide it a ‘Hold’ rating with a revision in target price.</li></ul>

Despite the complexities of the widespread shortages of labor and raw materials, Church & Dwight delivered a decent the quarter and managed to beat Wall Street expectations on all counts with growth in total sales and organic sales.The consumption of 12 out of 16 categories grew for the company and 5 of its brands, namely Zicam, Batiste, Scent Boosters, cat litter, Arm & Hammer, and vitamins, showed double-digit consumption growth.Being conservative in our approach while valuing Church & Dwight, we provide it a ‘Hold’ rating with a revision in target price.

Church & Dwight Company: Acquisition-Led Growth & Other Drivers

United States

Church & Dwight Co., Inc. is a diversified consumer products company. The Company owns various personal products brands, including contraceptive products, vitamins, pregnancy tests, and hair removers. Church & Dwight sells its products to consumers and to industrial customers and distributors.

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Church & Dwight Co (CHD US)

S&P 500, Nasdaq 100, DJIA All Testing Resistance; Downgrading Financials to Underweight; Buy Staples

Last week (3/21) we discussed the potential for a 2-5% rally to the 1.5-month downtrend on the $SPX, or even the 4165-4200 range, which we noted...

Vermilion Research

Church & Dwight: Major Drivers

Church & Dwight delivered a strong set of results in the last quarter, with revenue growth of around 0.4% that was beyond Wall Street...

Baptista Research

Church & Dwight: The Hero Acquisition & Other Drivers

Church & Dwight has recently been in the news for its acquisition of the Hero Might Patch brand. In the last quarter, Church & Dwight...

Baptista Research

Church & Dwight Company: Detailed Credit Analysis & Financial Strength Evaluation Report

The consumer goods industry is currently facing widespread labor shortages and raw material inflation and Church & Dwight is no exception to...

Baptista Research

Church & Dwight Company: Acquisition-Led Growth & Other Drivers

Despite the complexities of the widespread shortages of labor and raw materials, Church & Dwight delivered a decent the quarter and managed to...

Baptista Research

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