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

<p>While the S&amp;P 500 has hit marginal new highs, price action of the S&amp;P 500 and the price and RS of several Sectors/subsectors is similar to the periods leading up to the October 2018 and May 2019 breakdowns. We draw several similarities in today’s report, and we continue to believe upside is likely to be muted from here barring additional positive developments.</p>

While the S&amp;P 500 has hit marginal new highs, price action of the S&amp;P 500 and the price and RS of several Sectors/subsectors is similar to the periods leading up to the October 2018 and May 2019 breakdowns. We draw several similarities in today’s report, and we continue to believe upside is likely to be muted from here barring additional positive developments.

U.S. Equities: Mixed Signals Punctuate Muted Outlook

United States

Genpact Limited designs and manages business operations to manage risk and compliance. The Company focuses on the areas of finance and procurement, financial services account servicing, claims management, regulatory affairs, and industrial asset optimization. Genpact operates worldwide.

CACI International Inc. provides information technology products and services. The Company delivers client solutions for systems integration, information assurance and security, reengineering, logistics and engineering support, electronic commerce, and other solutions.  CACI serves government and commercial markets primarily in North America and Western Europe.

WEX Inc. provides payment processing and information management services to the United States commercial and government vehicle fleet industry. The Company markets services directly to businesses and government agencies with vehicle fleets, automotive manufacturers, fuel retailers.

Jack Henry & Associates, Inc. develops, markets, and installs integrated computer systems for in-house and service bureau data processing to banks and other financial institutions.  Jack Henry also performs data conversion and software installation and customization for the implementation of its systems along with continuing customer maintenance.

Science Applications International Corp. provides consulting services. The Company offers scientific, engineering, and technology applications and solutions to solve problems. Science Applications International  serves security, energy, environmental, health, and infrastructure markets throughout the world.

Amdocs Limited provides product-driven information system solutions to major telecommunications companies in the United States and internationally.  The Company provides integrated customer care and billing systems for wireless and wireline network operators and service providers, as well as for companies that offer multiple service packages.

Okta, Inc. develops internet applications software. The Company offers automated user management, integration, mobile identification, multifactor authentication, and reporting software. Okta serves customers worldwide.

Twilio Inc. develops and publishes Internet infrastructure solutions. The Company offers cloud computing platform that allow web developers to integrate phone calls, Internet protocol voice communications, and text messages into web, mobile, and phone applications. Twilio serves customers worldwide.

MAXIMUS, Inc. provides program management and consulting services to state and local governments throughout the United States.  The Company's services are designed to make government operations more efficient and cost effective while improving the quality of the services provided to program beneficiaries.

Booz Allen Hamilton Holding Corp. provides management and technology consulting services to the U.S. government in the defense, intelligence and civil markets. The Company offers economic and business analysis, information technology, intelligence and operations analysis, modeling and simulation, organization and other consulting services.

Samsung SDS Co., Ltd. provides information technology services, such as consulting and technical services. The Company also offers outsourcing services including application outsourcing, IT infrastructure outsourcing, and cloud computing.

Computershare Limited operates share registries and computer bureaus which includes the administration of employee share and option plans and the provision of software that specializes in share registry, financial and stock markets. The Company also provides corporate trust services and acts as a trustee for clients' debt offerings in certain markets.

OBIC Co., Ltd. provides computer system integration, office automation, consultation, and system support services primarily for small and medium size companies.  The Company sells, leases, and maintains computers, peripherals, and related systems.  OBIC also develops and sells customized software and network systems.

ITOCHU Techno-Solutions Corporation develops and constructs computer network systems and software.  The Company also provides system maintenance services. Itochu Techno-Solutions also offers solution consulting services.

OTSUKA Corporation designs, constructs, and develops computer information system and software.  The Company also sells computer peripherals, facsimiles, copy machines, and telecommunication equipment.  Otsuka offers computer training classes for its customers.

Mphasis Limited is a global IT and BPO service provider to G2000 companies around the globe, assists its clients in innovating and streamlining their business processes by offering custom solutions for technology and operations outsourcing. The Company focuses on financial services, logistics and technology verticals.

Tech Mahindra Ltd. develops and markets computer software.  The Company markets software for telecommunications equipment manufacturers, telecom service providers, software vendors, and systems integrators.

Persistent Systems Limited offers outsourced software product development. The Company offer services that include testing, support, and professional services.

Nomura Research Institute, Ltd. provides information technology, research, consulting, and analyzing for business strategy decision-making.  The Company also provides application software for system operation services.

SCSK Corporation provides a variety of IT services including system solutions, software development, and data center and communication network management. The Company sells packaged software and network equipment and develops software for distribution, manufacturing, and financial systems among others.  SCSK handles infrastructure software as well.

EPAM Systems, Inc. provides software development, outsourcing services, e-business, enterprise relationship management, and content management solutions.

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Epam Systems (EPAM US)

U.S. Equities: Mixed Signals Punctuate Muted Outlook

While the S&P 500 has hit marginal new highs, price action of the S&P 500 and the price and RS of several Sectors/subsectors is similar to...

Vermilion Research

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52-week Range

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