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

Key Points:<ul>
<li>Consumer Discretionary retailers and restaurants continue to demonstrate leadership characteristics. Many are breaking to new price and RS highs.</li>
<li>A number of small-cap E&amp;P’s have developed bullish bases and continue to have constructive RS trends.</li>
<li>A few semi supplier stocks are breaking price and RS downtrends.</li>
</ul>

Key Points:
Consumer Discretionary retailers and restaurants continue to demonstrate leadership characteristics. Many are breaking to new price and RS highs.
A number of small-cap E&amp;P’s have developed bullish bases and continue to have constructive RS trends.
A few semi supplier stocks are breaking price and RS downtrends.


Global Cross-Asset Energy Analyst, VAC Investments

Aaditya Chintalapati, CFA

Global Cross-Asset Energy Analyst

VAC Investments

Thematic (Sector/Industry)

<h2>Oil Price</h2>Crude oil prices broke their 7-week old losing streak, ending the week up c.4% with WTI at USD 68.55/bbl and Brent at USD 75.6/bbl. The shift in market sentiment was driven largely by record US refining demand, with refiners running at c.98% utilization and crack spreads seeing counter-seasonal increases. Elsewhere, the Baker Hughes rig count was broadly flat week-on-week, with oil rigs down by 9 and natural gas rigs down by 4.

Oil PriceCrude oil prices broke their 7-week old losing streak, ending the week up c.4% with WTI at USD 68.55/bbl and Brent at USD 75.6/bbl. The shift in market sentiment was driven largely by record US refining demand, with refiners running at c.98% utilization and crack spreads seeing counter-seasonal increases. Elsewhere, the Baker Hughes rig count was broadly flat week-on-week, with oil rigs down by 9 and natural gas rigs down by 4.

The recent successful test of support at the 200-day moving average has paved the way for a meaningful bounce higher on the S&amp;P 500. Given this bounce, we have become incrementally more bullish. In today’s report we highlight the bullish implications of the recent move higher for the broad market as well as attractive and actionable groups within the Energy Sector: EN-02 Oil &amp; Gas, Global, Large-Cap, EN-08 Oil and Gas E&amp;P, Domestic, Large-Cap, and EN-10 Oil and Gas E&amp;P, Domestic Small-Cap.

The recent successful test of support at the 200-day moving average has paved the way for a meaningful bounce higher on the S&amp;P 500. Given this bounce, we have become incrementally more bullish. In today’s report we highlight the bullish implications of the recent move higher for the broad market as well as attractive and actionable groups within the Energy Sector: EN-02 Oil &amp; Gas, Global, Large-Cap, EN-08 Oil and Gas E&amp;P, Domestic, Large-Cap, and EN-10 Oil and Gas E&amp;P, Domestic Small-Cap.

U.S. Equity Strategy: Opportunities in Energy Stocks

While defensive sectors continue to lag, one cyclical sector, Energy, has surged to the top of our relative strength rankings. Though we continue to expect further consolidation and volatility, current sector leadership and mostly positive breadth indicators point to a risk-on environment. In today’s report we highlight attractive and actionable groups within Energy and Health Care: EN-08 Oil and Gas E&amp;P, Domestic, Large-Cap, HC-11 Cardiovascular Products, and HC-13 Surgical Devices &amp; Equipment... see pages 10-21.

While defensive sectors continue to lag, one cyclical sector, Energy, has surged to the top of our relative strength rankings. Though we continue to expect further consolidation and volatility, current sector leadership and mostly positive breadth indicators point to a risk-on environment. In today’s report we highlight attractive and actionable groups within Energy and Health Care: EN-08 Oil and Gas E&amp;P, Domestic, Large-Cap, HC-11 Cardiovascular Products, and HC-13 Surgical Devices &amp; Equipment... see pages 10-21.

U.S. Equity Strategy: Opportunities in Energy & Health Care Stocks

LNG, Oil & Gas, M&A Market Intelligence Specialist

Massimo Bellino

More inorganic growth from the M&amp;A "winners". <a href="https://www.smartkarma.com/entities/2616" target="_blank" data-smartkarma-citation="entities:2616:1">Concho Resources Inc (CXO US)</a> said March 28 it will acquire <a href="https://www.smartkarma.com/entities/3645" target="_blank" data-smartkarma-citation="entities:3645:1">Rsp Permian Inc (RSPP US)</a> for $9.5bn, including RSP’s net debt. The all-stock merger of the two Permian-focused E&amp;P is expected to create the largest unconventional shale producer in the prolific Permian Basin. Concho Resources and RSP Permian were among the M&amp;A winners as listed in my latest report <a href="https://www.smartkarma.com/insights/oil-gas-m-a-update-part-3-who-are-the-winners-in-the-m-a-market" target="_blank" data-smartkarma-citation="insights:17445">Oil &amp; Gas M&amp;A Update (Part 3): Who Are the Winners in the M&amp;A Market?</a>. The report ranked the…

More inorganic growth from the M&amp;A "winners". Concho Resources Inc (CXO US) said March 28 it will acquire Rsp Permian Inc (RSPP US) for $9.5bn, including RSP’s net debt. The all-stock merger of the two Permian-focused E&amp;P is expected to create the largest unconventional shale producer in the prolific Permian Basin. Concho Resources and RSP Permian were among the M&amp;A winners as listed in my latest report Oil &amp; Gas M&amp;A Update (Part 3): Who Are the Winners in the M&amp;A Market?. The report ranked the…

Concho Resources, RSP Permian in $9.5bn Merger Deal. Kick-Off for More Consolidation in Oil & Gas?

United States

Hess Corporation is a global independent energy company engaged in the exploration and production of crude oil and natural gas.

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Hess Corp (HES US)

Vital Signs: Actionable U.S. Stocks

Key Points: Consumer Discretionary retailers and restaurants continue to demonstrate leadership characteristics. Many are breaking to new price and...

Vermilion Research

Global E&Ps: Energy Weekly Vol. 23

Oil PriceCrude oil prices broke their 7-week old losing streak, ending the week up c.4% with WTI at USD 68.55/bbl and Brent at USD 75.6/bbl. The...

Aaditya Chintalapati, CFA

U.S. Equity Strategy: Opportunities in Energy Stocks

The recent successful test of support at the 200-day moving average has paved the way for a meaningful bounce higher on the S&P 500. Given this...

Vermilion Research

U.S. Equity Strategy: Opportunities in Energy & Health Care Stocks

While defensive sectors continue to lag, one cyclical sector, Energy, has surged to the top of our relative strength rankings. Though we continue...

Vermilion Research

Concho Resources, RSP Permian in $9.5bn Merger Deal. Kick-Off for More Consolidation in Oil & Gas?

More inorganic growth from the M&A "winners". Concho Resources Inc (CXO US) said March 28 it will acquire Rsp Permian Inc (RSPP US) for $9.5bn,...

Massimo Bellino

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