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>While the market remains in consolidation/pullback mode and we are not out of the woods, it is possible that further downside is limited from here on the S&amp;P 500</li>
<li>Since late-February, we've discussed important gap support from 2/22/24 at 4983-5050 on the SPX, with bulls in control if above 4983. Selling last week has simply filled this gap</li>
<li>4920-4950 is now support near last week's lows. Downgrade: Technology (XLK) to market weight. Upgrades: Manufacturing/Industrials (XLI) to overweight and Utilities (XLU) to market weight; individual stock buys highlighted.</li>
</ul>


While the market remains in consolidation/pullback mode and we are not out of the woods, it is possible that further downside is limited from here on the S&amp;P 500
Since late-February, we've discussed important gap support from 2/22/24 at 4983-5050 on the SPX, with bulls in control if above 4983. Selling last week has simply filled this gap
4920-4950 is now support near last week's lows. Downgrade: Technology (XLK) to market weight. Upgrades: Manufacturing/Industrials (XLI) to overweight and Utilities (XLU) to market weight; individual stock buys highlighted.


Shifting Exposure From Growth to Value; Downgrading Technology; Upgrades: Manufacturing & Utilities

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 Bottom-Up

<ul><li>Ingersoll Rand Inc. managed to exceed analyst expectations in terms of revenue and earnings.</li><li>Revenue and total company organic orders both saw a year-over-year increase.</li><li>While the PST segment margin grew by 240 basis points, the ITS segment margin increased by 200.</li></ul>

Ingersoll Rand Inc. managed to exceed analyst expectations in terms of revenue and earnings.Revenue and total company organic orders both saw a year-over-year increase.While the PST segment margin grew by 240 basis points, the ITS segment margin increased by 200.

Ingersoll Rand Inc.: Cracking The Code To Overcoming Global Supply Chain Hurdles! - Major Drivers

Dow Jones Industrial Average / Technical Analysis

<ul>
<li>The S&amp;P 500 has marginally surpassed the 4300-4325 area which we have anticipated would cap upside for 2023. </li>
<li>As noted in our 6/6/23 Compass, we are vigilant at these levels given we expect inflation to remain elevated, but we <em><strong>cannot be bearish</strong></em>if the SPX is above 4165-4200</li>
<li>Breadth has continued to improve within the Russell 2000, and the $IWM is approaching our first target of $190 following the breakout above $180. Also see breadth improving within SPX.</li>
</ul>


The S&amp;P 500 has marginally surpassed the 4300-4325 area which we have anticipated would cap upside for 2023. 
As noted in our 6/6/23 Compass, we are vigilant at these levels given we expect inflation to remain elevated, but we cannot be bearishif the SPX is above 4165-4200
Breadth has continued to improve within the Russell 2000, and the $IWM is approaching our first target of $190 following the breakout above $180. Also see breadth improving within SPX.


Dow Testing 1-Year Resistance at 34,280 Ahead of FOMC; Buy Ideas Within Manufacturing/Industrials

High Quality Stock Setups, Weekly Stock Bull Finder

Weekly Stock Bull Finder

High Quality Stock Setups

Finding high potential stock setups on quality companies

Thematic (Sector/Industry)

<ul><li>“Big Infrastructure”- Under the Surface Megatrend Continues While AI/semiconductors and related Big Tech names such as Microsoft, Nvidia, Meta, Alphabet, etc. capture significant attention within the business media today, secular growth pockets in the infrastructure space don’t seem to be gathering as much attention as it probably should deserve in the infrastructure space.</li><li>As shown in recent legislation, one of the few areas of agreement within a divided US Congress is infrastructure investment and spending.</li><li>Passed in November 2021, the the $1.2 trillion bipartisan Infrastructure Investment and Jobs Act unleashed $550 billion in new spending for things like roads and bridges ($110B), power grid modernization ($65B), railroads ($66B), water infrastructure ($55B), airports ($25B), etc.</li></ul>

“Big Infrastructure”- Under the Surface Megatrend Continues While AI/semiconductors and related Big Tech names such as Microsoft, Nvidia, Meta, Alphabet, etc. capture significant attention within the business media today, secular growth pockets in the infrastructure space don’t seem to be gathering as much attention as it probably should deserve in the infrastructure space.As shown in recent legislation, one of the few areas of agreement within a divided US Congress is infrastructure investment and spending.Passed in November 2021, the the $1.2 trillion bipartisan Infrastructure Investment and Jobs Act unleashed $550 billion in new spending for things like roads and bridges ($110B), power grid modernization ($65B), railroads ($66B), water infrastructure ($55B), airports ($25B), etc.

Equity Capital Markets

<ul><li>It was a successful Q1 for Ingersoll Rand as the company delivered an all-around beat with double-digit adjusted EBITDA and EPS growth with strong free cash flow generation.</li><li>Their organic growth initiatives leveraged mega sustainability trends, digitization, and quality of life using their tool, DGX within IRX, to capture above-market growth.</li><li>With new acquisitions, they are focused on cost improvement and maintaining focus on growth, accelerating organic growth across three levers.</li></ul>

It was a successful Q1 for Ingersoll Rand as the company delivered an all-around beat with double-digit adjusted EBITDA and EPS growth with strong free cash flow generation.Their organic growth initiatives leveraged mega sustainability trends, digitization, and quality of life using their tool, DGX within IRX, to capture above-market growth.With new acquisitions, they are focused on cost improvement and maintaining focus on growth, accelerating organic growth across three levers.

Ingersoll Rand: Acquisition of Paragon Tank Truck Equipment & Other Drivers

United States

Ingersoll Rand Inc. manufactures flow control equipment. The Company offers vacuum systems, bottle blowers, pumps, and air and gas compressors. Ingersoll-Rand serves customers worldwide.

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Ingersoll Rand (IR US)

Shifting Exposure From Growth to Value; Downgrading Technology; Upgrades: Manufacturing & Utilities

Shift Exposure From Growth to Value; Downgrading Tech to market weight $XLK; Upgrading Industrials $XLI to Overweight; Upgrading Utilities $XLU to...

Vermilion Research

Ingersoll Rand Inc.: Cracking The Code To Overcoming Global Supply Chain Hurdles! - Major Drivers

Ingersoll Rand Inc. managed to exceed analyst expectations in terms of revenue and earnings. Revenue and total company organic orders both saw a...

Baptista Research

Dow Testing 1-Year Resistance at 34,280 Ahead of FOMC; Buy Ideas Within Manufacturing/Industrials

Dow $DJI Testing 1-Year Resistance at 34,280 ahead of FOMC. Breadth continues to improve within the Russell 2000 $IWM, and breadth improving within...

Vermilion Research

Weekly Stock Bullfinder - Week of 6/12

As shown in recent legislation, one of the few areas of agreement within a divided US Congress is infrastructure investment and spending.

Weekly Stock Bull Finder

Ingersoll Rand: Acquisition of Paragon Tank Truck Equipment & Other Drivers

It was a successful Q1 for Ingersoll Rand as the company delivered an all-around beat with double-digit adjusted EBITDA and EPS growth with strong...

Baptista Research

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