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>The weight of the evidence suggests that the lows for this bear market have likely already been established, but that does not mean it will be smooth sailing from here.</li>
<li>The SPX and NDX are both testing important resistance levels (4165-4180 and the YTD downtrend, respectively), making this a logical spot for the indexes to stall and potentially pull back.</li>
<li>Ultimately, we would expect to see support near their 50-day MAs as the market goes through a bottoming process. We remain neutral overall.</li>
</ul>


The weight of the evidence suggests that the lows for this bear market have likely already been established, but that does not mean it will be smooth sailing from here.
The SPX and NDX are both testing important resistance levels (4165-4180 and the YTD downtrend, respectively), making this a logical spot for the indexes to stall and potentially pull back.
Ultimately, we would expect to see support near their 50-day MAs as the market goes through a bottoming process. We remain neutral overall.


S&P 500, Nasdaq 100 Testing Key Resistance Levels; Pause Likely; Buying Biotech

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Tactile Systems Technology I / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tactile-systems-technology-i" target="_blank" data-smartkarma-citation="entities:26307:1" rel="noopener">Tactile Systems Technology I (TCMD US)</a> offers pneumatic compression pump, which has total current addressable market opportunity of $10B+ in the U.S. The company’s annual run rate is ~$200M.</li>
<li>To penetrate the addressable market deeper, Tactile is aggressively expanding commercial team, which should lay the foundation for long-term sustainable revenue growth and margin expansion.</li>
<li>With the declining COVID-related headwinds, new product launch, and better commercial execution, Tactile should be well-positioned for accelerated growth trajectory.  </li>
</ul>



Tactile Systems Technology I (TCMD US) offers pneumatic compression pump, which has total current addressable market opportunity of $10B+ in the U.S. The company’s annual run rate is ~$200M.
To penetrate the addressable market deeper, Tactile is aggressively expanding commercial team, which should lay the foundation for long-term sustainable revenue growth and margin expansion.
With the declining COVID-related headwinds, new product launch, and better commercial execution, Tactile should be well-positioned for accelerated growth trajectory.  


Tactile Systems Technology (TCMD US): Subsiding COVID to Drive Mid-Teens Sales Growth in 2022

Equity Long-Short Analyst

Pyari Menon

Thematic (Sector/Industry)

While modern pharmacology has been able to produce new medicines to treat or manage most diseases, these drugs often cause unpredictable side effects, which sometimes lead to the development of secondary diseases, especially for chronic conditions. One possible alternative to the problem of sustained use of drugs is electro, radiation, and ultrasound therapy. 
In the area of electrotherapy, <a href="https://www.smartkarma.com/entities/medtronic-plc" target="_blank" data-smartkarma-citation="entities:14982:1" rel="noopener">Medtronic Plc (MDT US)</a> and <a href="https://www.smartkarma.com/entities/boston-scientific-corp" target="_blank" data-smartkarma-citation="entities:11115:1" rel="noopener">Boston Scientific (BSX US)</a> are the clear leaders by far, with dominance in the number of innovations, positive mentions, and impact of their innovations. However, with the increased use of electrotherapy for pain management and physiotherapy smaller players with unique products now compete in specific silos. Three small-cap names that screen well technologically are <a href="https://www.smartkarma.com/entities/nevro-corp" target="_blank" data-smartkarma-citation="entities:2218:1" rel="noopener">Nevro Corp (NVRO US)</a>, <a href="https://www.smartkarma.com/entities/nuvasive-inc" target="_blank" data-smartkarma-citation="entities:8384:1" rel="noopener">Nuvasive Inc (NUVA US)</a>, and <a href="https://www.smartkarma.com/entities/integer-holdings-corp" target="_blank" data-smartkarma-citation="entities:18313:1" rel="noopener">Greatbatch Inc (ITGR US)</a>.
In Radiotherapy <a href="https://www.smartkarma.com/entities/siemens-healthineers-ag" target="_blank" data-smartkarma-citation="entities:29221:1" rel="noopener">Siemens Healthineers AG (SHL GR)</a>  leads the field.  Surprisingly a private company Aerin Medical which provides treatment options for chronic nasal conditions and is a play on rising allergies and sleep apnoea comes in second
In Ultrasound therapy, <a href="https://www.smartkarma.com/entities/johnson-johnson" target="_blank" data-smartkarma-citation="entities:1132:1" rel="noopener">Johnson &amp; Johnson (JNJ US)</a> tops the list. A small-cap company <a href="https://www.smartkarma.com/entities/butterfly-network-inc" target="_blank" data-smartkarma-citation="entities:33050:1" rel="noopener">Butterfly Network Inc (BFLY US)</a> prima facie seems to have products that could potentially change the way ultrasound scans are performed as their technologies allow for use of small portable equipment in conjunction with a smartphone or tablet to create an ultrasound machine.

While modern pharmacology has been able to produce new medicines to treat or manage most diseases, these drugs often cause unpredictable side effects, which sometimes lead to the development of secondary diseases, especially for chronic conditions. One possible alternative to the problem of sustained use of drugs is electro, radiation, and ultrasound therapy. 
In the area of electrotherapy, Medtronic Plc (MDT US) and Boston Scientific (BSX US) are the clear leaders by far, with dominance in the number of innovations, positive mentions, and impact of their innovations. However, with the increased use of electrotherapy for pain management and physiotherapy smaller players with unique products now compete in specific silos. Three small-cap names that screen well technologically are Nevro Corp (NVRO US), Nuvasive Inc (NUVA US), and Greatbatch Inc (ITGR US).
In Radiotherapy Siemens Healthineers AG (SHL GR)  leads the field.  Surprisingly a private company Aerin Medical which provides treatment options for chronic nasal conditions and is a play on rising allergies and sleep apnoea comes in second
In Ultrasound therapy, Johnson &amp; Johnson (JNJ US) tops the list. A small-cap company Butterfly Network Inc (BFLY US) prima facie seems to have products that could potentially change the way ultrasound scans are performed as their technologies allow for use of small portable equipment in conjunction with a smartphone or tablet to create an ultrasound machine.

Stock Ideas Based on Data Mined from Technical Publications - Electro, Radio, & Ultrasound Therapies

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

United States

Nevro Corporation develops pain relief products. The Company designs spinal cord stimulation therapy products to relieve chronic pain in the legs and the back, as well as offers physical therapy and conservative, spine surgery, and modulation therapies. Nevro extends its products internationally.

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Nevro Corp (NVRO US)

S&P 500, Nasdaq 100 Testing Key Resistance Levels; Pause Likely; Buying Biotech

$SPX is testing important resistance in the 4165-4180 area, the same resistance level we were monitoring in early June before the market tumbled 13...

Vermilion Research

Tactile Systems Technology (TCMD US): Subsiding COVID to Drive Mid-Teens Sales Growth in 2022

Tactile Systems has a significant runway ahead as the company continues to penetrate the combined multibillion-dollar annual addressable market...

Tina Banerjee

Stock Ideas Based on Data Mined from Technical Publications - Electro, Radio, & Ultrasound Therapies

The report identifies companies best positioned in Electro, Radiation, and Ultrasound therapeutic technologies. These therapies are a safer...

Pyari Menon

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

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