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

Financial Select Sector SPDR F / Technical Analysis

<ul>
<li>Fitch's U.S. credit downgrade has done little to change the intermediate-term trend; we continue to believe the path of least resistance is higher for the major equity indexes.</li>
<li>We remain bullish on the S&amp;P 500, and we expect to see support at its 50-day MA moving forward (currently 4415).</li>
<li>Short term supports we are watching include 4460-4475 on the S&amp;P 500, $371.50 on the $QQQ, and $190-193 on the $IWM.</li>
</ul>


Fitch's U.S. credit downgrade has done little to change the intermediate-term trend; we continue to believe the path of least resistance is higher for the major equity indexes.
We remain bullish on the S&amp;P 500, and we expect to see support at its 50-day MA moving forward (currently 4415).
Short term supports we are watching include 4460-4475 on the S&amp;P 500, $371.50 on the $QQQ, and $190-193 on the $IWM.


Upgrading Financials to Market Weight; Shift to Value Continues. Buys in Energy, Financials, Mfg.

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>Phillips 66 had a disappointing quarter failing to meet Wall Street expectations in terms of revenues as well as earnings.</li><li>The management managed to strengthen their financial position by retiring debt and resuming their share repurchase program with their cash flow production.</li><li>After completion, the management anticipates having an 87% economic interest in DCP Midstream by the second quarter of 2023.</li></ul>

Phillips 66 had a disappointing quarter failing to meet Wall Street expectations in terms of revenues as well as earnings.The management managed to strengthen their financial position by retiring debt and resuming their share repurchase program with their cash flow production.After completion, the management anticipates having an 87% economic interest in DCP Midstream by the second quarter of 2023.

Phillips 66: Expansion Of The NGL Value Chain – Key Drivers

<ul><li>With the results of Phillips 66 around the corner, the stock price has been appreciating over the past few weeks.</li><li>Among major updates, Phillips 66 has offered to acquire the public units of DCP Midstream, the natural gas company, to boost its business of natural gas liquids.</li><li>We provide the stock of Phillips 66 a ‘Hold’ rating and a revision in the target price.</li></ul>

With the results of Phillips 66 around the corner, the stock price has been appreciating over the past few weeks.Among major updates, Phillips 66 has offered to acquire the public units of DCP Midstream, the natural gas company, to boost its business of natural gas liquids.We provide the stock of Phillips 66 a ‘Hold’ rating and a revision in the target price.

Phillips 66: Potential Acquisition of DCP Midstream & Other Drivers

Credit

<ul><li>Phillips 66 is an integrated energy manufacturing and logistics company.</li><li>Earlier in the year, the company completed the buy-in of Phillips 66 Partners in midstream.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Phillips 66 is an integrated energy manufacturing and logistics company.Earlier in the year, the company completed the buy-in of Phillips 66 Partners in midstream.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Phillips 66: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>This is our first report on integrated energy player, Phillips 66.</li><li>The company delivered a strong set of results since the start of 2022 and its last quarter was an all-around beat.</li><li>Earlier in the year, the company completed the buy-in of Phillips 66 Partners in midstream.</li></ul>

This is our first report on integrated energy player, Phillips 66.The company delivered a strong set of results since the start of 2022 and its last quarter was an all-around beat.Earlier in the year, the company completed the buy-in of Phillips 66 Partners in midstream.

Phillips 66: Initiation of Coverage – The Rodeo Renewed Project & Other Key Developments

United States

Phillips 66 is a downstream energy company.  The Company's operations include oil refining, marketing and transportation.  Phillips 66's operations also include chemical manufacturing and power generation.

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Phillips 66 (PSX US)

Upgrading Financials to Market Weight; Shift to Value Continues. Buys in Energy, Financials, Mfg.

Upgrading Financials $XLF to Market Weight; The Shift to Value Continues. Short term supports we are watching include 4460-4475 on the $SPX,...

Vermilion Research

Phillips 66: Expansion Of The NGL Value Chain – Key Drivers

Phillips 66 had a disappointing quarter failing to meet Wall Street expectations in terms of revenues as well as earnings. The management managed...

Baptista Research

Phillips 66: Potential Acquisition of DCP Midstream & Other Drivers

With the results of Phillips 66 around the corner, the stock price has been appreciating over the past few weeks. Among major updates, Phillips 66...

Baptista Research

Phillips 66: Detailed Credit Analysis & Financial Strength Evaluation Report

Phillips 66 is an integrated energy manufacturing and logistics company. Earlier in the year, the company completed the buy-in of Phillips 66...

Baptista Research

Phillips 66: Initiation of Coverage – The Rodeo Renewed Project & Other Key Developments

This is our first report on integrated energy player, Phillips 66. The company delivered a strong set of results since the start of 2022 and its...

Baptista Research

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