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

TSE Tokyo Price Index TOPIX / Technical Analysis

Economic data finally confirms what the charts have been saying all year: global growth in the major regions is now in sync.  We see the bullish advance in equities continuing well into 2018, a continuation of a long-term trend. However, the Sectors that propel this trend may be different.In our December International Strategy, we explore these and the following themes in further detail: <ul><li>Overweight Japan. </li><li>Cyclicals continue to lead, defensive continues to lag. </li><li>Actionable Sector/Group themes:<ol><li>Global banks are breaking out/bullishly inflecting. </li><li>Energy is bottoming – still a non-consensus view. </li><li>Pullback opportunity in metals &amp; mining.</li></ol></li></ul>

Economic data finally confirms what the charts have been saying all year: global growth in the major regions is now in sync.  We see the bullish advance in equities continuing well into 2018, a continuation of a long-term trend. However, the Sectors that propel this trend may be different.In our December International Strategy, we explore these and the following themes in further detail: Overweight Japan. Cyclicals continue to lead, defensive continues to lag. Actionable Sector/Group themes:Global banks are breaking out/bullishly inflecting. Energy is bottoming – still a non-consensus view. Pullback opportunity in metals &amp; mining.

International Equity Strategy: Bullish Big Picture

Global Cross-Asset Energy Analyst, VAC Investments

Aaditya Chintalapati, CFA

Global Cross-Asset Energy Analyst

Thematic (Sector/Industry)

<h2>Oil Price</h2>Crude prices fell through the week driven by concerns around continued US production growth and doubts about Russia's commitment to a likely OPEC quota cut extension when they meet on 30 November. However, prices rebounded on Friday following encouraging comments by Saudi Arabia's Energy Minister as well a leak and subsequent shutdown of the 590 Kbbls/day TransCanada pipeline, to end the week broadly flat. Brent ended the week at USD 62.72/bbl, with WTI at USD 56.55/bbl.  Our take: My…

Oil PriceCrude prices fell through the week driven by concerns around continued US production growth and doubts about Russia's commitment to a likely OPEC quota cut extension when they meet on 30 November. However, prices rebounded on Friday following encouraging comments by Saudi Arabia's Energy Minister as well a leak and subsequent shutdown of the 590 Kbbls/day TransCanada pipeline, to end the week broadly flat. Brent ended the week at USD 62.72/bbl, with WTI at USD 56.55/bbl.  Our take: My…

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

Woodside Petroleum / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/22108" target="_blank" data-smartkarma-citation="entities:22108:1">Royal Dutch Shell PLC (RDSA LN)</a> is selling USD1,704m shares in <a href="https://www.smartkarma.com/entities/177" target="_blank" data-smartkarma-citation="entities:177:1">Woodside Petroleum Ltd (WPL AU)</a>, three years after its last sold down in 2014. In this insight, we will look at the background of the sell down, fundamentals of WPL and score the deal in our ECM Framework.<h2>Placement Specifics</h2><ul>
<li>Company Name: Woodside Petroleum Ltd</li>
<li>Ticker: WPL AU Equity</li>
<li>Secondary offering</li>
<li>Settlement date:16 Nov, 2017</li>
<li>Bookrunner: MS, UBS</li>
<li>Indicative deal price: 31.1 fixed</li>
<li>Last Traded Price: AUD32.24</li>
<li>Implied placing discount: 3.50%</li>
<li>…</li>
</ul>

Royal Dutch Shell PLC (RDSA LN) is selling USD1,704m shares in Woodside Petroleum Ltd (WPL AU), three years after its last sold down in 2014. In this insight, we will look at the background of the sell down, fundamentals of WPL and score the deal in our ECM Framework.Placement Specifics
Company Name: Woodside Petroleum Ltd
Ticker: WPL AU Equity
Secondary offering
Settlement date:16 Nov, 2017
Bookrunner: MS, UBS
Indicative deal price: 31.1 fixed
Last Traded Price: AUD32.24
Implied placing discount: 3.50%
…


Woodside Petroleum - USD1.7bn Block by Shell at the Juncture of LNG Oversupply

MSCI Emerging Markets Index / Technical Analysis

Sector trends are telling a bullish narrative. Cyclical sectors continue to lead, with tech at the helm, and defensive segments still exhibit lagging relative strength trends. Combined, this relationship is visible in the consumer discretionary/staples ratio, which is breaking out to multi-year highs. In today’s report we highlight the following themes:<ul><li>Auto stocks are breaking out -- buy. Highlighted charts include: Daimler (DAI-DE), Ford (F), Hyundai Motor (005380-KR), Peugeot (UG-FR), Renault (RNO-FR), and Volkswagen (VOW-DE). Increase exposure... see page 4-5</li><li>Energy is bottoming -- buy (reiteration). We highlight a wide selection of actionable names, both small- and large-caps, developed and emerging... see page 6-9</li></ul>

Sector trends are telling a bullish narrative. Cyclical sectors continue to lead, with tech at the helm, and defensive segments still exhibit lagging relative strength trends. Combined, this relationship is visible in the consumer discretionary/staples ratio, which is breaking out to multi-year highs. In today’s report we highlight the following themes:Auto stocks are breaking out -- buy. Highlighted charts include: Daimler (DAI-DE), Ford (F), Hyundai Motor (005380-KR), Peugeot (UG-FR), Renault (RNO-FR), and Volkswagen (VOW-DE). Increase exposure... see page 4-5Energy is bottoming -- buy (reiteration). We highlight a wide selection of actionable names, both small- and large-caps, developed and emerging... see page 6-9

Int'l Equity Strategy: Buy Energy, Global Autos

We are seeing a majority of energy-related equities stage bullish price and RS reversals, emerging from bullish bases and breaking to multi-month highs.In this report we focus on bullish opportunities in E&amp;P companies.  We will continue to monitor the service related names for signs of similar price action.Highlighted and actionable charts: TOT, RDS.A, BP, PBR, EOG, OXY, APC, MRO, MUR, IMO, ECA, CXO, CLR, COG, XEC, PDCE, SRCI and SM.

We are seeing a majority of energy-related equities stage bullish price and RS reversals, emerging from bullish bases and breaking to multi-month highs.In this report we focus on bullish opportunities in E&amp;P companies.  We will continue to monitor the service related names for signs of similar price action.Highlighted and actionable charts: TOT, RDS.A, BP, PBR, EOG, OXY, APC, MRO, MUR, IMO, ECA, CXO, CLR, COG, XEC, PDCE, SRCI and SM.

United Kingdom

Shell PLC explores and refines petroleum products. The Company produces fuels, chemicals, and lubricants. Shell serves clients worldwide.

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Shell PLC (SHEL LN)

International Equity Strategy: Bullish Big Picture

Economic data finally confirms what the charts have been saying all year: global growth in the major regions is now in sync. We see the bullish...

Vermilion Research

Global E&Ps: Energy Weekly Vol. 2

Oil PriceCrude prices fell through the week driven by concerns around continued US production growth and doubts about Russia's commitment to a...

Aaditya Chintalapati, CFA

Woodside Petroleum - USD1.7bn Block by Shell at the Juncture of LNG Oversupply

Royal Dutch Shell PLC (RDSA LN) is selling USD1,704m shares in Woodside Petroleum Ltd (WPL AU), three years after its last sold down in 2014. In...

Ke Yan, CFA, FRM

Int'l Equity Strategy: Buy Energy, Global Autos

Sector trends are telling a bullish narrative. Cyclical sectors continue to lead, with tech at the helm, and defensive segments still exhibit...

Vermilion Research

Energy Stocks Bottoming

We are seeing a majority of energy-related equities stage bullish price and RS reversals, emerging from bullish bases and breaking to multi-month...

Vermilion Research

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