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

We continue to believe that caution is warranted in U.S. equities and we are concerned that key support levels may not hold -- notably 2,800 and the 200-day MA on the S&amp;P 500 and 4,125 and the 200-day MA on the equal-weighted S&amp;P 500. In this report we highlight several negative developments which increase the likelihood of a breakdown below these key S&amp;P 500 support levels, as well as some attractive Groups and stocks within Consumer Discretionary, Communications, Services, and Transportation.

We continue to believe that caution is warranted in U.S. equities and we are concerned that key support levels may not hold -- notably 2,800 and the 200-day MA on the S&amp;P 500 and 4,125 and the 200-day MA on the equal-weighted S&amp;P 500. In this report we highlight several negative developments which increase the likelihood of a breakdown below these key S&amp;P 500 support levels, as well as some attractive Groups and stocks within Consumer Discretionary, Communications, Services, and Transportation.

U.S. Equity Strategy: Caution Warranted; Downgrading Materials

This market is still fighting an uphill battle following the S&amp;P 500's breakdown below its 200-day moving average - a level that is now acting as formidable resistance. Our outlook remains extremely cautious due to overhead supply and the additional themes highlighted within this report.  There are a few bright spots, also in today's report we highlight attractive Groups and stocks within the Communications and Consumer Discretionary Sectors.

This market is still fighting an uphill battle following the S&amp;P 500's breakdown below its 200-day moving average - a level that is now acting as formidable resistance. Our outlook remains extremely cautious due to overhead supply and the additional themes highlighted within this report.  There are a few bright spots, also in today's report we highlight attractive Groups and stocks within the Communications and Consumer Discretionary Sectors.

U.S. Equity Update: Internals Deteriorating, Banks & Semis Have Broken Down.

Differentiated global TMT & Internet Research

New Street Research Insights

New Street Research

Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
US Healthcare
Japanese Healthcare

We also provide debt research on:
Pan European Telecom Services and Cable

Equity Bottom-Up

The Philippines is one of the few markets with zero tower sharing in Asia. This is what TowerXchange had to say in December 2017, <blockquote>There are currently no independent tower companies in the Philippines. The glass ceiling on tenancy ratios created by the market structure (...duopoly) means towercos are unlikely to prioritize the country, despite its scale (&gt;100m subscribers)...</blockquote>However, the Philippine government is keen to see a third operator enter the market to energize a telco sector badly…

The Philippines is one of the few markets with zero tower sharing in Asia. This is what TowerXchange had to say in December 2017, There are currently no independent tower companies in the Philippines. The glass ceiling on tenancy ratios created by the market structure (...duopoly) means towercos are unlikely to prioritize the country, despite its scale (&gt;100m subscribers)...However, the Philippine government is keen to see a third operator enter the market to energize a telco sector badly…

Globe Telecom: Tower Sharing Comes to the Philippines

Thematic (Sector/Industry)

New Street Research attended this year's Mobile World Congress in Barcelona recently. While the move to 5G will bring huge increases in localized wireless capacity, the transition around 2020 to 5G looks increasingly likely to be smooth for many operators, with little impact on capex or revenue trajectories. 5G does not change the key economics of network densification. Where these are good, 5G will thrive. Where they are poor, 5G deployment will be slower. Only in markets with strong asymmetry…

New Street Research attended this year's Mobile World Congress in Barcelona recently. While the move to 5G will bring huge increases in localized wireless capacity, the transition around 2020 to 5G looks increasingly likely to be smooth for many operators, with little impact on capex or revenue trajectories. 5G does not change the key economics of network densification. Where these are good, 5G will thrive. Where they are poor, 5G deployment will be slower. Only in markets with strong asymmetry…

Report from Mobile World Congress: The Transition to 5G Comes into Focus.

With markets trying to make sense of the election of President Trump, we have looked at the implications on the stocks we cover globally (the implications really are global).   There are two versions of Trump’s America: one in which he attempts to lead like a CEO, and one in which he attempts to rule like a demagogue.  We have no idea which one will come to pass (we really don’t) but the market implications of each are quite different.   In either case, with Trump promising $1tr in infrastructure…

With markets trying to make sense of the election of President Trump, we have looked at the implications on the stocks we cover globally (the implications really are global).   There are two versions of Trump’s America: one in which he attempts to lead like a CEO, and one in which he attempts to rule like a demagogue.  We have no idea which one will come to pass (we really don’t) but the market implications of each are quite different.   In either case, with Trump promising $1tr in infrastructure…

United States

SBA Communications Corporation owns and operates wireless communications infrastructure in the United States. The Company offers site leasing and development, construction, and consulting services. SBA Communications leases antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts.

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Sba Communications (SBAC US)

U.S. Equity Strategy: Caution Warranted; Downgrading Materials

We continue to believe that caution is warranted in U.S. equities and we are concerned that key support levels may not hold -- notably 2,800 and...

Vermilion Research

U.S. Equity Update: Internals Deteriorating, Banks & Semis Have Broken Down.

This market is still fighting an uphill battle following the S&P 500's breakdown below its 200-day moving average - a level that is now acting...

Vermilion Research

Report from Mobile World Congress: The Transition to 5G Comes into Focus.

New Street Research attended this year's Mobile World Congress in Barcelona recently. While the move to 5G will bring huge increases in localized...

New Street Research

What Trump Means for Global Telcos

With markets trying to make sense of the election of President Trump, we have looked at the implications on the stocks we cover globally (the...

New Street Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

U.S. Equity Strategy: Caution Warranted; Downgrading Materials

We continue to believe that caution is warranted in U.S. equities and we are concerned that key support levels may not hold -- notably 2,800 and...

Vermilion Research

U.S. Equity Update: Internals Deteriorating, Banks & Semis Have Broken Down.

This market is still fighting an uphill battle following the S&P 500's breakdown below its 200-day moving average - a level that is now acting...

Vermilion Research

Globe Telecom: Tower Sharing Comes to the Philippines

The Philippines is one of the few markets with zero tower sharing in Asia. This is what TowerXchange had to say in December 2017, There are...

New Street Research

Report from Mobile World Congress: The Transition to 5G Comes into Focus.

New Street Research attended this year's Mobile World Congress in Barcelona recently. While the move to 5G will bring huge increases in localized...

New Street Research

What Trump Means for Global Telcos

With markets trying to make sense of the election of President Trump, we have looked at the implications on the stocks we cover globally (the...

New Street Research