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

<ul>
<li>We continue to recommend a tactical overweight to defensives (Staples, Health Care, and Utilities) as the MSCI ACWI (ACWI-US) tests the top-end of our anticipated 2023 trading range at $93.</li>
<li>We also remain overweight Europe, Japan, and India, where a lot more than just defensives continue to outperform.</li>
<li>Actionable Themes: Consumer Discretionary and Defensives, Mainly in Japan and Europe</li>
</ul>


We continue to recommend a tactical overweight to defensives (Staples, Health Care, and Utilities) as the MSCI ACWI (ACWI-US) tests the top-end of our anticipated 2023 trading range at $93.
We also remain overweight Europe, Japan, and India, where a lot more than just defensives continue to outperform.
Actionable Themes: Consumer Discretionary and Defensives, Mainly in Japan and Europe


Remain Overweight Japan, Europe, & India; Buys in Discretionary and Defensives W/ Japan/Europe Focus

iShares MSCI ACWI ETF / Technical Analysis

<ul>
<li>Our 2023 outlook, initially discussed in our January 6th 2023 Int'l Compass, was for $93 to cap upside on the MSCI ACWI (ACWI-US); this has again proven prescient.</li>
<li>Since late-January/early-February we have recommended shifting to defensives, and MSCI ACWI defensive Sectors including Health Care (IXJ-US), Utilities (JXI-US), and Consumer Staples (KXI-US) are now hitting 3-4-month RS highs.</li>
<li>With the ACWI-US just now starting to turn down after testing $93, we continue to recommend a tactical overweight to the aforementioned defensive Sectors, and also to gold miners (GDX-US).</li>
</ul>


Our 2023 outlook, initially discussed in our January 6th 2023 Int'l Compass, was for $93 to cap upside on the MSCI ACWI (ACWI-US); this has again proven prescient.
Since late-January/early-February we have recommended shifting to defensives, and MSCI ACWI defensive Sectors including Health Care (IXJ-US), Utilities (JXI-US), and Consumer Staples (KXI-US) are now hitting 3-4-month RS highs.
With the ACWI-US just now starting to turn down after testing $93, we continue to recommend a tactical overweight to the aforementioned defensive Sectors, and also to gold miners (GDX-US).


Stay Tactically Overweight Defensives; Remain Overweight Europe, Japan, & EAFE. Buys in Defensives

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/oneness-biotech-co-ltd" target="_blank" data-smartkarma-citation="entities:6357:1" rel="noopener">Oneness Biotech (4743 TT)'s</a> approved drug in Taiwan, Fespixon is the world’s first drug to treat diabetic foot ulcers with superiority in complete wound closure to the standard of care.</li>
<li>Fespixon is under review in China, and is under multiple NDA submissions to Asian health authorities. The U.S. phase 3 study is expected to be completed in H1 2023.</li>
<li>Key milestones are expected from two other late-stage pipeline drug candidates, FB825 and FB704A in 2022 and beyond.    </li>
</ul>



Oneness Biotech (4743 TT)'s approved drug in Taiwan, Fespixon is the world’s first drug to treat diabetic foot ulcers with superiority in complete wound closure to the standard of care.
Fespixon is under review in China, and is under multiple NDA submissions to Asian health authorities. The U.S. phase 3 study is expected to be completed in H1 2023.
Key milestones are expected from two other late-stage pipeline drug candidates, FB825 and FB704A in 2022 and beyond.    


Oneness Biotech (4743 TT): Worth of Attention Ahead of Upcoming Key Milestones

With U.S. markets stumbling, the MSCI ACWI index is breaking down to new lows: defensive Sectors remain attractive. Relative to MSCI ACWI however, emerging markets are the place to be. China, Brazil, Hungary, Qatar, India, Poland, and Indonesia all display positive price and/or RS trends. In this report we recap technical important levels on all major indexes and highlight attractive stocks within Real Estate, Health Care/Pharma, Precious Metals Mining, and Utilities.

With U.S. markets stumbling, the MSCI ACWI index is breaking down to new lows: defensive Sectors remain attractive. Relative to MSCI ACWI however, emerging markets are the place to be. China, Brazil, Hungary, Qatar, India, Poland, and Indonesia all display positive price and/or RS trends. In this report we recap technical important levels on all major indexes and highlight attractive stocks within Real Estate, Health Care/Pharma, Precious Metals Mining, and Utilities.

Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Smith &amp; Nephew&rsquo;s (S&amp;N) FY17 revenues of $4.77bn and trading profit of $1,048m were slightly below consensus estimates despite a strong Q4, which saw a reported 5% y-o-y growth. EPS exceeded consensus estimates. S&amp;N&rsquo;s emerging market business retained its star billing for growth across all its geographies. A core focus of the business now appears to be improvement via the newly named, but broad-ranging APEX cost reduction and efficiency programme. Last year&rsquo;s announcement on the retirement of its CEO seems to have taken on a slow and steady route to CEO transition, with the high-level commitment, involvement and execution on the APEX programme.

Smith &amp; Nephew&rsquo;s (S&amp;N) FY17 revenues of $4.77bn and trading profit of $1,048m were slightly below consensus estimates despite a strong Q4, which saw a reported 5% y-o-y growth. EPS exceeded consensus estimates. S&amp;N&rsquo;s emerging market business retained its star billing for growth across all its geographies. A core focus of the business now appears to be improvement via the newly named, but broad-ranging APEX cost reduction and efficiency programme. Last year&rsquo;s announcement on the retirement of its CEO seems to have taken on a slow and steady route to CEO transition, with the high-level commitment, involvement and execution on the APEX programme.

Smith & Nephew - Challenges being addressed

United Kingdom

Smith & Nephew plc develops and markets advanced medical devices. The Group is involved in orthopaedics, endoscopy, and advanced wound management.

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Smith & Nephew (SN/ LN)

Remain Overweight Japan, Europe, & India; Buys in Discretionary and Defensives W/ Japan/Europe Focus

We continue to recommend a tactical overweight to defensives as $ACWI tests the top-end of our anticipated 2023 trading range at $93. Remain...

Vermilion Research

Stay Tactically Overweight Defensives; Remain Overweight Europe, Japan, & EAFE. Buys in Defensives

$93 on $ACWI continues to be a key resistance that we have discussed since early-Jan as capping upside for 2023. Stick with defensives $IXJ $XLV...

Vermilion Research

Oneness Biotech (4743 TT): Worth of Attention Ahead of Upcoming Key Milestones

The company’s flagship drug Fespixon has $14 billion global market opportunity, while other late-stage pipeline entail visibility in the long-term....

Tina Banerjee

Global Markets Deteriorating...Except EM

With U.S. markets stumbling, the MSCI ACWI index is breaking down to new lows: defensive Sectors remain attractive. Relative to MSCI ACWI however,...

Vermilion Research

Smith & Nephew - Challenges being addressed

Smith & Nephew’s (S&N) FY17 revenues of $4.77bn and trading profit of $1,048m were slightly below consensus estimates despite a strong Q4,...

Edison Investment Research

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