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

Major global indexes (MSCI ACWI, ACWI ex-US, EM, and EAFE) continue to trend higher and are devoid of bearish inflections. Additionally, the US dollar (DXY) is likely headed lower, something we view as a positive risk-on signal for global equities. As a result, we remain bullish and we continue to recommend adding exposure on pullbacks.

Major global indexes (MSCI ACWI, ACWI ex-US, EM, and EAFE) continue to trend higher and are devoid of bearish inflections. Additionally, the US dollar (DXY) is likely headed lower, something we view as a positive risk-on signal for global equities. As a result, we remain bullish and we continue to recommend adding exposure on pullbacks.

Japan Breaking Out; EM Remains Leadership

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Last Week in Event SPACE: Alpine/Alps, Renault, Takeda, Trade Me, Holcim, Toshiba, GMO

Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

Kawasaki Heavy Industries / Equity Bottom-Up

KHI has positioned its aerospace and aero engine businesses as their biggest growth driver over the medium-term. Revenue and margins should be propelled by expanding production for the 787 and eventually the 777X on the civilian side while we also believe there is upside from overseas sales of the company P-1 maritime patrol aircraft and C-2 transport aircraft as well as a potential civilian cargo derivative of the C-2. Aero engines should be supported by expanding MRO business for the venerable…

KHI has positioned its aerospace and aero engine businesses as their biggest growth driver over the medium-term. Revenue and margins should be propelled by expanding production for the 787 and eventually the 777X on the civilian side while we also believe there is upside from overseas sales of the company P-1 maritime patrol aircraft and C-2 transport aircraft as well as a potential civilian cargo derivative of the C-2. Aero engines should be supported by expanding MRO business for the venerable…

Geared High-Bypass Turbofans Key to Aero Engine Efficiency Improvements

TSE Tokyo Price Index TOPIX / Technical Analysis

Japan’s breakout adds to an attractive global trendJapan’s base breakout, Europe’s rebound at the 200-day, and EM’s advance to all-time highs – it’s this technical panorama that confirms a risk-on environment, and supports a bullish outlook. Ignore the daily charts—the source of noise—and stick with the weeklies—they tell the true story: up and to the right.In today’s report, we highlight actionable themes in two countries (Japan and Norway) and one sector (energy).

Japan’s breakout adds to an attractive global trendJapan’s base breakout, Europe’s rebound at the 200-day, and EM’s advance to all-time highs – it’s this technical panorama that confirms a risk-on environment, and supports a bullish outlook. Ignore the daily charts—the source of noise—and stick with the weeklies—they tell the true story: up and to the right.In today’s report, we highlight actionable themes in two countries (Japan and Norway) and one sector (energy).

Int'l Compass: Japan Is Breaking Out; Energy Stocks Are Bottoming; Norway Is Emerging as Leadership

This week I briefly look at recent (&amp; ongoing) bifurcations in <a href="https://www.smartkarma.com/entities/359" target="_blank" data-smartkarma-citation="entities:359:1">Japan Post Holdings Co Ltd (6178 JP)</a>, <a href="https://www.smartkarma.com/entities/2402" target="_blank" data-smartkarma-citation="entities:2402:1">Mitsui Engineer &amp; Shipbuild (7003 JP)</a> and <a href="https://www.smartkarma.com/entities/11265" target="_blank" data-smartkarma-citation="entities:11265:1">Iljin Holdings Co Ltd (015860 KS)</a>.These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed as a % - of at least 20%.A detailed NAV for a number of these parent/holding relationships highlighted can be found in our holdco monitor.

This week I briefly look at recent (&amp; ongoing) bifurcations in Japan Post Holdings Co Ltd (6178 JP), Mitsui Engineer &amp; Shipbuild (7003 JP) and Iljin Holdings Co Ltd (015860 KS).These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed as a % - of at least 20%.A detailed NAV for a number of these parent/holding relationships highlighted can be found in our holdco monitor.

StubWorld - Set-Up & Unwind Extremes: Japan Post, Mitsui Engineer, Iljin Holdings

Japan

SUMITOMO HEAVY INDUSTRIES, LTD. manufactures and markets heavy electric machinery.  The Company's operations include heavy machinery, shipbuilding, mass-production machinery, environmental equipment, and construction machinery divisions.  Sumitomo Heavy Industries also produces equipment for semiconductor and laser technologies.

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Sumitomo Heavy Industries (6302 JP)

Japan Breaking Out; EM Remains Leadership

Major global indexes continue to trend higher and are devoid of bearish inflections. As a result, we remain bullish and we continue to recommend...

Vermilion Research

Last Week in Event SPACE: Alpine/Alps, Renault, Takeda, Trade Me, Holcim, Toshiba, GMO

Last Week in Event SPACE ... In the sordid and ongoing war for the hearts and minds of investors in Alpine Electronics (6816 JP), ISS says take...

David Blennerhassett

Geared High-Bypass Turbofans Key to Aero Engine Efficiency Improvements

KHI has positioned its aerospace and aero engine businesses as their biggest growth driver over the medium-term. Revenue and margins should be...

Mio Kato

Int'l Compass: Japan Is Breaking Out; Energy Stocks Are Bottoming; Norway Is Emerging as Leadership

Japan’s breakout adds to an attractive global trendJapan’s base breakout, Europe’s rebound at the 200-day, and EM’s advance to all-time highs –...

Vermilion Research

StubWorld - Set-Up & Unwind Extremes: Japan Post, Mitsui Engineer, Iljin Holdings

This week I briefly look at recent (& ongoing) bifurcations in Japan Post Holdings Co Ltd (6178 JP), Mitsui Engineer & Shipbuild (7003...

David Blennerhassett

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52-week Range

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