Int'l Insights: Bullish EM Stocks
Notable themes:• Tech continues to lead. Tech's long-term leadership status remains intact. This week's screen, which is abundant in tech names, reinforces this position. Another talking point: Taiwan recent broke out above a secular resistance level to all-time highs. Charts highlighted include: MediaTek (2454-TW), Compeq Manufacturing (2313-TW), Quanta Computer (2382-TW), and Pegatron (4938-TW).
• Consumer Discretionary is strengthening. Aside from tech, consumer discretionary is the only other EM sector trading near 12-month relative strength highs.
• Defense continues to lag. Consumer Staples and Utilities' relative strength trends continue to decline. The latter is trading at multi-decade lows.
• US-listed Chinese stocks. This bullish theme remains intact. Attractive names range from JOBS to NTES to YY.
• Bullish banks. Though EM's financial sector has shed relative strength in recent months, the number of attractive bank stocks is still long. Highlighted charts: ICICI Bank (532174-IN), Bank Mandiri (BMRI-ID), Credicorp (BAP).
• Transport stocks. An uptick is visible in the number of technically attractive transport charts. We like Jet Airways (532617-IN), Airports of Thailand (AOT-TH), GMR Infrastructure (532754-IN), and Yinson Holdings (7293-MY).
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Vermilion Research delivers timely, actionable, and unique research inputs to professional investors. Our research strategists highlight securities which we believe are at major inflection points, based on our various proprietary technical indicators, and offer asymmetric risk/return profiles. We believe our research methodology, which is not limited by industry sector or market capitalization, enables us to deliver superior investment recommendations.
Our process begins by organizing all actively traded stocks into coherent sectors, then into logical industry groups. We then apply our proprietary relative strength tools to identify developing price trends. Once attractive trends are identified within a selected sectors or groups, we screen for individual stocks which we believe offer the best risk/reward profile. Vermilion offers U.S. and global equity market research products. Vermilion’s research team, which has received numerous awards and accolades, has a combined 70 year of experience in the analysis of investment securities.
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