India Equities 1

India Glenn Ho glenn.ho@apftrading.com Jay Ng jay.ng@apftrading.com Company Name 3I INFOTECH LTD ABAN OFFSHORE LTD ABB LTD ABG SHIPYARD LTD ABHISHEK INDUSTRIES LTD ACC LTD ACCENTIA TECHNOLOGIES LTD ACKRUTI CITY LTD ACTION CONSTRUCTION EQUIPMEN ADANI ENTERPRISES LTD ADHUNIK METALIKS LTD ADITYA BIRLA NUVO LTD ADVANTA INDIA LTD AGRO TECH FOODS LTD AHLUWALIA CONTRACTS LTD AIA ENGINEERING LTD AKZO NOBEL INDIA LTD ALEMBIC LTD ALFA LAVAL INDIA LTD ALLAHABAD BANK ALLCARGO GLOBAL LOGISTICS LT ALLIED DIGITAL SERVICES LTD ALOK INDUSTRIES LTD ALSTOM PROJECTS INDIA LTD AMARA RAJA BATTERIES LTD AMBUJA CEMENTS LTD AMTEK AUTO LTD ANANT RAJ INDUSTRIES LTD ANDHRA BANK ANSAL PROPERTIES & INFRASTRU APAR INDUSTRIES LTD APOLLO HOSPITALS ENTERPRISE APOLLO TYRES LTD AREVA T&D INDIA LTD ARVIND LTD ASAHI INDIA GLASS LTD ASHIANA HOUSING LTD ASHOK LEYLAND LTD ASIAN PAINTS LTD ASTRA MICROWAVE PRODUCTS LTD ASTRAL POLY TECHNIK LTD ATLAS COPCO (INDIA) LTD AUROBINDO PHARMA LTD AUTOMOTIVE AXLES LTD AVENTIS PHARMA LTD AXIS BANK LTD

Website www.apftrading.com www.asiapacfinance.com Notes 1. Sectors as defined by Global Industry Classification Standard (GICS).

2. Fair Value Deviation is the deviation of Analysts' Fair Value consensus, from the share price as of the date of this report. Percentages define the extent of this deviation. Expert Opinion summarises whether the stock is under or overvalued based on the deviations. Fair Value Estimates older than 3 months are excluded.

3. Price action is quantified for Daily, Weekly and Monthly Charts using a proprietary algorithm, based on Ichimoku Kinko Hyo analysis. 100% indicates maximum bullishness while -100% indicates maximum bearishness.

4. This column indicates a "Yes" when Fundamental and Technical Indicators all point bullish. As long as any indicator displays bearishness, a "No" is displayed.

5. Stocks with Fundamental or Technical components which are non-measurable have been excluded from this list.

Using This Report Our research aims to bridge the gap between fundamental and technical analysis, with the goal of seeking alignment for high probability trades.

For Technical Anlaysis, we designed the system to identify trends, thus the alignment of daily/weekly/month price action is an important consideration. Technical Analysis will certainly be more reactive to current economics, and thus more useful for market timing.

APF Trading's approach is to seek alignment across Fundamental and Technical Analysis. This is indicated in the last column under Alignment.

B. L. KASHYAP AND SONS LTD BAJAJ AUTO LTD BAJAJ ELECTRICALS LTD BAJAJ FINANCE LTD BAJAJ FINSERV LTD BAJAJ HINDUSTHAN LTD BAJAJ HOLDINGS AND INVESTMEN BALAJI TELEFILMS LTD BALKRISHNA INDUSTRIES LTD BALLARPUR INDUSTRIES LTD BALRAMPUR CHINI MILLS LTD BANCO PRODUCTS (INDIA) LTD BANK OF BARODA BANK OF INDIA BASF INDIA LTD BATA INDIA LTD BAYER CROPSCIENCE LTD BEML LTD BERGER PAINTS INDIA LTD BGR ENERGY SYSTEMS LTD BHARAT BIJLEE LTD BHARAT ELECTRONICS LTD BHARAT FORGE LTD BHARAT HEAVY ELECTRICALS BHARAT PETROLEUM CORP LTD BHARATI SHIPYARD LTD BHARTI AIRTEL LTD BHUSHAN STEEL LTD BILCARE LTD BIOCON LTD BIRLA CORP LTD BLUE STAR LTD BOMBAY DYEING & MFG CO LTD BOMBAY RAYON FASHIONS LTD BOSCH LTD BRIGADE ENTERPRISES LTD BRITANNIA INDUSTRIES LTD C & C CONSTRUCTIONS LTD CADILA HEALTHCARE LTD CAIRN INDIA LTD CAMSON BIO TECHNOLOGIES LTD CANARA BANK CARBORUNDUM UNIVERSAL LTD CASTROL INDIA LTD CEAT LTD CENTRAL BANK OF INDIA CENTURY PLYBOARDS INDIA LTD CENTURY TEXTILES & INDS LTD CESC LTD CHAMBAL FERTILIZERS & CHEM CHENNAI PETROLEUM CORP LTD CINEMAX INDIA LTD CIPLA LTD CITY UNION BANK LTD CMC LTD

COLGATE PALMOLIVE (INDIA) CONSOLIDATED CONSTRUCTION CO CONTAINER CORP OF INDIA LTD CORE PROJECTS & TECHNOLOGIES COROMANDEL INTERNATIONAL LTD CORPORATION BANK CRISIL LTD CROMPTON GREAVES LTD CUMMINS INDIA LTD DABUR INDIA LTD DALMIA BHARAT SUGAR & INDUST DAMODAR THREADS LTD DCM SHRIRAM CONSOLIDATED DECCAN CHRONICLE HLDGS LTD DEEPAK FERTILIZERS & PETRO DELTA CORP LTD DENA BANK DEVELOPMENT CREDIT BANK LTD DEWAN HOUSING FINANCE CORP DHANLAXMI BANK LTD DHANUKA AGRITECH LTD DISH TV INDIA LTD DISHMAN PHARMACEUTICALS & CH DIVI'S LABORATORIES LTD DLF LTD DR. REDDY'S LABORATORIES DREDGING CORP OF INDIA LTD DYNAMATIC TECHNOLOGIES LTD ECLERX SERVICES LTD EDELWEISS CAPITAL LTD EDUCOMP SOLUTIONS LTD EICHER MOTORS LTD EID PARRY INDIA LTD EIH LTD ELDER PHARMACEUTICALS LTD ELECON ENGINEERING CO LTD ELECTROSTEEL CASTINGS LTD ELGI EQUIPMENTS LTD EMAMI LTD EMCO LTD ENGINEERS INDIA LTD ENTERTAINMENT NETWORK INDIA ERA INFRA ENGINEERING LTD ESCORTS LTD ESS DEE ALUMINIUM LTD ESSAR OIL LTD ESSAR SHIPPING PORTS & LOGS ESSEL PROPACK LTD EVEREST INDUSTRIES LTD EVEREST KANTO CYLINDER LTD EVERONN EDUCATION LTD EXIDE INDUSTRIES LTD FAG BEARINGS INDIA LTD FEDERAL BANK LTD FINANCIAL TECHN (INDIA) LTD

FINOLEX CABLES LTD FINOLEX INDUSTRIES LTD FIRSTSOURCE SOLUTIONS LTD FORTIS HEALTHCARE LTD GABRIEL INDIA LTD GAIL INDIA LTD GAMMON INDIA LTD GAMMON INFRASTRUCTURE PROJEC GANESH HOUSING CORP LTD GARDEN SILK MILLS LTD GARWARE OFFSHORE SERVICES LT GATEWAY DISTRIPARKS LTD GAYATRI PROJECTS LTD GDL LEASING & FINANCE LTD GEI INDUSTRIAL SYSTEMS LTD GENUS POWER INFRASTRUCTURE GEOMETRIC LTD GIC HOUSING FINANCE LTD GITANJALI GEMS LTD GLAXOSMITHKLINE CONSUMER HEA GLAXOSMITHKLINE PHARMACEUTIC GLENMARK PHARMACEUTICALS LTD GMR INFRASTRUCTURE LTD GODAWARI POWER AND ISPAT LTD GODREJ CONSUMER PRODUCTS LTD GRAPHITE INDIA LTD GRASIM INDUSTRIES LTD GREAT EASTERN SHIPPING CO GREAT OFFSHORE LTD GREAVES COTTON LTD GREENPLY INDUSTRIES LTD GRINDWELL NORTON LTD GRUH FINANCE LTD GTL INFRASTRUCTURE LTD GUJARAT APOLLO INDUSTRIES LT GUJARAT GAS CO LTD GUJARAT INDS POWER CO LTD GUJARAT MINERAL DEV CORP LTD GUJARAT NARMADA VALLEY FERT GUJARAT NRE COKE LTD GUJARAT STATE FERT & CHEMICA GUJARAT STATE PETRONET LTD GVK POWER & INFRASTRUCTURE HARRISONS MALAYALAM LTD HAVELLS INDIA LTD HCL INFOSYSTEMS LTD HCL TECHNOLOGIES LTD HDFC BANK LTD HEG LTD HERO HONDA MOTORS LTD HEXAWARE TECHNOLOGIES LTD HIMATSINGKA SEIDE LTD HINDALCO INDUSTRIES LTD HINDUJA GLOBAL SOLUTIONS LTD HINDUSTAN CONSTRUCTION CO

HINDUSTAN DORR-OLIVER LTD HINDUSTAN NATL GLASS & INDUS HINDUSTAN PETROLEUM CORP HINDUSTAN UNILEVER LTD HINDUSTAN ZINC LTD HONEYWELL AUTOMATION INDIA HOTEL LEELAVENTURE LTD HOUSING DEVELOPMENT & INFRAS HOUSING DEVELOPMENT FINANCE HSIL LTD HT MEDIA LTD HYDERABAD INDUSTRIES LTD IBN18 BROADCAST LTD ICICI BANK LTD ICRA LTD ICSA INDIA LTD IDBI BANK LTD IDEA CELLULAR LTD IFCI LTD INDIA CEMENTS LTD INDIA INFOLINE LTD INDIABULLS FINANCIAL SERVICE INDIABULLS REAL ESTATE LTD INDIAN BANK INDIAN HOTELS CO LTD INDIAN OIL CORPORATION LTD INDIAN OVERSEAS BANK INDO TECH TRANSFORMERS LTD INDOCO REMEDIES LTD INDRAPRASTHA GAS LTD INDUSIND BANK LTD INFO EDGE INDIA LTD INFOSYS TECHNOLOGIES LTD INFOTECH ENTERPRISES LTD INFRASTRUCTURE DEV FINANCE ING VYSYA BANK LTD INOX LEISURE LTD IPCA LABORATORIES LTD IRB INFRASTRUCTURE DEVELOPER ISMT LTD ITC LTD IVRCL INFRASTRUCTURES & PROJ J.B. CHEMICALS & PHARMA LTD J.KUMAR INFRAPROJECTS LTD JAGRAN PRAKASHAN LTD JAI BALAJI INDUSTRIES LTD JAIN IRRIGATION SYSTEMS LTD JAIPRAKASH ASSOCIATES LTD JAIPRAKASH POWER VENTURES LT JAMMU & KASHMIR BANK LTD JAYSHREE TEA & INDUSTRIES JBF INDUSTRIES LTD JET AIRWAYS INDIA LTD JINDAL POLY FILMS LTD JINDAL SAW LTD

JINDAL STEEL & POWER LTD JK CEMENT LTD JK LAKSHMI CEMENT LTD JK PAPER LTD JK TYRE & INDUSTRIES LTD JOCIL LTD JSW STEEL LTD JUBILANT LIFE SCIENCES LTD JYOTHY LABORATORIES LTD JYOTI STRUCTURES LTD KAJARIA CERAMICS LTD KALINDEE RAIL NIRMAN (ENGIN) KALPATARU POWER TRANSMISSION KAMAT HOTELS (INDIA) KANSAI NEROLAC PAINTS LTD KARNATAKA BANK LTD KARUR VYSYA BANK LTD KARUTURI GLOBAL LTD KAVERI SEED CO LTD KEC INTERNATIONAL LTD KEI INDUSTRIES LTD KESORAM INDUSTRIES LTD KEWAL KIRAN CLOTHING LTD KINGFISHER AIRLINES LTD KIRI DYES AND CHEMICALS LTD KIRLOSKAR BROTHERS LTD KNR CONSTRUCTIONS LTD KOTAK MAHINDRA BANK LTD KPIT CUMMINS INFOSYSTEMS LTD KPR MILL LTD KRBL LTD KS OILS LTD KSB PUMPS LTD KSK ENERGY VENTURES LTD L.G. BALAKRISHNAN & BROS LTD LAKSHMI MACHINE WORKS LTD LANCO INFRATECH LTD LARSEN & TOUBRO LTD LIC HOUSING FINANCE LTD LUPIN LTD MADHUCON PROJECTS LTD MADRAS CEMENTS LTD MAGMA FINCORP LTD MAHANAGAR TELEPHONE NIGAM MAHARASHTRA SEAMLESS LTD MAHINDRA & MAHINDRA FIN SECS MAHINDRA & MAHINDRA LTD MAHINDRA FORGINGS LTD MAHINDRA LIFESPACE DEVELOPER MAN INDUSTRIES (INDIA) LTD MANAPPURAM GEN FIN & LEASING MANGALAM CEMENT LTD MANGALORE REFINERY & PETRO MARG LTD MARICO LTD

MARUTI SUZUKI INDIA LTD MASTEK LTD MAX INDIA LTD MCLEOD RUSSEL INDIA LTD MCNALLY BHARAT ENGINEERING MERCATOR LINES LTD MERCK LTD MINDTREE LTD MIRC ELECTRONICS LTD MONNET ISPAT & ENERGY LTD MONSANTO INDIA LTD MOTHERSON SUMI SYSTEMS LTD MOTILAL OSWAL FINANCIAL SERV MPHASIS LTD MRF LTD MUNDRA PORT AND SEZ LTD NAGARJUNA CONSTRUCTION CO NAGARJUNA FERTILIZERS & CH NATIONAL ALUMINIUM CO LTD NAVA BHARAT VENTURES LTD NAVNEET PUBLICATIONS INDIA NELCO LTD NESCO LTD NESTLE INDIA LTD NETWORK 18 MEDIA & INVTS LTD NEYVELI LIGNITE CORPORATION NIIT LTD NIIT TECHNOLOGIES LTD NILKAMAL LTD NITIN FIRE PROTECTION INDS NMDC LTD NOIDA TOLL BRIDGE CO LTD NOVARTIS INDIA LTD NRB BEARINGS LTD NTPC LTD NUCLEUS SOFTWARE EXPORTS LTD OIL & NATURAL GAS CORP LTD OMAXE LTD ONMOBILE GLOBAL LTD OPTO CIRCUITS INDIA LTD ORACLE FINANCIAL SERVICES ORBIT CORPORATION LTD ORCHID CHEMICALS & PHARMA ORIENT PAPER & INDUSTRIES ORIENTAL BANK OF COMMERCE PAGE INDUSTRIES LTD PANACEA BIOTEC LTD PANTALOON RETAIL INDIA LTD PARENTERAL DRUGS INDIA LTD PARSVNATH DEVELOPERS LTD PATEL ENGINEERING LTD PATELS AIRTEMP (I) LTD PATNI COMPUTER SYSTEMS LTD PENINSULA LAND LTD PETRONET LNG LTD

PFIZER LIMITED PHILLIPS CARBON BLACK LTD PHOENIX MILLS LTD PHYTO CHEM INDIA LTD PIDILITE INDUSTRIES LTD PIRAMAL GLASS LTD PIRAMAL HEALTHCARE LTD PIX TRANSMISSIONS LTD POLARIS SOFTWARE LAB LTD POLYPLEX CORPORATION LTD POWER FINANCE CORPORATION POWER GRID CORP OF INDIA LTD PRAJ INDUSTRIES LTD PRAKASH INDUSTRIES LTD PRATIBHA INDUSTRIES LTD PRISM CEMENT LTD PROCTER & GAMBLE HYGIENE PROVOGUE (INDIA) LTD PSL LTD PTC INDIA LTD PUNJ LLOYD LTD PUNJAB NATIONAL BANK PURAVANKARA PROJECTS LTD PVR LTD RADICO KHAITAN LTD RAIN COMMODITIES LTD RAINBOW PAPERS LTD RALLIS INDIA LTD RAMKRISHNA FORGINGS LTD RANBAXY LABORATORIES LTD RANE HOLDINGS LTD RASHTRIYA CHEMICALS & FERT RATNAMANI METALS & TUBES LTD RAYMOND LTD REDINGTON INDIA LTD REI AGRO LTD RELIANCE CAPITAL LTD RELIANCE COMMUNICATIONS LTD RELIANCE INDUSTRIES LTD RELIANCE INFRASTRUCTURE LTD RELIANCE POWER LTD RELIGARE ENTERPRISES LTD RICO AUTO INDUSTRIES LTD ROLTA INDIA LTD ROYAL ORCHID HOTELS LTD RSWM LTD RUCHI SOYA INDUSTRIES LTD RURAL ELECTRIFICATION CORP S. KUMARS NATIONWIDE LTD SABERO ORGANICS GUJARAT LTD SADBHAV ENGINEERING LTD SAGAR SYSTECH LTD SANGAM (INDIA) LTD SANGHVI MOVERS LTD SARDA ENERGY & MINERALS LTD

SASKEN COMMUNICATION TECHNO SATYAM COMPUTER SERVICES LTD SELAN EXPLORATION TECHNOLOGY SESA GOA LTD SETCO AUTOMOTIVE LTD SHASUN PHARMACEUTICALS LTD SHIPPING CORP OF INDIA LTD SHIVA TEXYARN LTD SHIV-VANI OIL & GAS EXPLORAT SHOPPER'S STOP LTD SHREE CEMENT LTD SHREE RENUKA SUGARS LTD SHRI LAKSHMI COTSYN LTD SHRIRAM CITY UNION FINANCE SHRIRAM EPC LTD SHRIRAM TRANSPORT FINANCE SIEMENS INDIA LTD SIMPLEX INFRASTRUCTURES LTD SINTEX INDUSTRIES LTD SKF INDIA LTD SML ISUZU LTD SOBHA DEVELOPERS LTD SONA KOYO STEERING SYSTEMS SOUTH INDIAN BANK LTD SPICEJET LTD SRF LTD STATE BANK OF INDIA STEEL AUTHORITY OF INDIA STEEL STRIPS WHEELS LTD STERLITE INDUSTRIES INDIA LT STERLITE TECHNOLOGIES LTD STRIDES ARCOLAB LTD SUBROS LTD SUN PHARMACEUTICAL INDUS SUN TV NETWORK LTD SUNDARAM CLAYTON LTD SUNDARAM FINANCE LTD SUNDRAM FASTENERS LTD SUNIL HITECH ENGINEERS LTD SUNTECK REALTY LTD SUPRAJIT ENGINEERING LTD SUPREME INDUSTRIES LTD SUPREME INFRASTRUCTURE INDIA SURYA ROSHNI LTD SUZLON ENERGY LTD SWARAJ ENGINES LTD SYMPHONY LTD SYNDICATE BANK TAJ GVK HOTELS & RESORTS LTD TAKE SOLUTIONS LTD TAMIL NADU NEWSPRINT & PAPER TATA CHEMICALS LTD TATA COMMUNICATIONS LTD TATA CONSULTANCY SVCS LTD TATA ELXSI LTD

TATA GLOBAL BEVERAGES LTD TATA MOTORS LTD TATA POWER CO LTD TATA SPONGE IRON LTD TATA STEEL LTD TATA TELESERVICES MAHARASHTR TECH MAHINDRA LTD THERMAX LTD TIL LTD TILAKNAGAR INDUSTRIES LTD TIME TECHNOPLAST LTD TITAGARH WAGONS LTD TITAN INDUSTRIES LTD TORRENT PHARMACEUTICALS LTD TORRENT POWER LTD TRANSFORMERS & RECTIFIERS IN TRANSPORT CORP OF INDIA LTD TRENT LTD TRF LTD TRIVENI ENGINEERING & INDUS TT LTD TTK PRESTIGE LTD TUBE INVESTMENTS OF INDIA TULIP TELECOM LTD TV TODAY NETWORK LTD TVS MOTOR CO LTD UB ENGINEERING LTD UCO BANK ULTRATECH CEMENT LTD UNICHEM LABORATORIES LTD UNION BANK OF INDIA UNITECH LTD UNITED BREWERIES LTD UNITED PHOSPHORUS LTD UNITED SPIRITS LTD UNITY INFRAPROJECTS LTD USHA MARTIN LTD USHER AGRO LTD UTV SOFTWARE COMMUNICATIONS V.I.P. INDUSTRIES LTD VARDHMAN TEXTILES LTD VARUN SHIPPING CO LTD V-GUARD INDUSTRIES LTD VIJAYA BANK VIMTA LABS LTD VIPUL LTD VISA STEEL LTD VISAKA INDUSTRIES LTD VOLTAMP TRANSFORMERS LTD VOLTAS LTD VST INDUSTRIES LTD VST TILLERS TRACTORS LTD WABCO-TVS (INDIA) LTD WELSPUN CORP LTD WEST COAST PAPER MILLS LTD

WHIRLPOOL OF INDIA LTD WIPRO LTD WIRE AND WIRELESS INDIA LTD WYETH LTD YES BANK LTD ZEE ENTERTAINMENT ENTERPRISE ZEE NEWS LTD ZENSAR TECHNOLOGIES LTD ZUARI INDUSTRIES LTD ZYDUS WELLNESS LTD

Data is sourced from but not limited to Bloomberg, Thomson Reuters and

APF Trading, its data or content providers, the financial exchanges and e errors, omissions or other defects in, delays or interruptions in such data the information provided herein. As used here, "business partners" does

You agree not to copy, modify, reformat, download, store, reproduce, rep written consent. All data and information is provided "as is" for personal i executing any trade.

Either APF Trading or its third party data or content providers have exclu

India Equities 18 Mar 2011

GICS (1) Sector Software & Services Energy Capital Goods Capital Goods Consumer Durables & Apparel Materials Software & Services Real Estate Capital Goods Capital Goods Materials Capital Goods Food Beverage & Tobacco Food Beverage & Tobacco Capital Goods Capital Goods Materials Pharmaceuticals, Biotechnology Capital Goods Banks Transportation Software & Services Consumer Durables & Apparel Capital Goods Capital Goods Materials Automobiles & Components Real Estate Banks Real Estate Capital Goods Health Care Equipment & Servic Automobiles & Components Capital Goods Consumer Durables & Apparel Automobiles & Components Real Estate Capital Goods Materials Technology Hardware & Equipmen Capital Goods Capital Goods Pharmaceuticals, Biotechnology Automobiles & Components Pharmaceuticals, Biotechnology Banks Price Last Price 40.25 581.70 749.40 347.00 13.23 1,021.10 122.55 221.55 39.00 600.55 92.20 763.55 295.15 335.90 123.40 335.00 730.00 64.55 1,451.00 207.40 158.90 78.55 20.50 528.70 178.40 132.45 131.30 77.15 138.55 35.25 190.80 490.85 65.05 229.00 52.10 83.40 121.20 52.00 2,510.00 37.00 123.05 2,666.45 202.00 388.85 1,889.00 1,269.20 Fundamental Analysis (2) Fair Value Deviation 54% 35% -20% 14% 36% -7% 158% 90% 69% 17% 59% 30% -8% 25% 23% 19% 22% 23% -21% 29% 22% 144% 45% 9% 20% -6% 35% 82% 25% 155% 82% 16% 11% 22% 40% -12% 44% 45% 15% 46% 59% -37% 76% 24% -1% 24%

Capital Goods Automobiles & Components Consumer Durables & Apparel Diversified Financials Insurance Food Beverage & Tobacco Diversified Financials Media Automobiles & Components Materials Food Beverage & Tobacco Automobiles & Components Banks Banks Materials Consumer Durables & Apparel Materials Capital Goods Materials Energy Capital Goods Capital Goods Automobiles & Components Capital Goods Energy Capital Goods Telecommunication Services Materials Pharmaceuticals, Biotechnology Pharmaceuticals, Biotechnology Materials Capital Goods Consumer Durables & Apparel Consumer Durables & Apparel Automobiles & Components Real Estate Food Beverage & Tobacco Capital Goods Pharmaceuticals, Biotechnology Energy Materials Banks Capital Goods Materials Automobiles & Components Banks Capital Goods Materials Utilities Materials Energy Media Pharmaceuticals, Biotechnology Banks Software & Services

19.35 1,358.35 225.30 630.00 513.70 68.60 739.65 33.05 132.30 32.00 70.55 67.70 891.80 435.55 480.30 346.30 832.00 660.05 84.95 440.60 932.00 1,656.70 325.20 1,921.50 558.85 144.60 318.65 438.60 417.10 326.85 300.00 326.10 353.10 253.15 5,951.00 90.75 356.50 140.70 738.80 345.95 108.45 608.20 218.10 421.50 102.15 142.50 60.85 315.55 303.55 68.85 197.00 46.20 293.05 43.80 1,971.35

47% 16% 20% 49% 19% 12% 41% 21% 82% 31% 27% 52% 21% 16% 22% 21% 55% 46% 24% 53% 42% 19% 17% 35% 17% 31% 19% -2% 113% 30% 44% 23% 1% 1% 17% 70% 3% 108% 17% 2% 65% 20% 27% 6% 34% 12% 41% 50% 43% 24% 32% 4% 14% 19% 40%

Household & Personal Products Capital Goods Transportation Software & Services Materials Banks Diversified Financials Capital Goods Capital Goods Household & Personal Products Food Beverage & Tobacco #N/A N/A Materials Media Materials Consumer Durables & Apparel Banks Banks Banks Banks Materials Media Pharmaceuticals, Biotechnology Pharmaceuticals, Biotechnology Real Estate Pharmaceuticals, Biotechnology Transportation Automobiles & Components Commercial & Professional Serv Diversified Financials Consumer Services Capital Goods Materials Consumer Services Pharmaceuticals, Biotechnology Capital Goods Capital Goods Capital Goods Household & Personal Products Capital Goods Capital Goods Media Capital Goods Capital Goods Materials Energy Energy Materials Capital Goods Materials Consumer Services Automobiles & Components Capital Goods Banks Software & Services

824.35 51.00 1,187.35 314.50 286.10 546.80 5,928.00 264.05 647.90 97.00 25.50 44.50 41.40 66.35 155.00 70.15 96.20 42.35 241.55 101.60 69.75 61.80 95.00 621.15 219.95 1,493.75 325.50 1,095.00 621.25 37.10 410.10 1,159.30 209.40 81.05 357.00 65.60 30.15 90.55 361.55 58.95 306.90 220.05 190.25 134.15 403.85 118.50 88.25 43.00 135.50 71.55 543.75 130.85 774.95 372.85 754.05

0% 24% 9% 3% 28% 28% 22% 24% 17% 10% 1155% 30% 59% 76% 41% 57% 45% 60% 46% 50% 45% 12% 18% 22% 28% 15% 32% 11% 28% 31% 50% 31% 38% 14% 18% 47% 58% 0% 29% 18% 13% 24% 16% 35% 42% 25% 55% 51% 62% 64% 31% 23% 32% 24% 54%

Capital Goods Materials Software & Services Health Care Equipment & Servic Automobiles & Components Utilities Capital Goods Capital Goods Real Estate Consumer Durables & Apparel Energy Transportation Capital Goods #N/A N/A Capital Goods Technology Hardware & Equipmen Software & Services Banks Consumer Durables & Apparel Food Beverage & Tobacco Pharmaceuticals, Biotechnology Pharmaceuticals, Biotechnology Utilities Materials Household & Personal Products Capital Goods Materials Energy Energy Capital Goods Capital Goods Capital Goods Banks Telecommunication Services Capital Goods Utilities Utilities Materials Materials Materials Materials Utilities Utilities Food Beverage & Tobacco Capital Goods Software & Services Software & Services Banks Capital Goods Automobiles & Components Software & Services Consumer Durables & Apparel Materials Software & Services Capital Goods

46.00 83.40 16.15 149.10 43.30 447.90 105.75 16.85 148.55 93.00 111.15 108.00 217.35 7.21 170.40 15.50 59.35 94.75 211.45 2,060.65 2,039.80 271.40 37.05 167.85 359.90 84.05 2,435.05 255.50 235.75 84.05 189.00 213.00 324.50 36.70 132.65 400.50 86.00 129.65 89.20 49.55 355.25 98.05 24.45 80.95 349.60 100.25 450.30 2,149.30 213.85 1,473.50 54.80 32.40 196.80 340.00 34.45

78% -8% 85% 13% 43% 18% 43% 54% 95% 69% 18% 17% 76% 1745% 64% 74% 60% 59% 61% 18% 9% 34% 47% 50% 19% 28% 7% 31% 60% 34% 37% 10% 20% -2% 51% 3% 43% 23% 60% 114% 37% 27% 91% -10% 34% 18% 24% 12% 16% 14% 2% 5% 28% 53% 61%

Capital Goods Materials Energy Household & Personal Products Materials Technology Hardware & Equipmen Consumer Services Real Estate Banks Materials Media Materials Media Banks Diversified Financials Software & Services Banks Telecommunication Services Diversified Financials Materials Diversified Financials Diversified Financials Real Estate Banks Consumer Services Energy Banks Capital Goods Pharmaceuticals, Biotechnology Utilities Banks Software & Services Software & Services Software & Services Diversified Financials Banks Media Pharmaceuticals, Biotechnology Capital Goods Materials Food Beverage & Tobacco Capital Goods Pharmaceuticals, Biotechnology Capital Goods Media Materials Capital Goods Capital Goods Utilities Banks Food Beverage & Tobacco Consumer Durables & Apparel Transportation Materials Materials

77.40 210.00 332.25 269.00 126.15 2,148.00 36.60 155.50 620.30 133.00 131.35 352.30 98.00 1,002.55 1,035.00 116.15 132.95 60.65 51.85 91.65 68.90 143.75 107.55 211.40 77.25 303.50 141.40 146.30 423.00 293.90 243.25 605.00 2,941.10 160.40 143.50 297.05 49.00 289.90 180.50 48.25 167.95 71.85 133.50 134.00 113.90 167.00 183.10 82.30 38.55 767.00 163.60 164.45 453.50 426.90 186.10

39% 55% 20% 2% 10% 23% -2% 39% 16% 26% 28% 85% 25% 26% 32% 33% 37% 22% 51% 17% 32% 67% 71% 44% 40% 27% 12% 67% 27% 27% 22% 8% 24% 19% 27% 44% 37% 24% 46% 70% 17% 72% 25% 54% 32% 83% 35% 54% 74% 26% 25% 53% 64% 56% 39%

Materials Materials Materials Materials Automobiles & Components #N/A N/A Materials Pharmaceuticals, Biotechnology Household & Personal Products Capital Goods Capital Goods Capital Goods Capital Goods Consumer Services Materials Banks Banks Food Beverage & Tobacco Food Beverage & Tobacco Capital Goods Capital Goods Materials Consumer Durables & Apparel Transportation Materials Capital Goods Capital Goods Diversified Financials Software & Services Consumer Durables & Apparel Food Beverage & Tobacco Food Beverage & Tobacco Capital Goods Utilities Capital Goods Capital Goods Capital Goods Capital Goods Banks Pharmaceuticals, Biotechnology Capital Goods Materials Diversified Financials Telecommunication Services Materials Diversified Financials Automobiles & Components Automobiles & Components Real Estate Capital Goods Diversified Financials Materials Energy Capital Goods Household & Personal Products

649.80 133.00 44.60 46.15 90.80 257.30 894.75 160.45 196.45 77.80 68.35 91.85 111.20 81.80 789.60 99.35 390.45 13.05 318.15 73.25 20.55 189.55 491.10 39.60 294.60 112.95 102.00 421.00 162.70 166.50 27.75 31.05 485.95 102.00 239.85 2,087.65 35.85 1,516.20 193.50 392.35 87.30 94.00 58.70 44.05 326.00 700.05 631.10 59.95 355.00 59.75 117.75 108.65 59.30 102.45 133.60

11% 27% 52% 82% 53% 73% 28% 72% 43% 83% 46% 80% 66% 19% 11% 46% 27% 191% 28% 60% 138% 31% 10% 6% 239% 90% 59% 9% 21% 59% 24% 77% 3% 54% 58% 31% 67% 31% 9% 25% 89% 10% 66% 1% 37% 16% 23% 129% 33% 72% 30% 39% 7% 225% 0%

Automobiles & Components Software & Services Capital Goods Food Beverage & Tobacco Capital Goods Transportation Pharmaceuticals, Biotechnology Software & Services Consumer Durables & Apparel Materials Materials Automobiles & Components Diversified Financials Software & Services Automobiles & Components Transportation Capital Goods Materials Materials Capital Goods Media Technology Hardware & Equipmen Capital Goods Food Beverage & Tobacco Media Utilities Software & Services Software & Services Consumer Durables & Apparel Capital Goods Materials Capital Goods Pharmaceuticals, Biotechnology Capital Goods Utilities Software & Services Energy Real Estate Software & Services Health Care Equipment & Servic Software & Services Real Estate Pharmaceuticals, Biotechnology Materials Banks Consumer Durables & Apparel Pharmaceuticals, Biotechnology Retailing Pharmaceuticals, Biotechnology Real Estate Capital Goods #N/A N/A Software & Services Real Estate Energy

1,156.20 120.75 144.05 264.65 218.00 36.15 573.00 360.10 19.50 525.00 1,580.00 207.40 120.75 384.45 6,611.35 133.95 96.15 25.90 108.45 223.60 54.75 69.00 460.00 3,532.25 141.70 99.45 47.55 175.00 291.50 78.30 281.35 26.25 616.85 43.30 174.25 76.30 270.15 130.70 250.75 262.65 1,984.95 47.95 280.70 46.60 367.20 1,440.00 178.30 239.15 142.00 37.70 134.80 70.00 455.75 60.10 118.00

23% 33% 37% -1% 26% 57% 34% 36% -13% 17% 36% 3% 42% 26% 11% 23% 53% 39% -24% 62% 36% 384% 98% 3% 38% 38% 55% 61% 65% -14% -8% -1% 15% 54% 19% 98% 29% -1% 37% 24% 28% 122% 33% 60% 21% 18% 39% 54% 258% 20% 66% 51% 6% 18% 16%

Pharmaceuticals, Biotechnology Materials Real Estate #N/A N/A Materials Materials Pharmaceuticals, Biotechnology Capital Goods Software & Services Materials Diversified Financials Utilities Capital Goods Materials Capital Goods Materials Household & Personal Products Consumer Durables & Apparel Capital Goods Utilities Capital Goods Banks Real Estate Media Food Beverage & Tobacco Materials Materials Materials Materials Pharmaceuticals, Biotechnology Automobiles & Components Materials Materials Consumer Durables & Apparel Technology Hardware & Equipmen Food Beverage & Tobacco Diversified Financials Telecommunication Services Energy Utilities Utilities Diversified Financials Automobiles & Components Software & Services Consumer Services Consumer Durables & Apparel Food Beverage & Tobacco Diversified Financials Consumer Durables & Apparel Materials Capital Goods #N/A N/A Consumer Durables & Apparel Capital Goods Materials

1,166.00 135.00 177.55 8.50 137.00 102.05 465.25 79.10 177.20 190.55 230.45 97.95 70.60 73.80 53.45 51.15 1,767.00 38.85 68.30 81.25 61.65 1,089.05 103.50 97.25 132.00 143.25 53.00 1,264.50 103.90 468.85 240.00 76.30 126.05 290.05 73.00 28.20 576.15 104.60 993.00 627.70 121.35 489.00 16.75 135.00 63.50 141.05 100.00 223.25 51.00 37.80 106.70 65.00 43.50 107.00 189.30

10% 69% 47% 1253% 22% 78% 7% 107% 28% 172% 54% 18% 22% 136% 37% -18% -2% 136% 88% 64% 17% 26% 28% 71% 34% 57% 51% 30% 92% 11% 74% -21% 32% 67% 36% 22% 20% 15% 15% 57% 5% 7% 34% 37% 10% 64% 3% 43% 75% 30% 51% 355% 22% 62% 55%

Software & Services Software & Services Energy Materials Automobiles & Components Pharmaceuticals, Biotechnology Transportation Consumer Durables & Apparel Energy Retailing Materials Food Beverage & Tobacco Consumer Durables & Apparel Diversified Financials Capital Goods Diversified Financials Capital Goods Capital Goods Capital Goods Capital Goods Capital Goods Real Estate Automobiles & Components Banks Transportation Consumer Durables & Apparel Banks Materials Automobiles & Components Materials Technology Hardware & Equipmen Pharmaceuticals, Biotechnology Automobiles & Components Pharmaceuticals, Biotechnology Media Automobiles & Components Diversified Financials Automobiles & Components Capital Goods Real Estate Automobiles & Components Materials Capital Goods Household & Personal Products Capital Goods Capital Goods Consumer Durables & Apparel Banks Consumer Services Software & Services Materials Materials Telecommunication Services Software & Services Software & Services

151.00 67.20 330.05 259.75 114.70 50.75 106.15 43.30 266.95 334.80 1,880.00 68.70 76.70 500.00 147.90 736.80 869.15 325.00 143.45 566.00 337.50 255.95 14.55 20.55 38.60 310.00 2,590.25 156.55 231.00 158.35 46.85 336.30 31.85 434.70 437.00 145.00 471.00 47.50 105.35 304.45 19.00 142.50 193.25 97.10 45.35 416.25 1,263.20 113.25 95.45 34.00 122.70 321.95 217.05 1,082.75 237.55

19% 5% 40% 25% 59% 866% 20% 41% 59% -5% 6% 51% 103% 60% 10% 19% -12% 27% 58% 8% 26% 49% 37% 33% 78% 47% 19% 19% 66% 33% 79% 42% 40% 8% 24% 68% 41% 62% 20% 97% 50% 48% 95% 39% 22% 14% 18% 16% 61% 62% 63% 19% 5% 18% 49%

Food Beverage & Tobacco Capital Goods Utilities Materials Materials Telecommunication Services Software & Services Capital Goods Capital Goods Food Beverage & Tobacco Materials Capital Goods Consumer Durables & Apparel Pharmaceuticals, Biotechnology Utilities Capital Goods Transportation Retailing Capital Goods Food Beverage & Tobacco Consumer Durables & Apparel Consumer Durables & Apparel Automobiles & Components Telecommunication Services Media Automobiles & Components Capital Goods Banks Materials Pharmaceuticals, Biotechnology Banks Real Estate Food Beverage & Tobacco Materials Food Beverage & Tobacco Capital Goods Materials Food Beverage & Tobacco Media Consumer Durables & Apparel Consumer Durables & Apparel Transportation Capital Goods Banks Pharmaceuticals, Biotechnology Real Estate Materials Materials Capital Goods Capital Goods Food Beverage & Tobacco Capital Goods Automobiles & Components Materials Materials

97.60 1,117.45 1,222.55 318.45 597.15 14.80 704.85 572.50 499.10 54.40 57.20 312.65 3,461.95 519.80 246.85 243.50 97.00 879.00 459.00 96.55 30.40 1,993.70 128.80 139.20 61.20 57.35 80.20 99.75 1,034.30 180.30 332.80 37.05 470.60 136.00 1,024.10 55.10 54.20 89.25 530.70 646.80 251.55 26.50 158.80 72.30 21.15 14.20 45.00 98.85 550.00 157.65 642.80 430.00 922.60 201.15 77.00

13% 32% 14% 54% 25% -1% 6% 34% 57% 84% 23% 74% 16% 32% 19% 67% 38% 5% 29% 41% 38% -14% 32% 64% 41% 35% 218% 16% -3% 39% 18% 61% -16% 46% 32% 90% 44% 47% 20% 1% 69% -9% 40% 32% 103% 146% 21% 40% 15% 38% 27% 47% 43% 17% 62%

Consumer Durables & Apparel Software & Services Media Pharmaceuticals, Biotechnology Banks Media Media Software & Services Materials Food Beverage & Tobacco

245.25 439.90 7.80 817.90 274.25 118.90 10.80 151.15 582.00 577.00

8% 12% 105% 11% 32% 15% 30% 79% 54% 21%

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damental Analysis (2) Expert Opinion Undervalued Undervalued Overvalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Overvalued Undervalued Daily -55% -15% 25% -35% -60% 10% -85% -5% -80% 25% -15% -53% -75% 5% -65% -45% -35% -25% 55% 5% 70% -55% -80% -55% -5% 15% 45% -90% -10% -90% -35% 5% 53% -80% -90% -35% -75% -30% -5% -65% -55% 83% -30% -10% 65% 20%

Technical Analysis (3) Weekly -95% -85% -40% -15% -70% 30% -80% -80% -65% -5% -45% -75% -90% 35% -60% -65% -35% 40% 15% 10% -30% -75% -50% -50% -40% 5% -95% -90% 0% -75% -70% 40% -10% -70% 40% 0% -55% -50% 0% -35% -10% 90% -20% -30% 45% -5% Monthly -75% -75% -25% -25% -50% 75% 5% -70% -45% 45% -20% -20% -80% 50% -30% 45% 80% 40% 15% 50% -20% -90% -50% -20% 55% 65% -55% -60% 60% -60% -30% 65% 30% -5% 0% -5% 25% 20% 70% -65% 50% 65% 45% 10% 65% 65%

Alignment (4) Yes/No No No No No No No No No No No No No No Yes No No No No No Yes No No No No No No No No No No No Yes No No No No No No No No No No No No No No

Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued

-90% 20% 18% 5% 50% -80% -60% -85% 10% -5% -15% -60% 45% 5% -90% 15% 20% -15% -45% -75% 5% -68% -30% -90% -85% -40% -85% 40% -100% -25% -90% -70% -40% 80% -80% -88% -15% -100% -58% 65% -40% 20% -85% 33% -25% 5% 45% -40% -20% -30% -70% -33% -80% 25% -55%

-90% 15% -25% 25% 73% -85% -5% -85% 5% -35% -85% -75% 55% 35% -15% 28% -30% -80% -15% -75% -55% -50% -15% -75% -55% -90% -40% 40% -45% -20% -55% -40% -65% 15% 20% -80% -70% -85% 60% 80% -40% 40% 45% -20% -70% -30% -10% -75% -80% 0% -60% -100% -50% 40% 50%

-60% 73% 45% 50% 8% -70% 45% -90% 35% -40% -40% 25% 65% 65% 55% 55% 65% -45% 50% -10% -30% 60% 50% 50% 50% -60% -5% 40% -45% 55% 55% 50% -60% 30% 85% -40% 65% -35% 70% 78% 15% 55% 75% 65% -55% 30% 65% -45% -50% 60% -55% -50% 55% 65% 40%

No Yes No Yes Yes No No No Yes No No No Yes Yes No Yes No No No No No No No No No No No No No No No No No Yes No No No No No Yes No Yes No No No No No No No No No No No Yes No

Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued

20% -45% 15% 80% 40% -50% -10% -15% -30% 35% -80% -40% -65% -70% -60% 0% -30% -55% -80% -65% -23% 25% -75% -30% -50% -60% -85% -55% -35% -70% -75% 35% -35% -50% -65% -35% -70% 55% -75% -65% 15% 55% -80% -10% -75% 20% -30% -60% -50% -40% -30% -40% -55% 10% -15%

45% -50% -35% 75% 35% -10% 43% -25% 15% 5% -75% -65% -90% -80% -5% 40% -25% -15% -20% -75% -25% 20% -95% -55% -80% 50% -95% 25% 15% -65% -80% -15% 15% -85% 0% -80% -80% 75% 5% -73% -70% -60% -40% -55% -60% -65% -50% -35% -75% -80% 5% -5% 28% 25% -65%

75% -50% 70% 40% 80% 50% 75% 50% 50% 90% -100% 50% -60% -60% 55% 35% 65% -60% 50% 65% 80% 35% -100% 30% -65% 50% -70% 10% 75% -40% -40% 50% 50% -50% 45% -45% -45% 75% 65% -60% 30% -25% 55% 20% -5% -50% -50% -10% -5% -85% 0% 65% 75% 50% -60%

Yes No No Yes Yes No No No No Yes No No No No No No No No No No No Yes No No No No No No No No No No No No No No No Yes No No No No No No No No No No No No No No No Yes No

Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued

-45% -40% -65% 55% -10% -55% -90% -95% -55% -45% -70% 10% -35% 0% -10% -90% -90% -85% -15% -60% -75% -75% -30% -35% -25% -45% 65% -90% -55% -65% -10% -55% -65% -18% -40% 60% -70% 45% -100% -10% 30% 0% -70% 45% 15% -45% -35% -5% 5% -55% 25% -100% -80% 5% -55%

-60% -5% -90% 25% -55% 10% -90% -75% -50% 10% -85% -65% -65% 0% 15% -65% -35% -55% 20% 30% 65% -30% -75% -75% 0% -45% 90% -55% -90% 15% -55% 45% 10% -75% -65% 35% -75% -50% -80% -80% 55% -50% -90% -50% -5% -90% 65% 20% -80% -65% 45% -80% 55% -80% -85%

-45% 40% -65% 50% 30% 65% -55% -25% -45% 50% -45% 0% -50% -45% 50% -55% -5% 50% -10% 90% 75% -35% -55% -45% 70% 30% 65% -35% -75% 40% 15% 65% 80% -50% -15% 70% -15% -15% -23% -50% 80% 55% -50% -35% 40% -70% 65% 65% -50% 60% 0% -50% 55% -45% -60%

No No No Yes No No No No No No No No No No No No No No No No No No No No No No Yes No No No No No No No No Yes No No No No Yes No No No No No No No No No No No No No No

Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued

-80% -50% -55% -75% -10% -50% -75% -5% -45% 35% -55% -55% 45% -25% -50% -65% -28% -80% -15% -10% -60% -40% -50% -25% -90% -90% 35% -75% -30% -65% 20% 35% -70% -65% -5% -80% -25% -20% -20% -65% 15% -30% 30% -90% -35% -70% -35% -30% -75% 15% 5% -40% -25% -25% -50%

-75% 8% -50% 10% 40% -50% -65% -80% -10% 50% -65% -75% -60% 10% -20% -75% -20% -35% -40% -80% -80% -25% -80% -25% -70% -50% 50% -100% -5% -15% 10% 40% 55% -35% -45% -50% -75% 0% -75% -50% 93% -90% 45% -55% -50% -55% -50% -80% -90% 5% 5% 25% -45% 0% 0%

15% 55% 35% 90% 80% 30% -55% -65% 75% 65% -5% 10% -30% 35% 55% -55% 50% -45% -20% -85% -60% -40% -80% 30% -40% 45% 5% -90% 40% 60% 50% 70% 80% 35% 45% 30% -60% 55% 20% -35% 90% -60% 50% 23% 50% -50% 50% -60% -60% 30% 50% 65% -35% 65% 50%

No No No No No No No No No Yes No No No No No No No No No No No No No No No No Yes No No No Yes Yes No No No No No No No No Yes No Yes No No No No No No Yes Yes No No No No

Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued

-45% 0% -40% -80% -25% -95% -20% -75% -68% -80% -5% -75% -80% -35% -5% -95% -55% -85% 10% -95% -100% -55% -40% -60% -70% -100% -75% 45% 65% -10% -30% -100% 0% -100% -80% -75% -45% -60% 45% -55% -65% -25% -80% 0% -85% -5% -85% -80% 15% -40% -15% -30% -63% -80% 80%

-70% -45% -95% -50% -80% -60% -55% -75% 0% -100% 15% -90% -85% -45% -5% -70% 10% -60% 30% -100% -80% -95% 40% -65% -100% -90% -55% -35% 75% -10% -20% -90% -45% -90% -25% -35% -75% -40% -20% 23% -65% -80% -20% -90% -60% 40% 30% -100% -55% -70% -10% -75% -80% -80% 45%

65% -15% -35% 0% -25% 58% 30% -15% 50% -55% 40% -90% -45% -60% 55% -50% 80% -15% 40% -40% -60% -75% 65% -60% 20% -75% 5% 5% 65% 50% 25% -90% 20% -73% 50% -15% -35% 45% 65% 70% -50% -55% 50% -100% -20% 85% 65% -75% -45% -60% 55% -35% -45% -55% 80%

No No No No No No No No No No No No No No No No No No Yes No No No No No No No No No Yes No No No No No No No No No No No No No No No No No No No No No No No No No No

Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Overvalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued

-73% -100% -75% 90% 0% -70% -75% -80% -40% -55% -55% 60% -85% -65% 25% -10% -75% -55% 55% -90% -40% -80% -35% 0% -30% -40% -50% -83% -50% 70% 90% -65% -50% -60% -50% -80% -60% -85% 40% 35% -70% -80% 20% -70% 25% 25% -50% -75% -85% -30% -95% -33% -35% 35% -40%

-55% -90% -80% 30% -45% -85% -65% -100% -35% 25% -75% 63% -70% -65% -60% -15% -90% -80% 70% -70% 0% -75% -55% 75% 50% -75% -55% -5% -30% 35% -25% -90% 0% -15% -80% -75% -50% 10% -90% -35% -30% -90% 50% -50% -15% 85% -55% -65% -50% -65% -100% -75% -30% -30% 50%

50% -85% -30% 50% 30% -60% 40% -45% -35% 70% -15% 70% -50% 20% 30% 15% -60% -45% 88% 35% 50% -55% -35% 95% -15% -20% -40% -5% 45% -15% 0% -50% 55% 40% -20% -50% 50% 0% -90% 55% 40% -60% 55% 40% 30% 90% -45% -55% 35% -60% -90% 10% 30% -40% 65%

No No No No No No No No No No No Yes No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No Yes No No Yes No No No No No No No No No

Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued

-50% 0% -73% -95% -20% 60% 25% 55% 0% -70% -90% 30% 0% -75% -60% 15% 35% -60% -60% -80% -90% -15% -35% -80% -70% -80% -58% -35% -35% -55% -90% -70% 35% -5% -25% 55% 35% -5% 40% -40% -30% 10% -85% -50% -15% -93% -70% -95% -100% -80% -5% 0% 15% -100% -55%

65% -75% -60% 15% 0% -40% -30% -15% 60% -35% -55% -70% -65% -85% -65% -20% -25% -65% -95% -70% -80% -25% -10% -75% -45% -75% 30% -15% -55% -5% 10% -75% 0% -50% -10% 15% -80% -90% -55% -80% -65% 40% -75% -75% -80% 30% -60% -60% -60% -75% -40% 0% 25% -90% -45%

85% -25% -35% 20% 80% -30% 45% 30% 60% 45% 40% 5% -55% -60% 30% 40% 30% -60% -90% -40% -100% 65% -25% -55% 30% -15% 90% 80% -45% 38% 60% 20% -25% 0% 40% -35% -65% -100% 30% -55% -65% 45% -45% -35% -55% 20% 35% 30% -15% 30% 40% 0% -5% -45% -50%

No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No Yes No No No No No No No No No No No No No

Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued

-60% 50% -40% -70% -50% -70% -45% -90% -20% -5% 50% -75% -78% -65% -85% 5% 80% -55% -60% 75% -75% -20% -83% -8% -60% -25% -25% -30% -65% -50% -60% -65% -100% 5% -10% -75% -78% -53% 5% -100% -58% -50% -50% -50% -55% -85% 75% 15% -80% 80% -20% -50% -25% -55% -45%

-65% -65% -25% -90% -5% -50% -65% -15% -60% 10% -45% -15% -80% -25% -65% 70% 73% -100% -50% 35% 40% -40% -75% 10% -55% 15% 10% -75% 0% -75% -75% -30% -85% 45% -40% -35% -15% -65% -65% -65% -5% 50% -60% 25% -85% 15% 90% 10% -75% 25% -5% -50% -95% 75% -55%

-45% -80% 65% 35% 70% -50% -30% 50% -35% 60% 55% 50% -20% 45% -40% 85% 45% -35% 10% 75% 45% -45% -45% 40% -25% 40% 65% 25% 50% 20% 20% 30% -50% 90% 45% -40% 40% -5% -75% 45% 50% 65% 40% 65% -90% 40% 100% 50% -50% -25% 50% 48% -85% 75% 25%

No No No No No No No No No No No No No No No Yes No No No Yes No No No No No No No No No No No No No Yes No No No No No No No No No No No No Yes Yes No No No No No No No

Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Overvalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued

8% -20% -20% -55% -60% -45% 40% -90% -90% -70% 50% -80% 18% -55% 8% -65% -45% 40% -45% -10% -40% 80% -50% -65% -25% 15% -75% -55% 13% -70% 5% -40% 45% -55% -60% -90% -60% -75% 55% 55% -70% -75% -15% -85% -90% -70% 65% -75% -80% -55% 15% -85% -45% 75% 15%

-50% 30% -70% -45% 10% -90% -35% -60% -15% -25% 60% -30% 40% -5% -70% -80% -55% -35% -65% -60% -5% 90% 5% -100% -95% -25% -80% 10% 28% 0% 0% -80% 60% -60% -55% -75% -75% 45% 20% 10% -35% -90% 25% 5% -55% -90% 60% -75% -85% -70% 80% -40% -25% -50% -50%

30% 70% 55% 45% 45% -85% -75% 30% 45% 25% -20% -23% 80% 55% 30% -50% 5% 55% -15% -20% 50% 80% 50% 10% -85% 35% -15% 50% 60% 60% 50% -70% 65% 0% -10% -60% -45% -5% -5% 55% 40% -75% 65% 50% -60% -100% 40% -10% -40% 30% 75% 60% 58% -35% 25%

No No No No No No No No No No No No Yes No No No No No No No No No No No No No No No No No No No No No No No No No No Yes No No No No No No Yes No No No Yes No No No No

Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued Undervalued

25% -55% -75% 5% 25% -35% -70% -60% -80% 0%

-25% 55% -85% 45% -15% -70% -80% -25% -40% 45%

65% 55% -90% 40% 30% 0% -90% 50% 45% 75%

No No No Yes No No No No No No

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