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1. Investments in securities markets are subject to market risks. Please read all related documents carefully before investing.
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13. Reports based on technical and derivative analysis focus on studying charts of a stock's price movement, outstanding positions, and trading volume, as opposed to focusing on a company's fundamentals. As such, they may not match with a report on a company's fundamentals.

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The firm, its affiliates, and employees may, from time to time, make investments. The views contained on the website, in research reports, and advisory services are those of the analyst, and the subject company may or may not subscribe to all the views expressed within. Research based on technical and derivative analysis focuses on studying charts of a stock's price movement, outstanding positions, and trading volume, as opposed to focusing on a company’s fundamentals. As such, it may not align with a report on a company’s fundamentals. The research published on the website or in research reports has been based on publicly available information, internal data, and other reliable sources believed to be true. However, we do not represent that it is accurate or complete, and it should not be relied upon as such, as it is for general guidance only. The firm endeavors to update the information discussed in this material on a reasonable basis, though there may be regulatory, compliance, or other reasons that prevent us from doing so.