Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Significant sell-off since our flash note on 06 November where the extremely overbought ultra short term conditions were highlighted. Regime:  Oversold / Aggressive Selling Primary Outlook:  At or approaching buy/add Executive Summary Naspers has deteriorated significantly from its status earlier in the

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Risk #1 (Short Term): Dark cloud cover via it's daily chart. Risk #2: Running into channel resistance via the monthly chart. Risk #3: Extended vs it's 200-week moving average (+217%). The greatest extension in over 20 years. Trading Notes/Resources (Where Applicable) READY TO TRADE: ACTIONABLE AREAS:  F

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za African Rainbow Minerals is close R100 higher from our February 2025 note at 13390c and is also approaching our long term target of R240, with a high of +22800c today. Get ready to take profit. Alternatively, scale out (i.e. sell a portion of the position as approaches the R240 level. Previous Post (14

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Buy at $30.37 or lower Stop-loss: $26.90 Target(s): $38.00 and 42.00 Code: ZAP Lester Davids Senior Investment Analyst: Unum Capital

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Currently Running +39% from our note on 11 August 2025. See original note further below. The chart immediately below is 'current'. Previous Post (11 August 2025): Jubilee Metals Group: 3 Charts Worth Noting + Placing It On Your Watchlist (A High Risk Share) Chart Number 1: Approaching a multi-year dema

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Previous Post (27 October)🎥Video: Harmony Gold -Actionable Areas (Short Term Traders) Lester Davids Senior Investment Analyst: Unum Capital

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Data based on the weekly chart and is subject to change. Click on image to enlarge Sector: Consumer Discretionary Industry: Retailers Retail offers a high-reward "Capitulation" opportunity as several names hit statistical surrender points. Despite a weak macro backdrop, the potential for a violent boun

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Data based on the weekly chart and is subject to change. Click on image to enlarge Sector: Financials Industry: Banking This industry currently offers an optimal R:R in the "Weakening" phase, as leaders pull back to structural support. Buying these micro-washes provides a clear floor for stop-losses, t

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Data based on the weekly chart and is subject to change. Click on image to enlarge Sector: Basic Materials Industry: Chemicals The reward-to-risk remains neutral to slightly positive; price and momentum are moving in lockstep, making this a sector for "Stable Momentum" plays. Risk is mitigated by enter

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Summary The JSE is currently defined by a massive divergence between Precious Metals  (Gold and Platinum) and almost everything else. While the broader market ("SA Inc" sectors like Banks, Retailers, Insurers) remains trapped in neutral or bearish trends, the resource sector—specifically precious metals

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Year-to-Date: Sector Momentum Changes Gold Miners:  🟢 Explosion.  The biggest winner. Short Term shifted from "Weak" to "Overbought." Panic buying is evident. Hospitals:  🟢 Defensive Pivot.  The only non-resource sector to improve. Short Term momentum hit "Strong," marking it as the new defensive favo

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Previous Post (29 September 2025) Buy Idea: Lockheed Martin Code: LMT Buy: 497.00 Stop-loss: 458.00 Target: $585.00 Lester Davids Senior Investment Analyst: Unum Capital

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za The rebound is in line with the price action model (long term, 5 to 8 weeks) which called for traders to prepare for a potential rebound. The US10Y is current close to 30 basis points higher vs the original note. This move has potentially negative implications for equities and other risk assets. Previou

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za High bullish momentum with some risk in the form of distance divergence where the price develops a HIGHER HIGH, while the indicator develops a LOWER HIGH. Upper Panel = Price Lower Panel = Distance vs 200-Day Simple Moving Average Medium Term Traders = Reduce See our note on the 4 Platinum Miners earlie

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za South 32 rallied by 55% from our note on 21 September 2025. Now trading in a overbought range with an inverted pin bar formation as well as around the previously highlighted sell re-entry range. Let's see how it behaves around these levels. Caution: this is NOT a level for new buys/longs. Previous Post

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Tuesday, 20 January 2026 Time: Pre-Market Trading Notes/Resources (Where Applicable) READY TO TRADE: ACTIONABLE AREAS:  For active traders who look to generate cash flow on a continuous basis, determining the ‘next best probability’ level to execute against may be of immense value.   The blue and red  h

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Monday, 19 January 2026 Time: 20h43 Previous Post (10 June 2025) Money Flow at multi-month highs. Here's a breakdown of the current price action: The 7-day trend  is indicated as "High Bullish Momentum / Approaching Overbought," while the 14-day trend  is "Very Bullish." Comparison: Both the short-term

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Previous Post (13 July): Buy/long idea. False breakdown i.e. a scoop n score play via the weekly chart. Retaining it's position above 80.00 is key. Stop-loss: 74.00 Target: 105.00 Lester Davids Senior Investment Analyst: Unum Capital

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Trading Notes/Resources (Where Applicable) READY TO TRADE: ACTIONABLE AREAS:  For active traders who look to generate cash flow on a continuous basis, determining the ‘next best probability’ level to execute against may be of immense value.   The blue and red  horizontal lines on the chart  represent a

Research Notes January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Daily Time Frame = Overheated Monthly Time Frame = As highlighted on 28 December, just about starting to enter the overbought range (but not extreme). Previous Post (28 December 2025) Monthly Time Frame: Room to run? Trend remain up. Sentiment not yet at extreme levels. See blue shaded area similar to