Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Full version available to ACTIVE trading clients. Lester Davids Senior Investment Analyst: Unum Capital

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Naspers Ltd (NPN) - the share is in a downward trend, trading below it's short term (8, 21-75-EMA and 200-day SMA) as well as below it's medium term (8, 21 and 50-week EMA's). Note: the price is approaching the rising 200-week SMA which is likely to entice ultra long term buyers, should the price action show si

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za JSE Equally-Weighted Top 40 Index - except for the brief print in late February, the index has struggled to clear the ~48,200 level. Over the 8 weeks, the index has been trading in a consolidation phase, with the potential development of a bear flag formation. Unless the aforementioned resistance level is breac

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Analyst Disclosure: This report has been generated using an artificial intelligence tool, based on the analyst's own data. Lester Davids Senior Investment Analyst: Unum Capital

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Prices are delayed by 15 minutes. Lester Davids Senior Investment Analyst: Unum Capital

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za For years, our research has given clients some of the best opportunities, both locally and globally. In terms of ETFs and related themes, we have been at the forefront of some of the biggest moves, for example, we have given you (for free): Copper Metals & Mining Uranium Silver Gold Artificial Intelligence Powe

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Current Phase: Corrective Pullback in Macro Uptrend Action Bias: 🟢 Buy on pullback Price: 18,718.00 ZAC Status: -0.60% Active Thesis Summary REM has been in a sustained macro uptrend since mid-2024, recently peaking above the 20,000 ZAC psychological level. The current price action indicates a natural, corr

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Previous Post (09 July 2025) (Link > https://www.unum.capital/post/hgtari ) Tariffs On Copper Ignites Further Rally; Key Drivers Support Move To Long Term Target of 6.60 Previous Post (01 July): Copper Futures: Bull Flag Sees Upside Follow-Through; Trades At Multi-Month High of $5.18. The bull flag discussed on

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za In less than 2 years, the share has appreciated by 136%. Previous Post: 10 July 2024 ARK Autonomous Tech. & Robotics ETF (ARKQ) Fund Objective: ARKQ is an actively managed Exchange Traded Fund (ETF) that seeks long-term growth of capital by investing under normal circumstances primarily (at least 80% of its ass

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za On Sunday 15 February, we highlighted the opportunity in Standard Bank, to short/sell on a spike toward a specific range. Yesterday the share reached the range, TRADED EXACTLY INTO THE UPPER BOUNDARY and has since declined by between 3800c excluding the recent dividend (870c). The original note, with specific l

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Previous Post (16 September 2025): Global Idea: Invesco Dorsey Wright Industrials Momentum ETF ETF Code: PRN Buy $167.80 - 170.00 Stop-loss: 154.00 Target: $200.00 Lester Davids Senior Investment Analyst: Unum Capital

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Previous Post (07 October): Buy Idea: Intuitive Machines (Small Cap/Speculative) Intuitive Machines, Inc. is an American space exploration company. Code: LUNR Last: $11.98 Pre-Market $12.05 Stop-loss: $8.40 Target: $18.00 Lester Davids Senior Investment Analyst: Unum Capital

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Are you garnering insights from our research but executing your trades at one of our competitors? Switch to Unum Capital today. BHP Group from 41800c to 71400c. Now, see the price action model reading. READY TO TRADE: ACTIONABLE AREAS For active traders who look to generate cash flow on a continuous basis, dete

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Are you garnering insights from our research but executing your trades elsewhere? Switch to Unum Capital today. Foschini relative to the JSE All Share Index. For now, both the sector & stock remain under serious pressure. A data point from a mean reversion perspective (relative distance chart). TFG is trading 6

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za 🟩 Structural Resumption 🟩 Tactical Strength ⬆️ Buy on pullback 🟩 The JSE Top 40 Index has successfully resolved its immediate "stranded" neutral state, with tactical momentum hooking back into the Strong tier following a brief digestion of the 111,000c resistance cluster. Applying the tightened momentum para

Research Notes May 2026 > https://www.unum.capital/post/rmay2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Previous Post (18 January): Global Idea: Defiance A.I & Power Infrastructure ETF Buy at $24.62 or lower Stop-loss: $21.10 Target(s): $30.00 ETF Code: AIPO The Defiance AI & Power Infrastructure ETF (AIPO) empowers investors with exposure to the intersection of artificial intelligence and critical power infrast