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 21 June 2025: Trading BHP Group: Contrarian Opportunity? High Bearish Momentum + Approaching Oversold 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 Previous Post (29 July 2025): Global Idea: Invesco AI & Next Gen Software ETF (IGPT); Re-Accelerating Momentum + Base Breakout. Consolidation Expected However Path Likely Higher Over Medium Term. 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 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 Analyst's Price Action Model Regime:  High Bullish Momentum / Overbought Watch Primary Outlook:  At or approaching sell/reduce Executive Summary The JSE Top 40 Index is currently in a "Very Strong Move" with buyers clearly in control of the immediate price action. However, the model issues a unified war

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 July 2025): Dow Jones Industrial Average: Strong Close via Weekly; Same Level Vs 8 Months Ago; Measured Move = 54,000 Points 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 Technical Take: Valterra Platinum (VAL) Regime:  Very Bullish / Overbought Primary Outlook:  At or approaching sell/reduce Executive Summary Valterra is exhibiting extreme bullish momentum, mirroring the setup seen in Anglo American. The stock is in a "Very Strong Move" with buyers firmly in control acr

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 +1300c higher, with room to advance. Add at current at levels (or lower) or buy on pullback. Target = 14500c to 15000c Stop-loss: daily close below 11000c See previous video comment (scroll further down) Previous Post (09 September 2025): 🎥Video: Discussing Motus Holdings Lester Davids Senior

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 Massive upside follow-through from the base breakout! Previous Post (07 February) Rally from a re-test after breaking out of a multi-year base. 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 Previous Post (05 September): Copper Miners ETF Now Running +23%. Here are 2 Stocks Setting Up Freeport McMoran (FCX) - Listed on NYSE (Chart as of 10:34am, Thursday 04 Sept) Southern Copper Co. (SCCO) - Listed on NYSE (Chart as of 10:37am, Thursday 04 Sept) Previous Post (28 May): Diversified Exposure

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 (20 July): Tharisa Plc: High Bullish Momentum With Potential To Break Above Multi-Year Range Highs (2335c) On Double Bottom Structure Last close: 2239c Stop-loss: weekly close below 1920c Medium Term Target: 2750c 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 Running +10% from our (video) commentary on 19 October in which we considered the relative distance and medium term value. Previous Post (19 October): Bidvest: Relative Distance vs JSE Top 40 Index (Medium Term Value) 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 Anglo American Plc: Running +34% + Current Price Action Model Currently higher by 34% from our video on 26 August in which we discussed the R527 level as a trigger. Now trading in a short term 'Overbought' regime. Analyst's Price Action Model (Max = 5 to 8 week view) Regime:  Very Bullish / Ove

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 Further Update: 29 January - Running +77% The share is also higher by +43.6% since our original note on 07 August 2025 in which the price action model (tactical trading guide) looked for a counter-trend rebound. Well done to clients who took the opportunity to trade. The updated/current chart, with refe

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 Was +R19.50, now R16.31 See original note (further below) for the Price Action Model reading at the time. Closing Price : 16.3195 1D Change : -0.23% Multi-Time Frame Action : 🔴 Capitulation (D) 🔴 Breakdown (W) 🔴 Bearish Reversal (M) Technical Upside : Oversold Bounce to 16.70. Target: 16.00 (Downside

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 ETF: 1nvestRhodium Code: ETFRHO High of 153,250 Close: 148,000 Previous Post (18 July): Rhodium ETF: Early Stages of Accelerating Price Momentum / Cup & Handle In Development 1NVESTRHODIUM ETF - Triggers above 106,100 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 Closing Price : 6,910.96 1D Change : +0.19% Multi-Time Frame Action : 🟢 Impulse (D) 🟢 Bullish (4H) 🟢 Extreme (2H) Technical Upside : Blue Sky. Psychological Target: 7,000. Trend Extension. Momentum Signal : Parabolic Intraday (2H RSI ~ 90) Risk / Invalidation Level : Close below 6,830 Valuation : Gro

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 Date/Time: 06 January 2025 / 07h18 Closing Price : $78.79 Intraday Change : -0.05% Multi-Time Frame Action : 🟢 Buy Continuation (2H) 🟢 Buy Continuation (4H) 🟢 Buy Continuation (8H) 🟢 At or approaching buy/add (12H) Technical Upside : Resistance at 79.11 (Session High). Target: 80.00. Blue Sky Expans

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 This note analyzes Harmony Gold (HMY), listed in New York. Date/Time: 06 January 2025 / 07h04 Closing Price : $20.28 1D Change : +3.63% Multi-Time Frame Action : 🟢 Bullish Rotation (D) 🟡 Consolidation (W) 🟢 Secular Breakout (M) Technical Upside : Resistance at $21.00. Target: $23.00 (~13%). Catch-up

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 Date/Time: 06 January 2025 / 06h51 Closing Price : $4,466 Intraday Change (2H) : -0.08% Multi-Time Frame Action : 🟢 Buy continuation (2H) 🟢 Buy continuation (4H) 🟢 Buy continuation (8H) 🟢 At or approaching buy/add (12H) Technical Upside : Resistance at 4,475. Target: 4,500. Channel Extension. Momen

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 1. Executive Summary Key Takeaway: Miners & Telecoms Lead 🟢; Consumer Cyclicals Remain Oversold 🔴 The first trading week of 2026 presents a distinct divergence on the JSE. The General Miners  sector has exploded into "High Bullish Momentum," joining Platinum  and Coal  to cement Resources as the domin