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 Published Thursday evening 07 May for Friday 08 May. Note: In addition to this 13% rebound, we also recently recommended the share, triggered by the price action model. The subsequent rebound was 45%, rewarding clients who chose to participate in the trade. Previous Post (Monday 04 May 2026): Have You Looked

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 With today's massive gap higher, here's what the updated price action Model says: Previous Post (06 May 2025) S&P 500 Index: Early Signs of Short Term Overbought Conditions / 🟩 Ride Trend / 🟧 Manage Short-Term Risk STATUS OVERVIEW TECHNICAL CONDITION: 🟩 SYNCHRONIZED UPTREND CATEGORY: 🟩 BULLISH / TREND FOLLO

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 Warning given. Previous Post (Saturday, 02 May): 🛢️Trading Sasol: Key Levels You Need To Know + Bull-Bear Checklist + Momentum Trajectory DISTRIBUTION: Swing high resistance levels are ~R272 (medium term), ~R320 (long term). Trading around these levels would push the share into an extreme overbought range. RE-

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 BHP Group Ltd. continues to execute a powerful secular breakout into new all-time highs, but immediate tactical risks are escalating 🟥. While the Weekly and Monthly execution timeframes remain perfectly clustered in the highly energized "High Bullish Momentum" 🟧 tier, the Daily timeframe has now breached the

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 STATUS OVERVIEW TECHNICAL CONDITION: 🟩 SYNCHRONIZED UPTREND CATEGORY: 🟩 BULLISH / TREND FOLLOWING TREND STATUS Daily Trend: 🟧 High Bullish / Overbought Weekly Trend: 🟩 Strong Uptrend Monthly Trend: 🟩 Secular Strength Primary Action: 🟩 Ride Trend / 🟧 Manage Short-Term Risk CORE THESIS: Firing on All Cylin

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 🟩Clicks Currently Rebounding by 6%. The share traded into the buy range before rebounding. The move is also in line with the price action model. Previous Post (24 April) 🟩Clicks' Model Signal: Lower Levels Expected Before Tactical Rebound Bear in mind, the share is already down from above R410 to R275. After

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 Thank you for your interest in our research. Year-to-date, we have published over 750 research notes. These research insights help clients: (1) manage risks and (2) uncover opportunities, with the ultimate goal of helping to allocate capital to opportunities that offer the best reward-to-risk for a client's tim

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 (Friday, 27 February): Global Idea: Novo Nordisk - Early Buy Re-Entry Trigger; Lower Levels Expected Before Potential Rebound Buy at 238.60 or lower Stop-loss: 198.00 Target(s): 350.00 Code: NOVO_B 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 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, specifically by helping to determine the best potential times and levels to commit capital. The blue and red horizon

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: The commentary below was generated using an artificial intelligence tool, based on the analyst's own data. Spot Gold is currently navigating a protracted digestion phase within its broader secular uptrend. While the macro Mid Term momentum has successfully reset from historical extremes 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 Analyst: Disclosure: The commentary below was generated using an artificial intelligence tool, based on the analyst's own data. 1. The Massive Neutral Bottleneck (⬜ Neutral) Market breadth is severely paralyzed. Nearly 40% of the active JSE universe is currently trapped in the ⬜ Neutral tier. This massive bottl

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: The commentary below was generated using an artificial intelligence tool, based on the analyst's own data. 1. Maximum Extension and Exhaustion (🟥 At/approaching sell/reduce) The momentum algorithm is flagging severe parabolic exhaustion in highly concentrated pockets. GLN, SOL, GND, WVR, a

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 Summary: Chemicals and Coal Miners are the absolute standouts this week, staging dramatic upward surges compared to the last period. Chemicals erupted into an intense High Bullish state across all timeframes, while Coal Miners successfully broke out from a stagnant shorter-term base to establish a decisively St

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 (23 January) ☰ 'Continuation' Buy Idea From The Watchlist: Target +R235 This share is on my watchlist as a 'Continuation Buy Idea'. In the short term, the share is consolidating after an ultra short term burst of momentum. Over the long term, the share has underperformed the broader market. A tri

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 (04 August 2025): Global Idea: Generac Holdings; Backup power generation products for residential, light commercial and industrial markets Buy Range: $193-$196 Target: $230 Stop-Loss: $183 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 The share is not exceptionally weak, however, it is approaching a medium term level of interest. Here, it could overshoot to the downside before potentially rebounding. See the price action model below. It's alerting us to watch for improved price action. Note, if it trades lower, the model could produce a diff

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 A Stock Pick Driven By The Price Action Model ✓ The share traded only slightly lower (unfortunately not reaching the provisional buy re-entry) but has rebounded strongly in line with the Price Action Model (see 2 to 4 week time frame). We also recommended the share on 02 February (Anheuser-Busch Inbev listed in

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 Rainbow Chicken Limited is currently experiencing a severe tactical washout following a strong macro markup phase. While the macro Mid Term momentum is cooling off from its recent extreme highs on the Monthly chart, the Daily execution timeframe has plunged aggressively into deep exhaustion territory. This viol

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 Internal Rotation: Short Term vs Medium Term Lester Davids Senior Investment Analyst: Unum Capital