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 During January 2025, we recommended the Brazilian ETF (EWZ) which has since gone on to return over to 55%. Smaller companies in Brazil look to be setting up for potentially similar price acceleration. Buy at $14.43 or lower Stop-loss: $12.10 Target(s): $20.00 and $22.00 Code: EWZS Time Frame: Medium Te

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 (Previous Post 21 January 2026) 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

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 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 trigger via an igniting bar on the the weekly (or daily) chart would set the shar

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 Readings subject to change as the news flow and price action develops . 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 Readings subject to change as the news flow and price action develops . 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 Readings subject to change as the news flow and price action develops . 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 Readings subject to change as the news flow and price action develops . 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 Readings subject to change as the news flow and price action develops . 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 Readings subject to change as the news flow and price action develops . 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/Readings as of yesterday's (Thursday 22-Jan) close, based on the weekly time frame. Subject to change as the news flow and price action develops. 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 Since publishing the note in January of 2025, the shares have performed as follows: MTN Group +98% (R100,000 is now worth R198,000) Vodacom Group +45% (R100,000 is now worth R145,000) Telkom +86% (R100,000 is now worth R186,000) Well done to shareholders Previous Post (02 January 25): JSE Telecoms: Rel

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 (09 October) BUY IDEA: The ALPS Medical Breakthroughs ETF (SBIO) provides exposure to small- and mid-cap stocks of biotechnology companies that have one or more drugs in either Phase II or Phase III of the US Food and Drug Administration clinical trials. Constituents must have a market

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 +20% higher from our buy trigger, influenced by the Price Action Model (Tactical Trading Guide). Previous Post (04 November): Truworths: Lower Levels Expected, But Reward-to-Risk Becoming Attractive For A Buy Long Position We discussed the sector (clothing retailers) in September 2024, highlighting 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 Buy at current level of $134.63 or lower Stop-loss: $121.00 Target(s): $160.00 & 165.00 Code: XOP 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 share reached the buy range which was following by a base and strong rebound from R80 to R91.50. Medium term traders, to protect profits, raise your stop-loss. Short term traders, consider taking profits. Previous Post (03 November 2025): Trading TFG: Sellers in Control, But Approaching Range For

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 Thursday, 22 January 2026 Time: Pre-Market If you've been a consumer of our research but have not traded via the Unum Capital trading desk, why not consider making us your trading services provider? To open a trading account and/or move from your existing service provider, email lester@unum.co.za Premiu

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 share reached the buy range which was following by a base and strong rebound from R80 to R90. To protect profits, raise your stop-loss. Previous Post (03 November 2025): Trading TFG: Sellers in Control, But Approaching Range For Potential Countertrend Rebound Aggressive selling pressure, now deepl

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