Research Notes March 2026 > https://www.unum.capital/post/rmar2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za PREMIUM CONTENT Published Wednesday, 18 March (After Market Close), for Thursday, 19 March. Thirteen months ago, (February 2025), our research triggered a triple buy reading at R79. Today (Wednesday 18 March), the share reached a high of R212. This note considers the medium to long term technical outlook

Research Notes March 2026 > https://www.unum.capital/post/rmar2026 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

Research Notes March 2026 > https://www.unum.capital/post/rmar2026 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 March 2026 > https://www.unum.capital/post/rmar2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Short term traders could consider reducing into strength. Well done to traders who managed to capitalize on the bullish reversal. Previous Post (19 February): Naspers: Early Base Building Analyst Disclosure: This note was generated using Google's Artificial Intelligence Tool, Gemini. NPN Weekly Previous

Research Notes March 2026 > https://www.unum.capital/post/rmar2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Data as of end of day, Tuesday 17 March. The readings are subject to change as the news flow and price action develops. Lester Davids Senior Investment Analyst: Unum Capital

Research Notes March 2026 > https://www.unum.capital/post/rmar2026 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 March 2026 > https://www.unum.capital/post/rmar2026 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 March 2026 > https://www.unum.capital/post/rmar2026 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 March 2026 > https://www.unum.capital/post/rmar2026 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 March 2026 > https://www.unum.capital/post/rmar2026 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 March 2026 > https://www.unum.capital/post/rmar2026 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 March 2026 > https://www.unum.capital/post/rmar2026 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 March 2026 > https://www.unum.capital/post/rmar2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Current Price Action & Moving Averages Spot Gold is currently trading at 5,014.99 , showing a near-term correction following a significant peak and subsequent lower highs. Short-Term MAs (Momentum Shift): Price has recently broken below the tightest cluster of fast moving averages. This indicates a loss

Research Notes March 2026 > https://www.unum.capital/post/rmar2026 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 ne

Research Notes March 2026 > https://www.unum.capital/post/rmar2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Previous Post (Sunday 15 March): War Trades: Coal Exposure Middle East conflict escalations have triggered a violent repricing in the global energy complex. On the back of this, coal has surged. Our coal exposure has been via Thungela Resources where the share recently reached our extension target of R14

Research Notes March 2026 > https://www.unum.capital/post/rmar2026 Trade Local & Global Financial Markets with Unum Capital. The dashboard is intended exclusively for ACTIVE trading clients (trades placed through the Unum Capital Trading Desk within the last 10 trading sessions ). To activate a trading relationship, please contact lester@unum.co.za . Lester Davids Senior Investment Analyst: Unum Capital

Research Notes March 2026 > https://www.unum.capital/post/rmar2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za At the time, 4 out of the 5 shares we rated as approaching sell/reduce. We have since seen the index reverse sharply. Previous Post (27 February): JSE Banks: Momentum Dashboard 🟢🟡🔴 Click on the images to enlarge. Lester Davids Senior Investment Analyst: Unum Capital

Research Notes March 2026 > https://www.unum.capital/post/rmar2026 Trade Local & Global Financial Markets with Unum Capital. Published: Monday, 16 March at 10h15 The 8-page momentum report is intended exclusively for ACTIVE trading clients (trades placed through the Unum Capital Trading Desk within the last 10 trading sessions ). To activate a trading relationship, please contact lester@unum.co.za . Lester Davids Senior Investment Analyst: Unum Capital Earlier this morning,

Research Notes March 2026 > https://www.unum.capital/post/rmar2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za THE TACTICAL TRADING GUIDE (PRICE ACTION MODEL) IS A KEY COMPONENT IN OUR TOOL-KIT FOR UNCOVERING OPPORTUNITIES & ASSESS REWARD-TO-RISK. Spot Gold is consolidating sideways near record highs with weakening short-term momentum, setting up a potential short trade targeting the 8-MONTH EMA (MONTHLY TIME FRAM

Research Notes March 2026 > https://www.unum.capital/post/rmar2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Middle East conflict escalations have triggered a violent repricing in the global energy complex. On the back of this, coal has surged. Our coal exposure has been via Thungela Resources where the share recently reached our extension target of R140. Last week the share reached multi-year high of R172.43.