Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Published on Sunday 22-Feb for Monday 23-Feb Previous Post (06 January 2026): JSE Industrial Share: Recovering & Running +10% (Hold) 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

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Published on Sunday 22 February for Monday 23 February. Near Term Spike Into Medium Term Overbought Conditions Could Create Short/Sell Opportunity Analyst's Price Action Model ABG Daily Chart Trading Notes/Resources (Where Applicable) READY TO TRADE: ACTIONABLE AREAS: For active traders who look to ge

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za After two failed attempts, the sector (on a relative basis vs the JSE All Share Index) is attempting to position itself above it's 200-day SMA. This represents an attempt to outperform the broader market. Note that the ratio trades well below it's 200-week which would serve as a long term target. Trad

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Published on Sunday 22 February for Monday 23 February. Analyzing the market breadth exclusively through the lens of the Mid Term Structural Trend reveals a broader reward-to-risk profile that is becoming increasingly defensive for new long exposures. With well over half the market densely concentrate

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Published on Sunday 22 February for Monday 23 February. Momentum Data based on the WEEKLY time frame. This data is subject to change as the news flow and price action develops. Lester Davids Senior Investment Analyst: Unum Capital

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Published on Sunday 22 February for Monday 23 February. Lester Davids Senior Investment Analyst: Unum Capital

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Published on Sunday 22 February for Monday 23 February. Momentum Data based on the WEEKLY time frame. This data is subject to change as the news flow and price action develops. Lester Davids Senior Investment Analyst: Unum Capital

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 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

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 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

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Monthly Chart trading at upper boundary of multi--year channel. In addition, the 7-month RSI is the most overbought in 19 years. Fundamental valuations remain relatively attractive however caution to new longs i.e. there are better entries at lower levels. Trading Notes/Resources (Where Applicable) REA

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 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 February 2026 > https://www.unum.capital/post/rfeb2026 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 February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Previous Post (22 January): Global Idea: State Street Oil & Gas Exploration & Production ETF (XOP) 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 February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NPN Weekly Previous Post (11 February): Deeply Oversold: Early Buy Trigger + Lower Levels Expected Before Potential Rebound Deeply Oversold...Naspers Ltd (NPN) Trading Notes/Resources (Where Applicable) READY TO TRADE: ACTIONABLE AREAS: For active traders who look to generate cash flow on a continuou

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Previous Post (17 February):🎥Video: Trading Silver (Short Term) 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 valu

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Sasol Ltd (SOL) Previous Post (05 December 2025): Strategy Alert: Sasol This note is being published pre-market (Friday, 05 December) therefore there is no price action to provide confirmation. We do however, want to remain mindful of the potential for a 'PIERCING LINE (BULLISH REVERSAL)' TECHNICAL FOR

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 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

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Published on 18 February (post-market), for 19-February 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

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Published on 18 February (post-market), for 19-February Lester Davids Senior Investment Analyst: Unum Capital

Research Notes February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za SBK Video Reference Previous Post (15 October 2025): 🎥Video: Breaking Out; Target 2800c Premium Research Content. To access the ticker, email lester@unum.co.za Thank you for your interest in our research. While the vast majority of our +1500 notes published year-to-date are complimentary, this premium