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 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 ⚠️ CONTRARIAN FACTORS AND RISK SIGNALS For traders looking to fade the crowd or hunt for reversals (Mean Reversion Hunter): Deep Value Watchlist (Potential Buy?): Paper & Pulp 🌲 remains long-term "Oversold" 💎. The bleeding has stopped in the short term (Neutral), which is often the first sign of 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 OVERVIEW The South African equity market is currently undergoing a violent sector rotation. The "safe" defensive plays of 2025 have collapsed, while cyclical value stocks and financials have roared back to life. This report breaks down the relative strength of 14 key JSE sectors against the Top 40 ind

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: Sunday, 08 February 2026 Three primary macroeconomic narratives are driving this specific rotation on the JSE: The "Flight to Stability" & Yield: In an uncertain global environment, investors are risk-averse. They are flocking to Banks 🛡️ because South African banks are well-capitalized,

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: Sunday, 08 February 2026 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: Sunday, 08 February 2026 JSE Precious Metals Index 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: Sunday, 08 February 2026 JSE Life Insurance Index JSE Non-Life Insurance Index 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 JSE Banks Index 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 The move ties into the Value over Growth theme that has shaped much of the price action so far this year. 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 February 2026 > https://www.unum.capital/post/rfeb2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Date & Time Published: Friday, 06 February at 15h42 Silver traded into our buy re-entry range before rebounding +18%. Short term traders, take profit! Previous Post (Monday, 02 February) Actionable Trading Levels: Spot Silver Trading Notes/Resources (Where Applicable) READY TO TRADE: ACTIONABLE AREAS:

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 Closing Price: 15,191c (ZAR) 1D Change: +0.90% (Trend Continuation) Multi-Frame Action: 🟢 Bullish (D) 🟢 Parabolic (W) 🟢 Recovery (M) Technical Upside: Trend Extension. The stock is breaking out of a multi-year recovery base. Target: 16,000c – 16,500c. Psychological Resistance / Previous Cycl

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: Pre-Market, Friday, 05 February 2026. The data is based on the DAILY TIME FRAME and is subject to change based on the subsequent news flow and price action. Note: This analysis may differ from the analysis which is based on the Weekly and Monthly time frames. Trading Notes/Resources (Wher

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: Pre-Market, Friday, 06 February 2026. The data is based on the DAILY TIME FRAME and is subject to change based on the subsequent news flow and price action. Note: This analysis may differ from the analysis which is based on the Weekly and Monthly time frames. AngloGold Ashanti (ANG) Curre

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: Pre-Market, Friday, 06 February 2026. The data is based on the DAILY TIME FRAME and is subject to change based on the subsequent news flow and price action. Note: This analysis may differ from the analysis which is based on the Weekly and Monthly time frames. 1. Impala Platinum (IMP) Curr

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: Pre-Market, Friday, 06 February 2026. The data is based on the DAILY TIME FRAME and is subject to change based on the subsequent news flow and price action. Note: This analysis may differ from the analysis which is based on the Weekly and Monthly time frames. Banks are King, For Now: 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 Yesterday, Kumba Iron Ore (KIO) reached our target of R386-R396. The share has gradually trended higher from out 18 June buy trigger at R274. Well done to clients who have been involved. Trading Notes/Resources (Where Applicable) READY TO TRADE: ACTIONABLE AREAS: For active traders who look to genera

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 (Monday 02 February): Take Profit: +10% Rebound From Buy Re-Entry Range (Ultra Short Term Traders) Previous Post (Sunday, 01 February 2026) Actionable Trading Levels: AngloGold Ashanti Trading Notes/Resources (Where Applicable) READY TO TRADE: ACTIONABLE AREAS: For active traders who loo

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 Date & Time Published: Thursday, 05 February at 08h58 Silver traded into our sell re-entry range before selling off 12%. Short term traders, take profit! Previous Post (Monday, 02 February) Actionable Trading Levels: Spot Silver Trading Notes/Resources (Where Applicable) READY TO TRADE: ACTIONABLE AREA