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 Tuesday 24 February (post-market), for Wednesday, 25 February. Domestic Economic Indicators (SA Inc) 🏦 The SARB Easing Cycle is Underway: Banks moving into the Weakening quadrant while Consumer sectors move into Improving strongly signals an active interest rate cutting cycle. This com

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 Tuesday 24 February (post-market), for Wednesday, 25 February. 31 December 2025 24 February 2026 This multi-time frame analysis tracks shifting momentum profil

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 🛡️ The Base Case (50% Probability) - "Consolidates gains": The highest probability outcome is that the index digests this massive run. After a vertical thrust, markets typically need to build a base to allow fast-moving indicators to cool off. This scenario sees price churning sideways around curren

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 screeners reveal a market characterized by intense, yield-hungry defensiveness. Professional capital is completely ignoring traditional high-beta Tech and Growth, aggressively rotating into "safe haven" sectors, yield-bearing assets, and highly specific international pockets. While the momentum 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 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 Improving candle structure. Reclaiming MONTHLY swing low. NHI halt. Potential for gap fill 1350c. Major resistance at 1455c. Current level 1196c. Stop/temporary failure is a close below 1125c. Multi-month falling wedge structure. Monthly Chart Trading Notes/Resources (Where Applicable) READY TO TRADE:

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 share is higher by over 48% from our buy idea in June (triggered by the price action model). (Was below R420, now R614). Most recently on 02 December, we re-iterated the share as a recovery idea (was R470 now R614) Trading BHP Group: Strong Trend; Use Rally To Reduce Medium Term Positions (Currentl

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 Price path followed with strong upside follow-through R400 to R439 Previous Post (19 November): Bid Corp: Early Buy Trigger (Lower Time Frame); Lower Levels Expected Before Potential Rebound 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 Global Idea: ING Groep Previous Post (08 March 2025): Global Ideas: ING Groep Re-emerging strength following a multi-month base. (Euronext Amsterdam) Previous Post: European Financials: Attractive Valuations + Improving Technical Structure In September of last year (2024), I discussed European equitie

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 Sunday 22-February for Monday Monday 23 February. Previous Post (19 February) Short Term Traders Take Profit: Silver Running 7% Over Two Days Previous Post (17 February):🎥Video: Trading Silver (Short Term) Trading Notes/Resources (Where Applicable) READY TO TRADE: ACTIONABLE AREAS: For 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 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. 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 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

Trade Global Shares & ETFs with Unum Capital. To get started, email lester@unum.co.za Around 14 months ago (20 November 2023), I...

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