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

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 $30.37 or lower Stop-loss: $26.90 Target(s): $38.00 and 42.00 Code: ZAP 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 Currently Running +39% from our note on 11 August 2025. See original note further below. The chart immediately below is 'current'. Previous Post (11 August 2025): Jubilee Metals Group: 3 Charts Worth Noting + Placing It On Your Watchlist (A High Risk Share) Chart Number 1: Approaching a multi-year dema

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 (27 October)🎥Video: Harmony Gold -Actionable Areas (Short Term Traders) 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 based on the weekly chart and is subject to change. Click on image to enlarge Sector: Consumer Discretionary Industry: Retailers Retail offers a high-reward "Capitulation" opportunity as several names hit statistical surrender points. Despite a weak macro backdrop, the potential for a violent boun