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 There's a new setup developing on AVI. The share exceeded our R102 target in September, closing at 11043c on Thursday (08-January). Momentum is starting to accelerate with potential to clear the R120 resistance level over the medium term and target the R150 level over the long term. The stop is a weekly

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 Compared to our last report, this past Monday (05-January), these are the sector regime and momentum changes on a relative basis (compared to the JSE Top 40 Index), as of yesterday's close (Thursday 08 January). 1. Executive Summary: The Verdict The Great Rotation: Resources Cool, Financials Awake A si

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 Compared to our last report, this past Monday (05-January), these are the sector regime and momentum changes on a relative basis (compared to the JSE Top 40 Index), as of yesterday's close (Thursday 08 January). Banks:  🟢 Major Breakout.  The most improved sector. Shifted from complete dormancy to a "D

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 🎥Video: Watch R259 to R263 as a Potential Buy Re-Entry Range 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.  

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 SANLAM LIMITED (SLM) Primary Category : Overbought / Vertical Discovery  🔴 Expected Path : Tactical Reset toward 9,600c Base  ⚪ Strategic Overlay : Avoid Chasing / Accumulate on Structural Dips  🟡 Highlights: Sanlam Limited (Multi-Time Frame View) Fractal Momentum Surge : A powerful "Momentum Trinity"

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 Date: 08 January 2025 Time: 10h26 SPOT SILVER (XAGUSD) Primary Category : Parabolic Breakout / Discovery Phase  🔵 Expected Path : Mean Reversion toward $70.00 Base  ⚪ Strategic Overlay : Avoid Chasing / Accumulate on Structural Pullbacks  🟡 Highlights: (Multi-Time Frame View) Fractal Momentum Surge :

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 Woolworths Holdings (WHL) Date: 08 January 2026 Time: 10h09 Key Takeaways: Primary Category : Bullish Breakout / Recovery Phase  🔵 Expected Path : Continuation toward 6,200c Pivot  ⚪ Strategic Overlay : Accumulate on Dips / Trend Follow  🟡 Highlights: (Multi-Time Frame View) Fractal Momentum Surge : A

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 Date: 07 January 2026 Time: End of Day Closing Price : 33,676c 1D Change : -3.07% Trend Action : 🟡 Consolidation / Tactical Reset (Daily) Technical Upside : Resistance at 36,000c. Target: 38,000c. Trend Resumption. Momentum Signal : Neutral Reset (Fast Indicators at Midline) Risk / Invalidation Level :

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 Date: 07 January 2026 Time: 22h05 Price : 6,409c 1D Change : -0.97% Trend Action : 🟢 Buy Continuation (Daily) Technical Upside : Resistance at 6,600c. Target: 7,000c. Lagging Play. Momentum Signal : Strong Alignment (All RSIs > 60) Risk / Invalidation Level : Close below 6,000c Valuation Basket : Reco

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 This note analyzes Harmony Gold (HMY), listed in New York. Date: 07 January 2026 Time: 21h58 Closing Price : $20.67 1D Change : -3.25% Trend Action : 🟡 Consolidation / Tactical Reset (Daily) Technical Upside : Resistance at $21.50. Target: $23.00. Momentum Signal : Volatility Compression (All RSIs conv

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 Date: Wed, 07 January 2026 Time: 21h54 (S/Africa) Closing Price : 4,454 1D Change : -0.98% Multi-Time Frame Action : 🟡 Consolidation / Reset (3 Days) 🟢 Buy Continuation (5 Days) 🟢 Buy Continuation (10 Days) Technical Upside : Resistance at 4,500. Target: 4,550. Bull Flag Formation. Momentum Signal :

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 i Shares MSCI Global Metals & Mining Producers (Code: PICK) ________________________________________________________________________________ Previous Post (03 September) ETF Buy Idea: iShares MSCI Global Metals & Mining Producers (Code: PICK) Buy between $41.00 and $41.50 Stop-loss: $35.20 Target: $54.0

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 Charts don't provide answers but they help us ask better questions. The chart below is a monthly of the relative performance of the Paper & Pulp (MNP, SAP) sector relative to the JSE Top 40 Index. If the stocks were to stop underperforming the index, would this not be be a logical place to start? Extrem

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 Analyst's Price Action Model Technical Take: Outsurance (OUT, 6828c) Date:  Wednesday, January 7, 2026 Regime:  Oversold / Capitulation Watch Primary Outlook:  At or approaching buy/add Executive Summary Outsurance is currently experiencing a "Very Bearish" phase characterized by aggressive selling. How

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 21 June 2025: Trading BHP Group: Contrarian Opportunity? High Bearish Momentum + Approaching Oversold 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 Previous Post (29 July 2025): Global Idea: Invesco AI & Next Gen Software ETF (IGPT); Re-Accelerating Momentum + Base Breakout. Consolidation Expected However Path Likely Higher Over Medium Term. 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 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 Analyst's Price Action Model Regime:  High Bullish Momentum / Overbought Watch Primary Outlook:  At or approaching sell/reduce Executive Summary The JSE Top 40 Index is currently in a "Very Strong Move" with buyers clearly in control of the immediate price action. However, the model issues a unified war

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 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 January 2026 > https://www.unum.capital/post/rjan2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Technical Take: Valterra Platinum (VAL) Regime:  Very Bullish / Overbought Primary Outlook:  At or approaching sell/reduce Executive Summary Valterra is exhibiting extreme bullish momentum, mirroring the setup seen in Anglo American. The stock is in a "Very Strong Move" with buyers firmly in control acr