Thank you for your interest in our research. Our aim is to convey insights that help clients: (1) Manage Risks and (2) Uncover Opportunities. Year-to-date we have published over 1800 research notes that helps clients do just that. 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 tradingde

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tr adingdesk@unum.co.za Previous Post: 🎥Video: Profiting with Northam Platinum Previous Post (Wednesday, 19 November)🎥Watch: Trading Northam Platinum Previous Post (18 November)🎥Watch: Price Action Models Valterra Platinum & Northam Platinum Lester Davids Senior Investment Analyst: Unum Capital

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za PREVIOUS POST (TUESDAY, 25 NOVEMBER): Strategy Alert: Mr. Price Group Trading Notes (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 November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tr adingdesk@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 November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tr adingdesk@unum.co.za MONTHLY TIME FRAME: The index is in a historic uptrend but is flashing warning signs of acute overheating. Historic Momentum Extremes: The market has reached a statistical ceiling. The Ultra Short Term and Short Term momentum indicators are effectively "pinned" at their absolute maximums. This repre

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tr adingdesk@unum.co.za In recent weeks, the share has given us opportunities on both the LONG and SHORT Side. LONG TERM IDEA: +40% Link > https://www.unum.capital/post/wafirst The chart below is as of yesterday's close. __________________________________________________________________________________ Previous Post (18 Nov

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tr adingdesk@unum.co.za In the previous note, our CORE THESIS was that the share was 'Structurally Bullish, But Extremely Overbought' with 17160c to 17500c was marked as a key resistance level. Since then the share was rejected off this range on multiple occasions with a new multi-week low of 16105c being reached during yest

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Previous Post (Tuesday 25 November): Trading Clicks: Early Buy Re-Entry Trigger (Counter-Trend Opportunity) + Current Price Action Probabilities Previous Notes on Clicks (CLS) Previous Sell Re-Entry From +400 (Update) > https://www.unum.capital/post/clsds Previous Buy Re-Entry From R352 https://www.u

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Previous Post (25 November): Strategy Alert: Naspers Trading Notes (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

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tr adingdesk@unum.co.za Previous Post: 🎥Video: Profiting with Northam Platinum Previous Post (Wednesday, 19 November)🎥Watch: Trading Northam Platinum Previous Post (18 November)🎥Watch: Price Action Models Valterra Platinum & Northam Platinum Lester Davids Senior Investment Analyst: Unum Capital

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tr adingdesk@unum.co.za Previous Post (28 October): Global Idea: Invesco Dorsey Wright Healthcare Momentum ETF ETF Code: PTH Last: $47.36 (Pre-Market = $48.00) Stop-loss: $41.50 Target: $58.00 - $60.00 Lester Davids Senior Investment Analyst: Unum Capital

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 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 November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tr adingdesk@unum.co.za Previous Post (Sunday 23 November): Trading Spot Gold: Analysis of Weekly Time Frames + Price Action Model Lester Davids Senior Investment Analyst: Unum Capital Trading Notes (Where Applicable): READY TO TRADE: ACTIONABLE AREAS For active traders who look to generate cash flow on a continuous basis, d

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tr adingdesk@unum.co.za Previous Post (18 November): Take Profit on Harmony Gold: Price Lower by 18% vs Sell Re-Entry Range Previous Post (13 November)🎥Watch: Harmony Gold - Solid Rebound (+23%). Now Watch The Sell Side! Lester Davids Senior Investment Analyst: Unum Capital

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za The report is available to active trading clients. For access, clients can e-mail lester@unum.co.za Previous Post (26-Nov) Healthcare: The Dominant Performer; In Line With Our Technical Screens (+9.5% vs 0.5%) Healthcare: Dominant Performer; In Line With Our Technical Screens SPDR Healthcare ETF (XLV)

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Previous Post (Tuesday 25 November): Trading Clicks: Early Buy Re-Entry Trigger (Counter-Trend Opportunity) + Current Price Action Probabilities Previous Notes on Clicks (CLS) Previous Sell Re-Entry From +400 (Update) > https://www.unum.capital/post/clsds Previous Buy Re-Entry From R352 https://www.u

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za "Strategy Alerts" help clients identify trading opportunities . When a ticker's real-time or pre-market price action aligns with the criteria on a slide—such as a pullback to the 21-day EMA or a breakout from a consolidation base—it effectively "matches" that stock to the strategy, triggering an alert

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tr adingdesk@unum.co.za Previous Post Tiger Brands: Rebounding Off The R288-R295 Buy Re-Entry Range, Now Trading +R336 (+15%) Previous Post (19 June): Tiger Brands: Unwinding From Overbought; 21-Week EMA In Focus Recently we highlighted TBS being overbought on 3x time frames. The share then traded slightly higher before retr

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Healthcare: Dominant Performer; In Line With Our Technical Screens SPDR Healthcare ETF (XLV) +9.5% SPDR S&P 500 ETF (SPY) +0.5%) The slides below are an extract from our PREMIUM 04 October ETF analysis chartbook where we summarized various key themes among the nearly 700 ETFs we track. Well done to cli

Research Notes November 2025 > https://www.unum.capital/post/rnov2025 Trade Local & Global Financial Markets with Unum Capital. To get started, email tr adingdesk@unum.co.za Previous Post (24 November): Take Profit: Johnson & Johnson Full Target Reached at $205 Previous Post (03 November 2025: Update: Invesco Pharmaceuticals ETF Running +13% Previous Post (10 Aug): Invesco Pharmaceuticals ETF (Bull Flag Below Multi-Year Resistance + (see Johnson & Johnson) Invesco Pharma