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Research Notes October 2025 > https://www.unum.capital/post/roct2025

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• Now Running +140% since publication on original view which considered a potential bullish reversal.

• Also Overbought On Daily & Weekly Time Frames.

• Bearish Engulfing Candle on Daily Time Frame.

• Reduce Into Strength.

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The original comment, as published on Tuesday 13 February for Unum Capital clients, is shown below (Was 5274c, now nearing 6684c).

Lester Davids

Senior Investment Analyst: Unum Capital