Search this site

September 2026 > https://www.unum.capital/post/rsep2026 NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Execute Your Trades Via The Unum Capital Trading Desk: Our research is often consumed by traders that execute our ideas via the trading desk of a competing service provider. This means that our screen time and research efforts ultimately benefits our our competitors, who capture the associated brokerage fees. For this reason, some of our discretionary research insights are regarded as premium and available only to active trading clients. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? Please Note: The price charts, as well as the analyst's price action model now form part of our PREMIUM content. South 32 - approaching overbought as well as nearing it's swing highs at 6200c. Short term traders, consider selling/reducing into strength. Lester Davids Senior Investment Analyst: Unum Capital

September 2026 > https://www.unum.capital/post/rsep2026 NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes The price chart, including the next best probability buy and sell ranges now form part of our PREMIUM content. Execute Your Trades Via The Unum Capital Trading Desk: Our research is often consumed by traders that execute our ideas via the trading desk of a competing service provider. This means that our screen time and research efforts are in vain as brokerage fees flow to our competitors. For this reason, some of our discretionary research insights are regarded as premium and available only to active trading clients. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? The index rebound from our buy re-entry range and is now is a consolidation phase. STRUCTURAL RATING: ⭐⭐⭐☆☆ The reward-to-risk profile is constructive but requires tactical patience due to lower time frame weakness within a broader upward regime. For a Buy/Long position, the reward-to-risk is Moderate 🟨 because while the asset is in a steady macro upward trend, the short-term trend is neutral, the intermediate trend is rangebound, and the index is actively consolidating. Capital must wait for a validated test of dynamic support (the 21-EMA or 50-EMA) to trigger a rebound buy. Conversely, for a Short/Sell position, the reward-to-risk is Moderate 🟨; the long-term model specifically warns that a failure to hold prior session range highs creates a tactical short-sell opportunity against the consolidating tape. TACTICAL ACTION SCALE 🟥 At/approaching sell/reduce 🟧 Sell (continuation) 🟨 Sell on rally 🟠 Sell on sharp rally ⬜ Neutral 🔵 Buy on deeper pullback 🟢 Buy on pullback — Pending: Waiting for a standard counter-trend dip to execute a buy. ⬅️ J200 IS POSITIONED HERE 🟦 Buy (continuation) 🟩 At/approaching buy/add RATIONALE: With short-term momentum reading as "Neutral" and intermediate momentum characterized as "Rangebound," the index is experiencing lower time frame weakness. However, because the medium and long-term structures confirm it is "Consolidating Within an Upward Trend," the primary tactical directive is to locate support. Market participants are instructed to monitor the 21-EMA or the 50-EMA for a successful reclaim to trigger a rebound buy, placing the index firmly in a Buy on pullback posture. SCENARIO MATRIX (BASE, BEAR & BULL CASE) Base Case (60% Probability): Orderly Consolidation & Support Test: The lower time frame weakness persists, driving the index into a controlled pullback. Price action successfully tests support at the 21-EMA or just below the 50-EMA. Buyers defend these levels, triggering a validated reclaim that ends the short-term neutral and rangebound chop, allowing the broader upward trend to resume. Bear Case (25% Probability): Support Fracture & Deeper Correction: The anticipated consolidation breaks down as selling pressure intensifies. The index fails to hold both the 21-EMA and 50-EMA support zones. The short-term weakness overrides the macro upward trend, triggering a deeper structural correction and invalidating the rebound buy setup. Bull Case (15% Probability): Immediate Range High Breakout: Institutional bids overwhelm the lower time frame weakness, completely bypassing the need for a deep pullback to the EMAs. The index forcefully clears prior session range highs, neutralizing the long-term tactical short-sell warning and initiating an immediate upward continuation squeeze. What Can Go Right From Current Levels (Risk For Short Sellers) For Existing Sell/Short Positions: Macro Trend Resurgence: Existing shorts are fighting an asset "Consolidating Within an Upward Trend." If the index successfully finds support at the EMAs and triggers a rebound buy, short positions will face aggressive upside pressure as the dominant macro structure reasserts control. For Potential (New) Sell/Short Positions: Shorting into Support: Initiating new short exposure while the index is actively hunting for support at the 21-EMA or 50-EMA is tactically flawed. Fading the exact zones where the model anticipates a "Rebound Buy" trigger exposes capital to an immediate technical squeeze. What Can Go Wrong From Current Levels (Risk For Buys/Longs) For Existing Buy/Long Positions: Consolidation Drawdown: Investors holding long positions face immediate localized chop and negative drift. Because the intermediate trend is "Rangebound" and the short-term exhibits "weakness," existing longs must endure an uncomfortable drawdown as the asset rotates downward to test dynamic support. For Potential (New) Buy/Long Positions: Front-Running the Reclaim: Entering fresh long allocations prematurely without waiting for the required technical confirmation violates the model's instructions. If buyers step in simply because the asset is dipping, but fail to wait for the "Reclaim To Trigger Rebound Buy," they risk catching a falling knife if the support levels unexpectedly fracture. Lester Davids Senior Investment Analyst: Unum Capital

September 2026 > https://www.unum.capital/post/rsep2026 NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes This content is free. Note Published: Wednesday 02 September at 21h40 (South African Time / US Trading Session) Tonight, several screens reflect that the sector is becoming tactically overextended...Short term traders, reduce into this strength. Lester Davids Senior Investment Analyst: Unum Capital

September 2026 > https://www.unum.capital/post/rsep2026 NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes PLEASE NOTE: The Price Action Model now forms part of our PREMIUM content. Chart & Analysis prepared on Wednesday 02 September (after market close, 19h28) for Thursday 03 September. Execute Your Trades Via The Unum Capital Trading Desk: Our research is often consumed by traders that execute our ideas via the trading desk of a competing service provider. This means that our screen time and research efforts are in vain as brokerage fees flow to our competitors. For this reason, some of our discretionary research insights are regarded as premium and available only to active trading clients. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? Lester Davids Senior Investment Analyst: Unum Capital

Analysis prepared & published: Sunday 30 August. Additional charts/data to be added on this page throughout the 1st week of September. 🔒[🔒] : 🔵 Buy on deeper pullback Omnia Holdings Limited [OMN] : 🔒 🔒 [🔒] : 🟩 At/approaching buy/add 🔒 [🔒] : 🟥 At/approaching sell/reduce Pan African Resources [PAN] : 🔒 🔒 [🔒] : 🟩 At/approaching buy/add 🔒 [🔒] : 🟩 At/approaching buy/add PowerFleet, Inc. [PWR] : 🔒 PPC Limited [PPC] : Premier Group Limited [PMR] : 🔒 🔒 [🔒] : 🟩 At/approaching buy/add 🔒 [🔒] : 🟩 At/approaching buy/add 🔒 [🔒] : ⬜ Neutral Quilter Plc [QLT] : 🔵 🔒 Rainbow Chicken Limited [RBO] : 🔒 #125 ⭐⭐⭐⭐☆ [🔒] 🔒 ZAC. [Category: 🟢 Buy on pullback | Macro: Strong / Accumulating | Floor: 11,155 – 11,549 ZAC | Ceiling: 13,648 – 14,436 ZAC] 🟩 Coal cashflow generator 🟩 Synchronized trend strength ⚠️ Daily volatility spikes. What Can Go Right From Here: Clean multi-timeframe breakout above overhead supply nodes drives sharp price discovery into the next resistance band. What Can Go Wrong From Here: Pullback below the recent breakout pivot forces an extended retest of support. 7D: High Bullish 7W: Strong 7M: Neutral #128 ⭐☆☆☆☆ [🔒] 🔒 ZAC. [Category: 🟩 At/approaching buy/add | Macro: Oversold | Floor: 3,843 – 3,979 ZAC | Ceiling: 4,702 – 4,974 ZAC] 🟥 Apparel retail breakdown 🟥 Severe multi-timeframe collapse ⚠️ Oversold capitulation zone. What Can Go Right From Here: Capitulation-volume selloff meets historical support, setting up an explosive short-squeeze bounce. What Can Go Wrong From Here: Continued technical breakdown pushes price to new multi-year markdown levels. 7D: Oversold 7W: Oversold 7M: Oversold #130 ⭐⭐⭐☆☆ [🔒] 🔒 ZAC. [Category: ⬜ Neutral | Macro: Neutral / Consolidating | Floor: 116,236 – 120,339 ZAC | Ceiling: 142,218 – 150,423 ZAC] 🟨 Mining heavyweight baseline 🟩 Constructive weekly chart ⚠️ Daily consolidation phase. What Can Go Right From Here: Breakout from the multi-week bull flag initiates an impulsive leg higher toward upper envelope targets. What Can Go Wrong From Here: Inability to hold moving support shelves extends the current consolidation phase. 7D: Weak 7W: Neutral 7M: Neutral Lester Davids Senior Investment Analyst: Unum Capital

September 2026 > https://www.unum.capital/post/rsep2026 NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes The Price Action Model now forms part of our PREMIUM content. Published Wednesday, 02 September at 14h09. PPH Weekly Chart. "If I want to know the best probability course of action from current levels, I take a reading from the price action model. For years, the price action model has been the tool that has helped me identify opportunities, thereby leading to better outcomes for clients" - Lester Davids The price action model is a proprietary non-A.I., excel-based tool developed by the analyst, based on his understanding on price action, momentum and structure. Here Are 5 Real-Time Ideas Which Helped Clients Manage Risk and Uncover Opportunities. Idea Number #1: Valterra Platinum > https://www.unum.capital/post/val1208 Idea Number #2: Harmony Gold > https://www.unum.capital/post/har1108 Idea Number #3: Thungela Resources > https://www.unum.capital/post/tga0804 Idea Number #4: Sasol > https://www.unum.capital/post/solrebo Idea Number #5: Nedbank > https://www.unum.capital/post/ned0603 Execute Your Trades Via The Unum Capital Trading Desk: For a decade, more than 90% of our research has been free, which means that whether you are a client or not, you can access our insights, including our trade ideas. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? THE TACTICAL TRADING GUIDE (PRICE ACTION MODEL): UNCOVER OPPORTUNITIES & ASSESS REWARD-TO-RISK It helps helps clients determine and shed light on the some of the following: The CURRENT TECHNICAL POSITION and a PRICE ACTION PROBABILITY for multiple time frames. Three (3) ‘trading’ time frames are considered: Short Term (1 to 10 days) / Medium Term (2 to 4 weeks) and Long Term (5 to 8 weeks) Whether the reward-to-risk is attractive for a buy/long position Whether a share is weak. In this case, wait until the price stabilizes before looking to enter (i.e. want until it stops going down) Whether aggressive buying is underway. In this case, do not ‘chase’ (do not buy) but instead wait for a pullback to re-enter a buy or an overextension with deteriorating candle structure to sell/short. Whether a trader can look to buy a pullback into a key moving average (continuation trade) Whether a share needs to break a range for a new trend to be determined (bullish or bearish) Whether a traders needs to monitor for a change of character that could lead to a bullish or bearish reversal Whether a share could start a consolidation phase or before continuing it’s bullish or bearish trend Whether the upward momentum is slowing (if it's in a bullish phase) Whether buyers can look to 'phase in' to a position (if it's in a bearish phase) Whether a share lacks directional bias. The data set is available in real-time (on request) The readings are subject to change as the price action develops. Lester Davids Senior Investment Analyst: Unum Capital

September 2026 > https://www.unum.capital/post/rsep2026 NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes The Price Action Model now forms part of our PREMIUM content. Published Wednesday, 02 September at 12h37. This share reminds me of Sasol when it traded at R70!!!!!!!!!!!! Yes, Sasol traded lower but it staged a massive recovery!!!!!!!!!!!!!!! "If I want to know the best probability course of action from current levels, I take a reading from the price action model. For years, the price action model has been the tool that has helped me identify opportunities, thereby leading to better outcomes for clients" - Lester Davids The price action model is a proprietary non-A.I., excel-based tool developed by the analyst, based on his understanding on price action, momentum and structure. Here Are 5 Real-Time Ideas Which Helped Clients Manage Risk and Uncover Opportunities. Idea Number #1: Valterra Platinum > https://www.unum.capital/post/val1208 Idea Number #2: Harmony Gold > https://www.unum.capital/post/har1108 Idea Number #3: Thungela Resources > https://www.unum.capital/post/tga0804 Idea Number #4: Sasol > https://www.unum.capital/post/solrebo Idea Number #5: Nedbank > https://www.unum.capital/post/ned0603 Execute Your Trades Via The Unum Capital Trading Desk: For a decade, more than 90% of our research has been free, which means that whether you are a client or not, you can access our insights, including our trade ideas. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? THE TACTICAL TRADING GUIDE (PRICE ACTION MODEL): UNCOVER OPPORTUNITIES & ASSESS REWARD-TO-RISK It helps helps clients determine and shed light on the some of the following: The CURRENT TECHNICAL POSITION and a PRICE ACTION PROBABILITY for multiple time frames. Three (3) ‘trading’ time frames are considered: Short Term (1 to 10 days) / Medium Term (2 to 4 weeks) and Long Term (5 to 8 weeks) Whether the reward-to-risk is attractive for a buy/long position Whether a share is weak. In this case, wait until the price stabilizes before looking to enter (i.e. want until it stops going down) Whether aggressive buying is underway. In this case, do not ‘chase’ (do not buy) but instead wait for a pullback to re-enter a buy or an overextension with deteriorating candle structure to sell/short. Whether a trader can look to buy a pullback into a key moving average (continuation trade) Whether a share needs to break a range for a new trend to be determined (bullish or bearish) Whether a traders needs to monitor for a change of character that could lead to a bullish or bearish reversal Whether a share could start a consolidation phase or before continuing it’s bullish or bearish trend Whether the upward momentum is slowing (if it's in a bullish phase) Whether buyers can look to 'phase in' to a position (if it's in a bearish phase) Whether a share lacks directional bias. The data set is available in real-time (on request) The readings are subject to change as the price action develops. Lester Davids Senior Investment Analyst: Unum Capital

September 2026 > https://www.unum.capital/post/rsep2026 NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Previous Post 💡Buy Idea: S&P 500 Volatility Index (VIX) Published 12h28 (South African Time) on 20 August 2026. Key Drivers: The surge in US (and global) bond yields has not been a problem for equities however, intervention by the officials may raise cause for concern. Our technical screeners (using ETFs) reflect an extreme lack of oversold instruments and a vast number of overbought instruments S&P 500 Index +38% above it's 200-week SMA (2nd highest reading since the year 2000). In addition, a bearish distance divergence is present. 72% of S&P 500 shares trade above their 200-day simple moving averages. While this is healthy, this is at the upper boundary of a 5-year range. Volatility seasonality - nearing a period (measured over 20 years of data) where the VIX has shown historical elevation. Buy at current levels (15.15) or lower Stop-loss: 12.20 Target: 20.00 Lester Davids Senior Investment Analyst: Unum Capital

September 2026 > https://www.unum.capital/post/rsep2026 NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes At 4.01% in September, my price action model called for higher bond yields on the higher time frame. Now, higher bond yields across the globe are placing equities at risk. Current level = 4.81%. Previous Post (17 September 2025): US 10-Year Bond Yield: Short Term Weak, But Probability of Rebound On Higher Time Frame Lester Davids Senior Investment Analyst: Unum Capital

September 2026 > https://www.unum.capital/post/rsep2026 NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Sharp Downside Follow-Through (-19%), Rewarding Opportunistic/Active Traders. Harmony Gold advanced into the sell re-entry range (traded at the upper boundary thereof) and was down by as much as 19%. Well done to clients who took the opportunity to trade. Execute Your Trades Via The Unum Capital Trading Desk: For a decade, more than 90% of our research has been free, which means that whether you are a client or not, you can access our insights, including our trade ideas. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? Previous Post (13 August): Trading Harmony Gold: Actionable Areas For Short Term Traders Our research is open, which means that whether you are a client or not, you can access our research, including our trade ideas. If you have been reading our reading but using another trading services provider/broker to execute your trades, why not consider moving you trading account to Unum Capital? 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, specifically by helping to determine the best potential times and levels to commit capital. The blue and red horizontal lines on the chart represent a next-best-probability buy re-entry range and a next-best-probability sell re-entry range over the short term. The ranges assume no existing position is being held by a trader, while the probabilities are based on several factors, which may include: Short-term ratings and medium-term regimes Momentum indicators Horizontal or diagonal support and resistance Candle structure Moving averages and standard deviation Please note that these are short-term levels and may contrast with medium- and long-term outlooks, which are based on the weekly and monthly charts and are generally more applicable to long-term investors. These levels are subject to change based on market sentiment, subsequent price action, and company/sector-specific or macroeconomic news flow. As always, while the levels are outlined to guide your capital deployment, traders should be prepared to adjust in real-time based on the aforementioned factors. THE TACTICAL TRADING GUIDE (PRICE ACTION MODEL): UNCOVER OPPORTUNITIES & ASSESS REWARD-TO-RISK It helps helps clients determine and shed light on the some of the following: The CURRENT TECHNICAL POSITION and a PRICE ACTION PROBABILITY for multiple time frames. Three (3) ‘trading’ time frames are considered: Short Term (1 to 10 days) / Medium Term (2 to 4 weeks) and Long Term (5 to 8 weeks) Whether the reward-to-risk is attractive for a buy/long position Whether a share is weak. In this case, wait until the price stabilizes before looking to enter (i.e. want until it stops going down) Whether aggressive buying is underway. In this case, do not ‘chase’ (do not buy) but instead wait for a pullback to re-enter a buy or an overextension with deteriorating candle structure to sell/short. Whether a trader can look to buy a pullback into a key moving average (continuation trade) Whether a share needs to break a range for a new trend to be determined (bullish or bearish) Whether a traders needs to monitor for a change of character that could lead to a bullish or bearish reversal Whether a share could start a consolidation phase or before continuing it’s bullish or bearish trend Whether the upward momentum is slowing (if it's in a bullish phase) Whether buyers can look to 'phase in' to a position (if it's in a bearish phase) Whether a share lacks directional bias. The data set is available in real-time (on request) The readings are subject to change as the price action develops. Lester Davids Senior Investment Analyst: Unum Capital

September 2026 > https://www.unum.capital/post/rsep2026 NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes The Price Action Model now forms part of our PREMIUM content. Published on Tuesday, 01 September (after market close), for Wednesday, 02 September. "If I want to know the best probability course of action from current levels, I take a reading from the price action model. For years, the price action model has been the tool that has helped me identify opportunities, thereby leading to better outcomes for clients" - Lester Davids The price action model is a proprietary non-A.I., excel-based tool developed by the analyst, based on his understanding on price action, momentum and structure. Here Are 5 Real-Time Ideas Which Helped Clients Manage Risk and Uncover Opportunities. Idea Number #1: Valterra Platinum > https://www.unum.capital/post/val1208 Idea Number #2: Harmony Gold > https://www.unum.capital/post/har1108 Idea Number #3: Thungela Resources > https://www.unum.capital/post/tga0804 Idea Number #4: Sasol > https://www.unum.capital/post/solrebo Idea Number #5: Nedbank > https://www.unum.capital/post/ned0603 Execute Your Trades Via The Unum Capital Trading Desk: For a decade, more than 90% of our research has been free, which means that whether you are a client or not, you can access our insights, including our trade ideas. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? THE TACTICAL TRADING GUIDE (PRICE ACTION MODEL): UNCOVER OPPORTUNITIES & ASSESS REWARD-TO-RISK It helps helps clients determine and shed light on the some of the following: The CURRENT TECHNICAL POSITION and a PRICE ACTION PROBABILITY for multiple time frames. Three (3) ‘trading’ time frames are considered: Short Term (1 to 10 days) / Medium Term (2 to 4 weeks) and Long Term (5 to 8 weeks) Whether the reward-to-risk is attractive for a buy/long position Whether a share is weak. In this case, wait until the price stabilizes before looking to enter (i.e. want until it stops going down) Whether aggressive buying is underway. In this case, do not ‘chase’ (do not buy) but instead wait for a pullback to re-enter a buy or an overextension with deteriorating candle structure to sell/short. Whether a trader can look to buy a pullback into a key moving average (continuation trade) Whether a share needs to break a range for a new trend to be determined (bullish or bearish) Whether a traders needs to monitor for a change of character that could lead to a bullish or bearish reversal Whether a share could start a consolidation phase or before continuing it’s bullish or bearish trend Whether the upward momentum is slowing (if it's in a bullish phase) Whether buyers can look to 'phase in' to a position (if it's in a bearish phase) Whether a share lacks directional bias. The data set is available in real-time (on request) The readings are subject to change as the price action develops. Lester Davids Senior Investment Analyst: Unum Capital

September 2026 > https://www.unum.capital/post/rsep2026 NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes This content is free. Analyst disclosure: This content has been generated using an artificial intelligence tool, based on my own data. Published on Tuesday, 01 September (after market close), for Wednesday, 02 September. #9 ⭐⭐⭐⭐☆ Anglo American plc [AGL] 89,599 ZAC. [Category: Buy on Pullback 🟢 | Macro Status: High Bullish Momentum | Est. Oversold: 🔒 ZAC | Est. Overbought: 🔒 ZAC] 🟩 Heavyweight trend anchor 🟩 Solid structural foundation ⚠️ Daily consolidation pause. What Can Go Right From Here: A successful retest of dynamic trendline support triggers the next impulsive leg within the broader primary bull trend. What Can Go Wrong From Here: Short-term commodity pullbacks lead to a test of lower channel support. 7D: Strong 7W: Strong 7M: High Bullish. #18 ⭐⭐⭐⭐☆ BHP Group Ltd [BHG] 75,148 ZAC. [Category: Buy on Pullback 🟢 | Macro Status: High Bullish Momentum | Est. Oversold: 🔒 ZAC | Est. Overbought: 🔒 ZAC] 🟩 Primary trend bull 🟨 Daily cooling phase ⚠️ Macro ceiling resistance. What Can Go Right From Here: Daily consolidation resets momentum oscillators while holding the primary rising trendline, building energy for a retest of highs. What Can Go Wrong From Here: Daily stagnation spills into broader weekly distribution, capping immediate upside. 7D: Neutral 7W: High Bullish 7M: High Bullish #48 ⭐⭐⭐⭐☆ Glencore plc [GLN] 12,996 ZAC. [Category: Buy on Pullback 🟢 | Macro Status: High Bullish Momentum | Est. 🔒 ZAC | Est. Overbought: 🔒 ZAC] 🟩 Diversified mining titan 🟩 Multi-timeframe trend ignition ⚠️ Stretched technical bands. What Can Go Right From Here: A shallow bull flag consolidation resolves higher, triggering a measured move into upper Fibonacci target zones. What Can Go Wrong From Here: Extended weekly momentum invites an orderly retracement toward support shelves. 7D: High Bullish 7W: High Bullish 7M: High Bullish Lester Davids Senior Investment Analyst: Unum Capital