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+40 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/raug2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes This is an update on the original note which was published on this website on 20 July (see further below). African Rainbow Minerals (ARI) The rebound is also in line with the price action model. Previous Post (20 July): 🟩Approaching Buy Range: Lower Levels Expected Before Tactical Rebound (JSE Mining Share) Published on Monday 20 July at 13h23. INSTRUMENT: ARI (African Rainbow Minerals) DATE & TIME: Monday, July 20, 2026 | 1:13:40 PM Provisional Buy Re-Entry Range 14800c to 15800c STRUCTURAL RATING: ⭐⭐☆☆☆ The reward-to-risk profile is highly asymmetric but currently restricted by intense, high-velocity selling pressure. For a Buy/Long position, the reward-to-risk is becoming attractive 🟩 for a small tactical allocation, as the structural markdown has reached levels where medium-term risk-reward is favorable; however, deployment must be executed defensively by phasing in capital or waiting for selling momentum to slow. Conversely, for a Short/Sell position, the reward-to-risk is Poor 🟥 due to extreme multi-frame extension under "Very Aggressive Selling" conditions, leaving late-stage short sellers highly exposed to a sharp, reflexive short-covering event if selling pressure exhausts. TACTICAL ACTION SCALE 🟥 At/approaching sell/reduce 🟠 Sell on sharp rally 🟨 Sell on rally 🟧 Sell (continuation) ⬜ Neutral 🟦 Buy (continuation) 🟢 Buy on pullback 🔵 Buy on deeper pullback 🟩 At/approaching buy/add ⬅️ ARI IS POSITIONED HERE RATIONALE: With the 7-day trend "Weak" and the 14-day trend "Very Bearish," the index constituent is experiencing severe near-term technical capitulation. However, because the medium-term matrix explicitly notes that the "reward-to-risk is becoming attractive for a small buy/long position," the asset has officially entered a high-conviction value zone. The model authorizes market participants to either "Wait Until Downward Momentum Starts To Slow Before Buying In" or "Alternatively Phase In Buying." This justifies a strategic position at At/approaching buy/add, favoring scaled scale-in accumulation over chasing momentum. On 29 January we warned on the share at R267 (the peak). Currently trading ~R168. 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

+40 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/raug2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes STANDARD BANK (SBK): If you don't want to take earnings risk, then you can consider locking in the R10 gain thus far on this trade. The share traded directly into the sell re-entry range which was followed by a sell-off that has resulted in a +R10 gain thus far. For those would want to continue to hold, consider using a trailing stop-loss. The original note is shown further below. Previous Post💡Trade Setup: Continuation Sell Time of Note: 08h30am, Thursday 09 July 2026 Standard Bank (SBK) | As you already know, the red and blue shaded areas represent the next best-probability sell and buy-re-entry ranges. We discussed Standard bank previously with clear sell levels provided (32870c - 33681c, also see further below on this note). The NEW levels are subject to change in real-time as the price action, market sentiment and candle structure changes. Previous Post (01 July, Post Market): Standard Bank: Deteriorating Candle Structure & Unwinding From Medium Term Overbought Levels Analysis prepared and published on Wednesday, 01 July (post-market close) for Thursday 02 July. Notes on the chart. 2nd opportunity to sell SBK into that EXACT SAME range (32870c - 33681c)! Now with deteriorating candle structure as the results from one of it's peers (ABG). Sees sellers emerge. Remember, Banks have been overbought on a relative basis vs the broader market. We highlighted that on the relative strength and rotation notes. Scroll down for previous view. Previous Post (12 May): Standard Bank: Generating Cash For Short Sellers (~3000c); S/Term Traders Lock In Some Profits Here! On Sunday 15 February, we highlighted the opportunity in Standard Bank, to short/sell on a spike toward a specific range. Yesterday the share reached the range, TRADED EXACTLY INTO THE UPPER BOUNDARY and has since declined by between 3800c excluding the recent dividend (870c). The original note, with specific levels can be accessed at the following link (and if you scroll down) > https://www.unum.capital/post/sbk1602 We also discussed the share in a premium note > https://www.unum.capital/post/finsec0804 Below is the current/updated chart. Previous Post (Sunday 15 February): Near Term Spike Into Medium Term Overbought Conditions Could Create Short/Sell Opportunity Analyst's Price Action Model SBK Daily Chart 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

+40 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/raug2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes 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

+40 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/raug2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Update: Yesterday (Tuesday, 11/08), the index has developed a bearish reversal candle, ending the day lower by more than 1400 points. The move is also in line with the price action model (published in the original note) which warned against new long positions as well as highlighting the risk of a pullback. Previous Post (Friday 07 August): JSE Top 40 Index: The Reward-To-Risk From Current Levels STRUCTURAL RATING: ⭐⭐☆☆☆ The reward-to-risk profile is currently constrained near-term by overextended momentum. For a Buy/Long position, the reward-to-risk is Poor 🟥 because the index has pushed into overbought territory on lower time frames, rendering fresh long entries at current levels highly unattractive. Conversely, for a Short/Sell position, the reward-to-risk is Moderate 🟨; while the long-term regime has resumed a powerful bull move in a strong upward trend, localized overextension offers a tactical window to look for a failure to hold prior session lows to initiate a brief 1-2 day short setup. 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: While J200 is currently "Overbought" near-term and short-term long entries carry an "Unattractive" risk-reward profile, its 14-day trend is "Very Bullish" and its long-term baseline "Has Resumed A Bull Move In A Strong Upward Trend." Because entering fresh long allocations at current elevated levels is structurally dangerous, the primary bias is to wait for a counter-trend consolidation or pullback to digest recent gains before safely adding long exposure. SCENARIO MATRIX (BASE, BEAR & BULL CASE) Base Case (60% Probability): Overbought Digestion & Minor Pullback: The near-term tape remains highly extended, forcing a natural pause in upward velocity. The index fails to hold prior sessions, triggering the 1-2 day short setup, which allows the asset to safely bleed off overbought momentum and pull back into short-term moving averages before resuming its primary long-term bull move. Bear Case (25% Probability): Aggressive Technical Rejection: The anticipated failure to hold prior sessions attracts severe institutional distribution rather than standard profit-taking. A rapid unwinding of the "Very Bullish" 14-day trend forces the index into a deeper, highly volatile correction, pushing price well past standard pullback zones and threatening the underlying macro bull structure. Bull Case (15% Probability): Runaway Momentum Expansion: The index completely ignores its short-term "Overbought" condition. Relentless buying pressure forces an immediate continuation of the strong upward trend, denying short sellers their 1-2 day tactical setup and forcing sidelined capital to chase the rally at increasingly unattractive risk-reward metrics. What Can Go Right From Current Levels (Risk For Short Sellers) For Existing Sell/Short Positions: Macro Trend Steamroller: Existing shorts are fighting a tape that is officially marked by a "General Trend Up" in the medium-term and a "Strong Upward Trend" long-term. If the index refuses to pull back and simply grinds higher through overbought conditions, short positions will face immediate capital erosion and an unchecked momentum squeeze. For Potential (New) Sell/Short Positions: Front-Running the Rejection: Initiating a fresh 1-2 day short setup before the index explicitly shows a "Failure To Hold Prior Sessions" carries high tactical risk. Stepping in front of a "Very Bullish" 14-day trend without a confirmed localized breakdown exposes new capital to rapid upside variance. What Can Go Wrong From Current Levels (Risk For Buys/Longs) For Existing Buy/Long Positions: Immediate Mean Reversion: Investors holding long positions are actively riding an "Overbought" 7-day trend. As the asset naturally looks to establish a localized failure to trigger a 1-2 day short cycle, existing longs face an immediate, uncomfortable drawdown while price digests its recent vertical ascent. For Potential (New) Buy/Long Positions: Chasing the Apex: Entering fresh allocations at current levels explicitly defies the model's warning that the risk-reward is definitively "Unattractive." Buying here forces capital to absorb the brunt of the imminent pullback, guaranteeing compromised entry pricing and negative drift as the index seeks a structural floor. 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

+40 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/raug2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes 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

+40 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/raug2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Rainbow Chicken (RBO) Current trading ~590c Breakout confirmed above 615c Target = 720c Stop-loss: 555c Lester Davids Senior Investment Analyst: Unum Capital

+40 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/raug2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Have you previously capitalized on the readings via the price action model? If yes, I'd like to hear from you. Get in touch at lester@unum.co.za Premium Content 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

+40 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/raug2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Extreme price movements often deserve closer inspection to determine whether an opportunity is at hand. This was exactly our approach on 19 March when JSE gold shares were under extreme selling pressure. Our first step? Check the price action model to determine the probabilities for the various time frames. At the time, the reading for Harmony Gold highlighted a BUY on the lowest time frame and the potential for a rebound on the highest time frame. This is exactly how the price action played out: a strong rebound followed by a consolidation, followed by a much bigger move of 50% in under 5 months. Well done to clients who took the opportunity to trade. The original post (which included the time-stamped price action model) is shown further below. Previous Post (Thursday, 19 March)💡Harmony Gold: Early Buy Trigger; Lower Levels Expected Before Potential Rebound Analyst's Price Action Model (Take Note of the Applicable Time Frames As Per The Model) Harmony Gold Daily Chart (15-min Delayed) 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

+40 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/raug2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes French aerospace and defense company. Market cap = €54bn Buy between €265 and €270 Stop-loss: €244 Target: €345 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

+40 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/raug2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Sibanye Stillwater (SSW): Strong upside follow-through with a 33% rally to Friday's highs. The move was in line with the price action model (see the 21 June post further below). Anyone latch onto this opportunity? I'd love to hear from you. Get in touch at lester@unum.co.za Updated Actionable Areas: Previous Post (Sunday, 21 June): How To Trade Sibanye Stillwater + Current Risks & Probabilities Earlier this month (Sunday 07 June) we highlighted the share as a buying opportunity, under the condition that the price traded into the provisional buy range. The share traded into the buy range and rebound strongly (+19%), helping traders lock in profit and generate cash flow. We have since seen the share roll back over, remaining weak but possibly offering an opportunity to buy on lower levels. The price action model highlights a 'weak' regime while the short term reading states the share is becoming attractive for a small buy/long position. The medium term reading notes aggressive selling while warning traders to wait for the lower time frames to stabilize. On the highest time frame, there is a 'probability of a small rebound'. Best probability provisional buy range: 3200c to 3420c Stop-loss: 3010c Target: Open All levels are subject to change as the news flow and price action develops. Previous Post (Friday, 12 June): 🟩Making Money on Sibanye Stillwater ✔ Take Profit On This Rebound +7.4% The share traded below 3700c (low of 3694c), giving traders an opportunity to accumulate. The share is currently higher by 7.4% from 3700c. For short term traders, the rebound creates an opportunity to take profit. Previous Post (Sunday 07 June) 💡🟩JSE Platinum Share: Bearish Trend, But Prints Below 3700c Creates Oversold Buying (Rebound) Opportunity (1) regime = high bearish momentum / approaching oversold (2) 200d breakdown (3) very poor candle structure (4) trading on neckline support (likely to break lower) (5) unfilled gap at ~4000c and ~3819c (6) aggressive selling candle take it down to the 200-week near 3700c-3400c 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

+40 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/raug2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Lester Davids Senior Investment Analyst: Unum Capital

+40 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: July 2026 > https://www.unum.capital/post/raug2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Lester Davids Senior Investment Analyst: Unum Capital