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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 Published on Tuesday, 04 August at 20h55 (South African Time / U.S Trading Session) One year later and nearly 10,000 points higher. Consider moving your trading account to Unum Capital today. 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

+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 It's unfortunate that the commodity did not trade into our buy re-entry range however it now trades around +8% since the alert on 25 June. Previous Post (25 June): Spot Platinum: Nearing Short Term Buy Range (See Chart) + In-Depth View Short Term Takeaway: Watch $1390 to $1490 as a buy re-entry range for a short term oversold rebound trade. Analyst Disclosure: The commentary below was produced using an artificial intelligence tool, based on my own data. STATUS OVERVIEW TECHNICAL CONDITION: 🟥 SHARP CORRECTION / DOWNTREND CATEGORY: 🟥 BEARISH / EXTREME OVERSOLD WATCH TREND STATUS Daily Trend: 🟥 Steep Downtrend / Severely Oversold Weekly Trend: 🟥 Aggressive Correction / Momentum Reversal Monthly Trend: 🟩 Secular Bull / Deep Pullback Phase Primary Action: 🟨 Wait for Capitulation / 🟩 Prepare for Tactical Bounce CORE THESIS: Aggressive Unwind in a Secular Bull Market Spot Platinum (XPTUSD) is currently experiencing a violent corrective phase following a spectacular, multi-year parabolic rally. After surging from the 2020 lows (~$600) to an incredible peak near $2,800 in early 2026, the asset has entered a period of severe distribution. The price has cascaded downward, currently trading near the $1,550 level, representing a substantial haircut from its recent highs. While the immediate daily and weekly structural trends are decisively broken to the downside, this is occurring within the context of a massive secular bull run visible on the monthly chart. Crucially, short-term momentum (RSI) on both the daily and weekly timeframes has reached extreme oversold territory. This suggests the current wave of selling pressure is mathematically exhausted and highly vulnerable to a sharp mean-reversion bounce. The strategic focus must shift from shorting the breakdown to identifying a tactical bottom for a relief rally. Verdict: 🟨 DO NOT CATCH THE FALLING KNIFE / 🟩 WATCH FOR MOMENTUM DIVERGENCE FOR A TACTICAL LONG / 🟥 DO NOT INITIATE NEW SHORTS. STRUCTURAL PROFILE (Based on Core Momentum Data) DAILY (Tactical): Short-Term Trend ➔ 🟥 WATERFALL DECLINE WEEKLY (Intermediate): Structural Trend ➔ 🟥 DEEP CORRECTION MONTHLY (Secular): Macro Cycle ➔ 🟩 SECULAR BULL (PULLBACK) Profile Alignment: We are observing a classic "boom and bust" correction within a larger macro uptrend. The Monthly chart confirms the sheer scale of the 2020-2026 rally; the current drop, while severe, is technically a pullback within that wider context. However, the Weekly and Daily charts dictate the current dominant action: aggressive liquidation. The unifying theme across the lower timeframes is extreme negative momentum (RSI ~21 on both Daily and Weekly), setting the stage for an imminent counter-trend reaction. STRUCTURAL TIME FRAME ANALYSIS 🟥 Daily Momentum (The Tactical Engine): The Daily chart reveals a relentless "waterfall" decline since the start of 2026. The price action is characterized by lower lows and lower highs with minimal relief. However, the 7-period RSI has plunged to ~21.27. This deep oversold condition historically precedes sharp, violent relief bounces as late shorts cover and tactical buyers step in. 🟥 Weekly Liquidation (The Structural Driver): The Weekly chart highlights the severity of the rejection from the $2,800 peak. The trend structure is broken, but the momentum reading is the key takeaway: the weekly RSI is at ~21.58. It is extremely rare for an asset to maintain this level of weekly selling pressure without triggering a multi-week consolidation or mean-reversion rally. 🟩 Monthly Volatility (The Secular Anchor): The Monthly chart zooms out to show the massive secular bull market. Despite the current bloodbath, the asset remains vastly higher than its historical base. The monthly RSI has cooled to ~42.59, returning to neutral territory after being extremely overbought. This timeframe suggests that once the current liquidation concludes, structural support should be found. INTERACTION VERDICT - Capitulation Watch: "You have a broken short-term trend, but the rubber band is stretched to its absolute limit to the downside on the daily and weekly charts. The structural trend is your enemy right now, but the momentum extremes offer a highly asymmetric tactical opportunity. 🟨 Patience is required. Wait for momentum divergence or a clear reversal candle before attempting to buy." CATEGORIZATION & STRATEGY Daily Timeframe (Tactical) Primary Category: 🟥 WATERFALL DECLINE Impending Transition: 🟩 RELIEF RALLY / SHORT SQUEEZE Strategic Overlay: 🟨 WAIT FOR BULLISH DIVERGENCE OR EXHAUSTION VOLUME Weekly Timeframe (Intermediate) Primary Category: 🟥 AGGRESSIVE DISTRIBUTION Impending Transition: 🟨 BASE BUILDING / MEAN REVERSION Strategic Overlay: 🟥 AVOID CORE LONG POSITIONS UNTIL A HIGHER LOW FORMS Monthly Timeframe (Secular) Primary Category: 🟩 SECULAR BULL PULLBACK Impending Transition: 🟨 SEEKING MACRO SUPPORT Strategic Overlay: 🟨 MONITOR FOR LONG-TERM ACCUMULATION ZONES STRATEGIC INTERPRETATIONS BY TIMEFRAME 🟩 TACTICAL (Next 1 to 3 Weeks): "The Daily chart is dangerously oversold with RSI near 21. A violent relief rally of $100-$200 is highly probable purely to reset momentum. Aggressive traders can look for a daily close that forms a reversal pattern (hammer, bullish engulfing) to play a quick bounce. Set extremely tight stops below the low." Action: 🟩 Trade the Mean-Reversion (Low Size, High Alert) 🟨 INTERMEDIATE (Next 3 to 9 Months): Action: 🟨 Wait for a Weekly Base 🟩 SECULAR (Next 1 to 3 Years): Action: 🟨 Preserve Capital / Wait for Macro Support KEY RISKS TO THESIS 🟥 The Falling Knife (Continuation Risk) Scenario: The oversold conditions remain embedded. The asset enters a capitulation cascade, slicing through the $1,500 level and dropping rapidly toward $1,300 before any meaningful relief occurs. Impact: Bottom-fishers get crushed. Strict stop-losses are mandatory if attempting to catch the bounce. 🟧 The Dead Cat Bounce (Trap) Scenario: The asset rallies sharply by $100+ over a few days. It hits declining moving averages or previous structural breakdowns on the Daily chart and immediately resumes the primary downtrend to make new lows. Impact: Requires tactical traders to take profits aggressively into the first sign of resistance and not overstay their welcome. DECISION LOGIC Current State: "Waterfall Decline & Extreme Momentum Exhaustion" Question: Has the Daily chart printed a bullish reversal candle or momentum divergence? 🟩 Yes (Price makes a lower low, RSI makes a higher low) ➔ 🟩 EXECUTE TACTICAL BOUNCE TRADE 🟨 No, but holding steady (Price is chopping sideways at lows) ➔ 🟨 WAIT AND MONITOR 🟥 No, price continues to plunge (Red candles closing on their lows) ➔ 🟥 STAND ASIDE. DO NOT BUY YET. PRICE PROJECTIONS: FORWARD MODELING 🟩 BULL CASE ("Mean Reversion Rally"): Target ~$1,750-$1,800 | Probability: 45% The extreme oversold conditions trigger aggressive short-covering. Price snaps back violently to re-test recent breakdown levels on the Daily chart. This is a counter-trend bounce, not a new bull market. 🟧 BASE CASE ("Grinding Base"): Target ~$1,400-$1,600 | Probability: 35% The aggressive selling stops, but buyers remain hesitant. The asset chops sideways in a volatile range for several months to slowly work off the depressed momentum and build a foundation. 🟥 BEAR CASE ("Macro Capitulation"): Target ~$1,200-$1,300 | Probability: 20% The $1,500 level breaks decisively. Panic selling ensues, driving the asset down to test deeper macro structural support zones established during the 2021-2024 period. SCENARIO PLANNING 🟩 Trading the Bounce: If executing a mean-reversion trade, use the capitulation wick or swing low as a hard stop. Target the first major declining moving average or obvious resistance level. Take profits quickly and trail stops aggressively. 🟥 Respecting the Structural Trend: Remember that the Weekly timeframe is pointing straight down. Any long position right now is a counter-trend trade against severe momentum. EXECUTION PROTOCOL PRIMARY: 🟨 Stand aside for core long-term holds, 🟩 Prepare to trade tactical bounces with strict risk management. 🟥 Step 1: Do not initiate any new short positions. The risk-to-reward ratio is exceptionally poor here due to the threat of a violent short-squeeze. 🟨 Step 2: For tactical longs, wait for daily momentum to tick upward, ideally accompanied by a bullish divergence or a strong reversal candle. 🟩 Step 3: If triggered, size down. Only risk a fraction of standard capital on counter-trend trades. Set hard stops strictly below the low of the entry candle. CONCLUSION Spot Platinum (XPTUSD) is enduring a severe corrective phase following a historic multi-year rally. The asset has been aggressively distributed, resulting in exceptionally rare oversold momentum readings (RSI ~21) on both the Daily and Weekly charts. While the immediate structural trend remains highly bearish and warns against buying for long-term holds just yet, the short-term rubber band is stretched to an extreme limit. A sharp, tactical relief rally is highly probable to relieve this pressure. 🟨 Investors should remain patient and let the asset find a macro floor, while tactical traders should be on high alert to capitalize on an imminent mean-reversion bounce, provided they use strict risk management. 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 BHP Group (BHG) BHP Group: Actionable Areas Published Saturday 27 June for Monday 29 June. "Based on the Daily Chart for BHP Group Ltd (BHG) the reward-to-risk profile has deteriorated significantly following a sharp rejection at multi-month highs. The upside reward potential is currently low 🟥 because any reflexive bounce faces intense overhead supply from trapped buyers within the previous distribution top, turning prior support shelves into formidable ceilings. Conversely, the downside risk is elevated 🟥. The persistent cascading price action suggests that the path of least resistance has shifted firmly downward, leaving the asset vulnerable to deeper liquidation before discovering a durable short-term floor." If you are a short term trader, watch the overshoot of the rising 21-week EMA (~R620 to ~R644) as a tactical level to accumulate for an ultra short term rebound. Should the price continue to deteriorate around this level (i.e. if institutional investors do not step in as buyers, then a buy re-entry idea will be considered temporary invalid). 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 One year later and nearly 10,000 points higher. Consider moving your trading account to Unum Capital today. 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

+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 Vodacom Group (VOD) 💡Trade Setup: This Patten Looks Familiar Published Saturday 11 July, for the week commencing Monday 13 July. Vodacom Group (VOD) | Markets don't repeat but they do rhyme. The current technical structure on the share is similar that of one seen in previous month that led to a +16% gain over several weeks. While there is no guarantee that the same move will occur, it may be worth noting the improving candle structure with the consolidation range. Here, strong price action at or near the 15470c level would, combined with an increase in volume would trigger a buy/long trade, with a stop-loss below 14400c and a target of 17100c (+10.5% potential upside). 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 Sanlam Ltd (SLM) may be offering another opportunity to buy. Most recently (see further below), the share rallied +12% off our buy re-entry range and has since consolidated, retraced and rebounded again. A pullback toward the 8600c to 8700c range may offer an entry, with a stop-loss of ~8226c and a target of ~9700c. Previous Post (21 June): 🟩Sanlam: Sharp Rebound (+12%) vs Buy Re-Entry Range Sanlam Ltd (SLM) - the share traded into the middle of our buy re-entry range which was followed by a strong rebound. Previous Post (13 March): For our clients trading Sanlam Ltd (SLM). 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 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 being held by a trader while the probabilities are based on several factors which may include: short term rating, medium term regime, momentum, horizontal or diagonal support/resistance, candle structure, moving averages and standard deviation, among others. These are short term levels and may be in contrast to medium and long term outlooks which are based on the weekly and monthly charts and, which may be applicable to long term investors. These levels are subject to change based on sentiment, the subsequent price action and company/sector specific or macro news flow. As always, while the levels are outlined, traders should be prepared to adjust in real-time based on the aforementioned. "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 to a potential trading opportunity. This approach transforms the playbook into a dynamic scanning tool, allowing you to instantly categorize active stocks by the specific technical thesis playing out, ensuring that every trading potential opportunity communicated is backed by a predefined, actionable setup. 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 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 Provisional buy re-entry ~18200c to ~19400c. This is the swing support range and the overshoot of the 200-day SMA /50-week SMA. This range is subject to change as the news flow and price action develops. Previous Post (Monday 03 August):⚠️Early Warning, Now A Massive Sell-Off For This South African Share (-10% on Friday) Previous Post (21 July): 📝 Take Note...Bearish Engulfing Candle Sets Early Tone For Potential Bearish Reversal MTN Group: Yesterday's bearish engulfing candle is worth noting. Depending on todays intraday price action, it could signal the start of a short term bearish reversal. 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) Anyone latch onto this opportunity? I'd love to hear from you. Get in touch at lester@unum.co.za 🟩Take Profit on Sibanye Stillwater: Running +10% vs Buy Re-Entry Range Note as of Wednesday 22 July at 16h11. Previous Post (02 July): 🟩Take (Partial) Profit: Short Term Traders (Running 8%) ✔ Medium Term Traders: Hold For Potentially Higher Levels (Further Recovery) Sibanye Stillwater (SSW) - into the buy re-entry range and rebounding 8% (was higher earlier in the day). A note for medium term traders: hold but raise your stop-loss to protect capital. 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 The USDZAR currency pair broke out and traded at a high of R16.97, just shy of our 17.00 target. The pair has since retreated, with a re-test of the breakout level. Previous Post (14 July): USD/ZAR: Falling wedge pattern, target 17.00. 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 Tencent: Rebounding by +16% Previous Post (25 June): Tencent Holdings: Early Signs of Downward Momentum Slowing. Early signs of downward momentum slowing. Attempting to hold above the prior swing low. Previous Post (28 May):Tencent Holdings: Important For Naspers/Prosus Analyst Disclosure: This analysis was compiled using an artificial intelligence tool, with inputs based on the analyst's own data. STATUS OVERVIEW TECHNICAL CONDITION: 🟥 DEEP CORRECTION / SEVERE DOWNTREND CATEGORY: 🟥 BEARISH / MEAN-REVERSION WATCH TREND STATUS Daily Trend: 🟥 Steep Downtrend / Extremely Oversold Weekly Trend: 🟥 Aggressive Distribution / Capitulation Phase Monthly Trend: 🟥 Macro Consolidation / Bearish Momentum Primary Action: 🟨 Wait for Base / 🟩 Trade the Relief Bounce (High Risk) CORE THESIS: Severe Liquidation & Extreme Oversold Conditions Tencent Holdings (700) is currently enduring a brutal, synchronized sell-off. Following a massive recovery rally throughout 2024 and 2025 that brought the asset back near its 2021 all-time highs (~720+ HKD), it has suffered a relentless, six-month distribution phase. The asset has shed over 40% of its value from the 2025 peak, currently trading near the 420 HKD level. However, while the structural trend is decisively broken to the downside, the momentum profile is screaming exhaustion. With momentum at incredibly depressed levels across both daily and weekly timeframes, the selling pressure is mathematically unsustainable in the short term. The asset is likely in the final throes of capitulation. Shorting at these levels carries immense risk of a violent short-squeeze. The strategic focus must shift from trend-following to identifying a tactical mean-reversion (relief rally) setup. Verdict: 🟨 DO NOT CATCH THE FALLING KNIFE / 🟩 WATCH FOR REVERSAL CANDLES TO PLAY A TACTICAL BOUNCE / 🟥 DO NOT INITIATE NEW SHORTS. STRUCTURAL PROFILE (Based on Core Momentum Data) DAILY (Tactical): Short-Term Trend ➔ 🟥 SEVERE DOWNTREND WEEKLY (Intermediate): Structural Trend ➔ 🟥 DEEP CORRECTION MONTHLY (Secular): Macro Cycle ➔ 🟥 BEARISH CHOP Profile Alignment: The timeframe stack is highly destructive but universally overextended to the downside. The Monthly chart shows a volatile macro range (boom in 2021, bust in 2022, boom in 2025, bust in 2026). The Weekly chart dictates the current dominant structural move, which is a massive liquidation. The Daily chart confirms heavy, ongoing selling. The unifying theme across all three timeframes is extreme negative momentum, setting the stage for a counter-trend reaction. STRUCTURAL TIME FRAME ANALYSIS 🟥 Daily Momentum (The Tactical Engine): The Daily chart reveals a steep "waterfall" decline since late 2025. Price action is consistently printing lower lows and lower highs with virtually no meaningful relief rallies. However, downside momentum has reached extreme limits. Such deep oversold conditions historically precede sharp, sudden, and violent relief bounces as late shorts cover and bottom-fishers step in. 🟥 Weekly Liquidation (The Structural Driver): The Weekly chart highlights the severity of the rejection from the 2025 double-top. Downside momentum is historically extreme. It is exceedingly rare for an asset of Tencent's market capitalization to maintain this level of selling pressure without triggering at least a multi-week consolidation or mean-reversion rally to reset. 🟨 Monthly Volatility (The Secular Anchor): The Monthly chart zooms out to show extreme boom-and-bust cycles. After recovering brilliantly from the late-2022 lows (~190 HKD) to peak again in 2025, it is now unwinding that entire move. At ~420 HKD, it is approaching the midpoint of its macro multi-year range, which may offer psychological and structural support. INTERACTION VERDICT - Capitulation Watch: "You have a broken asset in a severe downtrend, but the rubber band is stretched to its absolute limit to the downside. The structural trend is your enemy right now, but the momentum extremes offer a tactical opportunity. 🟨 Patience is required. Wait for momentum divergence before attempting to buy." CATEGORIZATION & STRATEGY Daily Timeframe (Tactical) Primary Category: 🟥 WATERFALL DECLINE Impending Transition: 🟩 RELIEF RALLY / DEAD CAT BOUNCE Strategic Overlay: 🟨 WAIT FOR BULLISH DIVERGENCE Weekly Timeframe (Intermediate) Primary Category: 🟥 AGGRESSIVE DISTRIBUTION Impending Transition: 🟨 BASE BUILDING Strategic Overlay: 🟥 AVOID CORE LONG POSITIONS UNTIL TREND REVERSES Monthly Timeframe (Secular) Primary Category: 🟨 MACRO CONSOLIDATION RANGE Impending Transition: 🟥 APPROACHING RANGE SUPPORT Strategic Overlay: 🟨 REDUCE EXPOSURE / HEDGE STRATEGIC INTERPRETATIONS BY TIMEFRAME 🟩 TACTICAL (Next 1 to 3 Weeks): "The Daily chart is dangerously oversold. A relief rally of 10-15% is highly probable purely to reset momentum. Aggressive traders can look for a daily close that forms a reversal pattern (like a hammer or bullish engulfing) to play a quick bounce. Set extremely tight stops." Action: 🟩 Trade the Mean-Reversion (Low Size, High Alert) 🟨 INTERMEDIATE (Next 3 to 9 Months): "The Weekly chart is broken. Even if we get a tactical bounce, it will likely be sold into to form a lower high. Do not mistake a 3-week bounce for a new bull market. The asset needs months of sideways grinding to build a new base." Action: 🟨 Wait for a Weekly Base 🟨 SECULAR (Next 1 to 3 Years): "The Monthly chart shows Tencent trapped in a massive, multi-year volatile range. It is currently in the destructive phase of that cycle. Core investors should wait for the macro dust to settle closer to the 300-350 HKD level before accumulating long-term holds." Action: 🟨 Preserve Capital / Wait for Macro Support KEY RISKS TO THESIS 🟥 The Falling Knife (Continuation Risk) Scenario: The oversold conditions remain embedded. Instead of bouncing, the asset enters a capitulation cascade, dropping another 15-20% rapidly towards the 300 HKD level before any relief occurs. Impact: Bottom-fishers and early buyers get crushed. Strict stop-losses are mandatory if attempting to catch the bounce. 🟧 The Dead Cat Bounce (Trap) Scenario: The asset rallies sharply by 10-12% over a few days, convincing retail that the bottom is in. It hits declining moving averages on the Daily chart and immediately resumes the primary downtrend to make new lows. Impact: Requires tactical traders to take profits aggressively into the first sign of strength and not overstay their welcome. DECISION LOGIC Current State: "Waterfall Decline & Momentum Exhaustion" Question: Has the Daily chart printed a bullish reversal candle or momentum divergence? 🟩 Yes (Price makes a lower low, momentum makes a higher low) ➔ 🟩 EXECUTE TACTICAL BOUNCE TRADE 🟨 No, but holding steady (Price is chopping sideways) ➔ 🟨 WAIT AND MONITOR 🟥 No, price continues to plunge (Red candles closing on their lows) ➔ 🟥 STAND ASIDE. DO NOT BUY YET. PRICE PROJECTIONS: FORWARD MODELING 🟩 BULL CASE ("Mean Reversion Rally"): Target ~500-520 HKD | Probability: 45%The extreme oversold conditions trigger a short-covering rally. Price snaps back violently to re-test the previous breakdown levels on the Daily chart. This is a counter-trend bounce, not a new bull market. 🟧 BASE CASE ("Grinding Base"): Target ~380-450 HKD | Probability: 35%The aggressive selling stops, but buyers are weak. The asset chops sideways in a volatile range for several months to slowly work off the depressed momentum and build a foundation. 🟥 BEAR CASE ("Macro Capitulation"): Target ~320 HKD | Probability: 20%The 400 HKD psychological level breaks with volume. Panic selling ensues, driving the asset down to test the upper bounds of the 2022 macro crash levels before finding structural support. SCENARIO PLANNING 🟩 Trading the Bounce: If executing a mean-reversion trade, use the recent swing low as a hard stop. Your target should be the first major declining moving average (e.g., the 20-day or 50-day EMA). Take profits quickly. 🟥 Respecting the Structural Trend: Remember that the higher timeframes (Weekly, Monthly) are pointing straight down. Any long position right now is swimming against a very strong current. EXECUTION PROTOCOL PRIMARY: 🟨 Stand aside for long-term holds, 🟩 Trade tactical bounces with tight risk management. 🟥 Step 1: Do not initiate any new short positions. The risk-to-reward ratio is terrible down here due to the threat of a short-squeeze. 🟨 Step 2: For tactical longs, wait for daily momentum to tick upward accompanied by a green, high-volume reversal candle. 🟩 Step 3: If triggered, size down. Only risk a fraction of standard capital on counter-trend trades. Set hard stops strictly below the capitulation wick. CONCLUSION Tencent Holdings (700) is currently technically broken but severely overextended. The asset has been heavily distributed over the last six months, resulting in exceptionally rare oversold momentum readings on the Daily and Weekly charts. While the structural trend remains hostile and warns against buying for long-term holds, the short-term rubber band is stretched to the point where a sharp, tactical relief rally is highly probable. 🟨 Investors should exercise extreme caution, avoiding the temptation to catch the falling knife, while tactical traders can prepare to capitalize on an imminent mean-reversion bounce. 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 Published: Monday, 03 August at 20h31 (South African Time / US Trading Session). The iShares Defense Industrials Active ETF seeks to maximize total return through actively managed exposure to companies that fund management believes are well-positioned to benefit from global defense and security spending. The fund offers a way to pursue potential growth and resilience through aerospace, cybersecurity, and infrastructure firms. Buy at current levels ($33.12) or lower (potential for further consolidation before a bullish reversal). Stop-loss: $30.20 Target: $38.00 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 Amazon Inc (AMZN) AmazonRoom To Run: Offshore Stock Pick - Monday, 23 September 2024 Key Drivers At the forefront of global innovation Analysts are forecasting substantial free cash flow in the years ahead A driven founder/management team with significant interests (shareholding) Sector disruptor Technically: a 4-year consolidation, with strong price action at the top of it's range and potential to break out to new highs. WEEKLY CHART Lester Davids Senior Investment Analyst: Unum Capital