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Research Notes For 26 to 30 May > https://www.unum.capital/post/r2630may Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za The 50-day EMA is losing downside momentum. Reclaiming the 50-EMA + clearing the downward trend line resistance opens up a path back toward the 200-day SMA. Fundamentally, the Copper bull case (supply shortage) remains in tact. Analyst Disclosure: The summary below (based on the price action guide above), has been written with an A.I tool. Summary The overall setup for Glencore PLC appears to be mildly bullish to neutral with a potential for bullish development . In the short term (1-10 trading days) , the analysis indicates that Glencore PLC is "Attempting A Bullish Reversal Following A Consolidation Phase." This suggests that after a period of sideways movement, there is an emerging upward momentum being observed. This points to a potential for a bullish move in the near term. Looking at the medium term (next 2 to 4 weeks) , the expectation is that Glencore PLC is "Attempting A Rebound Following A Downward Trend May Consolidate Further Before Continuing Higher." This implies that while there might have been a recent downtrend, the analysis anticipates a recovery. The mention of potential further consolidation suggests a cautious optimism, indicating a possible pause before a more sustained upward movement. In the long term (next 5 to 8 weeks) , the outlook is "Range-Bound In A Weak Regime - Recovery Buy/Long Is Triggered On Strong Bids And Break of Current Range High." This suggests that the price is currently confined within a certain range. However, the strategy outlined indicates a bullish bias, with buy or long positions being considered upon the appearance of strong buying interest or a breakout above the current range's upper limit. Summary:  While the 7-day and 14-day trends are currently neutral and range-bound respectively, the analysis across the short, medium, and long term shows a leaning towards potential bullish developments. The short term highlights an attempted bullish reversal, the medium term anticipates a rebound, and the long term suggests a bullish entry point upon specific conditions being met. Therefore, the overall tone is cautiously optimistic with a bullish tilt. Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 26 to 30 May > https://www.unum.capital/post/r2630may Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za The following is an analysis of the JSE sectors based on the provided table, considering the short term has the most weight, followed by medium term, then long term. Sector Analysis: Technology VS TOP 40:  Weak (Short Term) > Neutral (Medium Term) > Strong (Long Term) - Deterioration. Miners VS TOP 40:  Neutral (Short Term) > Weak (Medium Term) > High Bearish Momentum / Approaching Oversold (Long Term) - Deterioration. Banks VS TOP 40:  Weak (Short Term) > Neutral (Medium Term) > Neutral (Long Term) - Deterioration. Insurers VS TOP 40:  Weak (Short Term) > Neutral (Medium Term) > Neutral (Long Term) - Deterioration. Gold Miners VS TOP 40:  Strong (Short Term) > Neutral (Medium Term) > Strong (Long Term) - Improvement. Platinum Miners VS TOP 40:  Overbought (Short Term) > Strong (Medium Term) > Neutral (Long Term) - Improvement. Consumer Staples VS TOP 40:  Strong (Short Term) > Neutral (Medium Term) > Neutral (Long Term) - Improvement. Consumer Disc. VS TOP 40:  Weak (Short Term) > Neutral (Medium Term) > Neutral (Long Term) - Deterioration. Healthcare VS TOP 40:  Strong (Short Term) > Neutral (Medium Term) > Neutral (Long Term) - Improvement. Hospitals VS TOP 40:  Weak (Short Term) > Neutral (Medium Term) > Neutral (Long Term) - Deterioration. Coal Miners VS TOP 40:  Weak (Short Term) > Oversold (Medium Term) > High Bearish Momentum / Approaching Oversold (Long Term) - Mixed. Telecoms VS TOP 40:  Neutral (Short Term) > Strong (Medium Term) > Strong (Long Term) - Mixed. Paper & Pulp VS TOP 40:  Weak (Short Term) > Weak (Medium Term) > Oversold (Long Term) - Mixed. Chemicals VS TOP 40:  Strong (Short Term) > Strong (Medium Term) > High Bearish Momentum / Approaching Oversold (Long Term) - Mixed. Luxury Goods VS TOP 40:  Neutral (Short Term) > Neutral (Medium Term) > Neutral (Long Term) - Neutral. Summary Ranking of Sectors (Preference based on weighted timeframes): Platinum Miners VS TOP 40 (Short Term: Overbought) Healthcare VS TOP 40 (Short Term: Strong) Consumer Staples VS TOP 40 (Short Term: Strong) Gold Miners VS TOP 40 (Short Term: Strong) Chemicals VS TOP 40 (Short Term: Strong, Medium Term: Strong) Telecoms VS TOP 40 (Short Term: Neutral, Medium Term: Strong, Long Term: Strong) Luxury Goods VS TOP 40 (Neutral across all terms) Banks VS TOP 40 (Short Term: Weak, Medium Term: Neutral, Long Term: Neutral) Insurers VS TOP 40 (Short Term: Weak, Medium Term: Neutral, Long Term: Neutral) Consumer Disc. VS TOP 40 (Short Term: Weak, Medium Term: Neutral, Long Term: Neutral) Hospitals VS TOP 40 (Short Term: Weak, Medium Term: Neutral, Long Term: Neutral) Technology VS TOP 40 (Short Term: Weak, Medium Term: Neutral, Long Term: Strong) Paper & Pulp VS TOP 40 (Short Term: Weak, Medium Term: Weak, Long Term: Oversold) Coal Miners VS TOP 40 (Short Term: Weak, Medium Term: Oversold, Long Term: High Bearish Momentum / Approaching Oversold) Miners VS TOP 40 (Short Term: Neutral, Medium Term: Weak, Long Term: High Bearish Momentum / Approaching Oversold) Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 26 to 30 May > https://www.unum.capital/post/r2630may Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Click on the image to enlarge. Readings as of the close of trade on Friday 23 May. These are subject to change as the price action develops. Short Term (approximately 1 to 10 days) Medium Term (approximately 2 to 4 weeks) Long Term (approximately 5 to 8 weeks) Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 19 to 23 May > https://www.unum.capital/post/r1923may Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Updated chart as of Friday, 23 May at 10h18 (South African Time): This is a great example of a reading we don't often discuss: the bullish reversal trade! A +5.5% gain from around Monday's lows (now +7% as of 11h03) Some decent cash flow for the active trader. The time-stamped model reading is shown below Previous Post (Monday 19 May): Trading Anglo American Plc Current Price Action Model Reading: Current Daily Chart Lester Davids Senior Investment Analyst: Unum Capital

DID YOU KNOW? Year-to-date, we have published over 900 research notes. If you've been a consumer of our research but have not traded via the Unum Capital trading desk, why not consider making us your trading services provider? To open a trading account and/or move from your existing service provider, email   tradingdesk@unum.co.za Free Trading Anglo American Plc https://www.unum.capital/post/anglocash Free Trading Northam Plat: Long, Short & Long Again https://www.unum.capital/post/noplatn Free Market Risk Index: Current Sentiment https://www.unum.capital/post/riskevolve Free +60 Shares Commentary (incl. AMS, DSY & TGA) https://www.unum.capital/post/sxtyams Free Trading Kumba Iron Ore https://www.unum.capital/post/kiosetup Premium  Let's Make A Trade: Sasol https://www.unum.capital/post/solnext Free Trading Pepkor https://www.unum.capital/post/tradipph Free +60 Shares Commentary (incl. ABG, GFI & PRX) https://www.unum.capital/post/sxtyabg Free US10Y Bond: 4.6% + Bull Flag Played Out https://www.unum.capital/post/yieldbull Free Capitec, Ninety One & Sanlam Lead https://www.unum.capital/post/pscreen Free Technical Screen: 7 Shares/Short Term Overbought https://www.unum.capital/post/tsobt Free Copper Futures https://www.unum.capital/post/hgbull Free Global X Silver Miners ETF https://www.unum.capital/post/silxetf Free Trading Northam Platinum https://www.unum.capital/post/norun Free Trading Platinum (XPT/USD) https://www.unum.capital/post/xptmonth Free Trading Sibanye Stillwater https://www.unum.capital/post/sswsvty Free +60 Shares Commentary (incl. CPI, EXX & NPN) https://www.unum.capital/post/sixtycpi Free Old Mutual: Model Short Setup Underway https://www.unum.capital/post/omutrade Free Trading Sasol https://www.unum.capital/post/soleighty Free  Strategy Alert: Momentum Group https://www.unum.capital/post/strmntm Premium Let's Make A Trade https://www.unum.capital/post/makea Free U. S Market Sector Breadth https://www.unum.capital/post/brdthtw Free Market Risk Index: How Is Sentiment Evolving? https://www.unum.capital/post/mriski Free Trading Northam Platinum https://www.unum.capital/post/norplat Free Global Idea: iShares MSCI Netherlands ETF https://www.unum.capital/post/tradewn Free Ninety One: Actionable Areas https://www.unum.capital/post/nyone Free JSE Top 40 Index: 85,000 & Indecision Near ATHs https://www.unum.capital/post/eightyfive Free +60 Shares Commentary (incl. TFG, KIO & NTC) https://www.unum.capital/post/cmntfg Free Managing Risk & Uncovering Opportunity: B.A Tobacco https://www.unum.capital/post/tobaccopp Free Trading OUTsurance: Short Sellers Generating Cash https://www.unum.capital/post/outsurecash Free Trading Naspers https://www.unum.capital/post/nsprspb Free Trading Prosus https://www.unum.capital/post/prosuspback Free Trading Nvidia: Short Term Overbought + Current Model https://www.unum.capital/post/tradenvda Free Trading Anglo American Plc https://www.unum.capital/post/angloplc Free Trading Spot Gold https://www.unum.capital/post/sptxau Free Trading S&P 500 Index https://www.unum.capital/post/usfiveh Free +60 Shares Commentary (incl. AVI, QLT & PIK)   https://www.unum.capital/post/sixtypik Free Breadth: Interpretation of Market Conditions   https://www.unum.capital/post/brdchnge Free Market Risk Index https://www.unum.capital/post/mrskindex Free JSE Top 40 Index Short Term Cycle https://www.unum.capital/post/tforty Free JSE Relative Sector Ratings https://www.unum.capital/post/sctrreview Free JSE Regime Trend https://www.unum.capital/post/frtyregime Free Trading Momentum-Metropolitan https://www.unum.capital/post/mtmrall Free JSE Gold Miners: Relative Unwind (-23%) https://www.unum.capital/post/gminerelative Free Trading ANG, GFI & HAR https://www.unum.capital/post/gldmnrs Free Sector In Focus: Banks https://www.unum.capital/post/focusbanks Missed Last Week's Research; 12 - 16 May? Catch Up Below Richemont: Short/Long; Gap Filled & Rebound +20% https://www.unum.capital/post/richrbnd Trading Clicks https://www.unum.capital/post/clsreversal These 3 Shares Closed In Oversold Territory https://www.unum.capital/post/threeovb +60 Shares Commentary (incl. APN, EXX & MNP) https://www.unum.capital/post/sixtyapn Market Risk Index: Daily & Weekly https://www.unum.capital/post/riskdw USD/ZAR: Reward-To-Risk Becoming... https://www.unum.capital/post/randlong How Cool Is This? https://www.unum.capital/post/omucool Trading OUTsurance https://www.unum.capital/post/outbear Trading Spot Gold (XAU/USD) https://www.unum.capital/post/xauthree +60 Shares Commentary (incl. ANH, CFR & SBK) https://www.unum.capital/post/sxtyanh US10Y: Rebound In Yield In Line With Model Reading https://www.unum.capital/post/yieldrbnd Prosus: Running +34%, However Now In Overbought Range https://www.unum.capital/post/prxwinner European Financials ETF: Running +23% https://www.unum.capital/post/eufinetf Update: Brazil Equities ETF, Running +19.8% https://www.unum.capital/post/brally Short Term Traders, Caution on Naspers https://www.unum.capital/post/naspmodel Sasol: Here's What The Data Says https://www.unum.capital/post/httsol Nasdaq / US 100 Index: Short Term Overbought Range https://www.unum.capital/post/usonehun Trading Spot Platinum https://www.unum.capital/post/spotxpt Top 40 Index: Update + Current Model Reading https://www.unum.capital/post/twentyone Spot Silver: Analysis of Price Action https://www.unum.capital/post/xagspot Trading UBER Technologies https://www.unum.capital/post/uberally +60 Shares Commentary (incl. TFG, MTN & OUT) https://www.unum.capital/post/sxtytfg African Rainbow: Using Data To Recognize (& Assess) Risk https://www.unum.capital/post/rainbowrisk Market Risk Index: Current Sentiment Reading https://www.unum.capital/post/mktrsk Trading Glencore https://www.unum.capital/post/glnupdt Trading South 32 https://www.unum.capital/post/sthirty Spot Gold: $200 Decline + In Line With Model Reading https://www.unum.capital/post/goldtwo Pepkor's Power Move. Now Running 26% https://www.unum.capital/post/pphpower Mondi Plc: Three-Day Rebound From Buy Zone https://www.unum.capital/post/mnprbnd Breadth: Interpretation of Market Conditions https://www.unum.capital/post/inbreadth FirstRand Running 28%: Where To From Here? https://www.unum.capital/post/fsrunning +60 Shares Commentary (incl. ABG, CLS & GRT) https://www.unum.capital/post/sxtycmnts Russell 3K: +18% Rally Following 'Washed-Out' Breadth Readings https://www.unum.capital/post/r3krally S&P 500: Overshoots 200d / Resistance In Focus https://www.unum.capital/post/spfivetw DAX Index: Short Term Overbought; Early Sellers Emerging https://www.unum.capital/post/daxovbo Top 40: +20% Rally = Cash Flow For Active Traders https://www.unum.capital/post/frtyrally Trading US Dollar Index https://www.unum.capital/post/dllrbnd Trading Prosus (PRX) https://www.unum.capital/post/prxtwight Generating Cash: AngloGold / Gold Fields / Harmony https://www.unum.capital/post/genang +60 Shares Commentary (incl. ARI, N91 & SSW) https://www.unum.capital/post/sixtycomments Full Report: The Sum of the Charts (Coverage Below) https://www.unum.capital/post/sotc1205 Market Risk Index JSE Top 40 Index Short Term Cycle JSE Relative Sector Ratings Market Breadth: Opportunity vs Risk JSE Market Breadth JSE Regime Trend S&P Regime Trend EUR/USD: Update Actionable Areas: Naspers Actionable Areas: Richemont Actionable Areas: British American Tobacco Actionable Areas: Prosus Actionable Areas: Glencore Actionable Areas: Anglo American Plc Actionable Areas: Anglogold Ashanti Actionable Areas: Firstrand Group Update: Spot Gold (XAU/USD) JSE Technical Summary Seclected Currencies: Regimes Seclected Commodities: Regimes Sector In Focus: Food Retailers Recent Opportunities: Bid Corp Recent Opportunities: Tiger Brands Lester Davids Senior Investment Analyst: Unum Capital Archive/Year-To-Date Research Links 12 May to 16 May https://www.unum.capital/post/research-12-16-may-2025 05 May to 09 May https://www.unum.capital/post/research-05-09-may-2025 28 April to 02 May https://www.unum.capital/post/research-28-april-02-may-2025 21 April to 25 April https://www.unum.capital/post/212504 14 April to 18 April https://www.unum.capital/post/research-14-18-april-2025 07 April to 11 April https://www.unum.capital/post/research-07-11-april-2025 31 March to 04 April https://www.unum.capital/post/research-31-march-04-april-2025 24 March to 28 March https://www.unum.capital/post/research-24-28-march-2025 17 March to 21 March https://www.unum.capital/post/research-17-21-march-2025 10 March to 14 March https://www.unum.capital/post/research-10-14-march-2025 02 January to 07 March https://www.unum.capital/post/latest-research-january-2025

Research Notes For 19 to 23 May > https://www.unum.capital/post/r1923may Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za UPDATE (Friday 23 May): This week, Northam Platinum reached a multi-month high of 16187c. One of our previous notes (18 January, see below) highlighted how automated insights helped to identify opportunities on both the buy and sell side. Previous Post (18 January): Automated Insights: Northam Platinum As An Example Technology + Proprietary Insights has helped to develop automated tools and strategies that   are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This page highlights readings from the analyst's Tactical Trading Guide (Price Action Tool) . The tool provides automated price analysis of over 90 JSE-listed equities across 17 sectors and across 3 time frames : short (short term), medium (medium term) and long (long term). Readings are subject to change , based on the development of the subsequent price action. You may be asking: 'Why are we looking back?' My Answer: "To determine whether the system provided traders with the ' RIGHT SIGNAL ' at the ' RIGHT TIME '. No model or system of automation in the financial markets, anywhere in the world works 100% of the time, and neither does this one . It may however help to improve an existing process for a market participants who require timely, non-biased insights. Below, I provide recent an ACTUAL and REAL-TIME example of the readings (Northam Platinum), all of which are time-stamped as proof. Northam Platinum Opportunity Number 1 Friday 13 December (just before it started to form a base). Model Reading "Reward-To-Risk Becoming Attractive For Small Long Position" Subsequently, a base from R96 to R100, followed by a rally R114.   Below is the time-stamped reading. Marked number 1 on the chart Northam Platinum Opportunity Number 2 Thursday 24 October (just before it started to peak).   Model Reading "Extremely Overbought..." Subsequently, it peaked around R145, followed by a rapid decline to below R100. Below is the time-stamped reading. Marked number 2 on the chart Northam Platinum Opportunity Number 3 Monday 09 September (just before it developed a bullish reverse).  Model Reading "Has been sold aggressively. Look for a continued decline before a minor rebound..." Subsequently, the share printed two doji candles (not a major decline from the reading), then rallied from R90 to R145. Below is the time-stamped reading. Marked number 3 on the chart Other real-time examples include: BTI: https://www.unum.capital/post/opportunities-reward-to-risk Gold Shares: https://www.unum.capital/post/3-factors-gold-shares IMP: https://www.unum.capital/post/analysis-from-the-tactical-trading-guide-impala-platinum-as-an-example-friday-13-september-2024 ABG: https://www.unum.capital/post/let-the-data-speak-absa-and-capitec-bank-as-real-time-examples-thursday-27-june-2024 DSY: https://www.unum.capital/post/recognizing-opportunity-and-managing-risk-dsy-as-an-example Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 19 to 23 May > https://www.unum.capital/post/r1923may Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Chart as of Thursday, 22 May at 21h00 (South African Time / U.S. Trading Session) Previous Post (Sunday, 18 May): SHORT TERM: Daily Time Frame (as of the close of trade on Friday, 16 May). MEDIUM TERM: Weekly Time Frame (as of the close of trade on Friday, 16 May). Previous Post (09 April): Market Risk Index: The Weekly Reading Is Worth Noting! *Weekly Time Frame* - Current *Monthly Time Frame* - Current The indicator is a custom-built risk and sentiment index, designed to assess market risk appetite, including whether sentiment is at an extreme position (i.e. excessively bullish or excessively bearish). Components: Copper: Copper often serves as a proxy for global economic activity. A decline in copper prices could signal slowing economic growth, increasing risk. High Beta vs Low Beta: High beta stocks tend to be more volatile than low beta stocks. A widening spread between high and low beta returns might indicate increased risk aversion. Growth vs Value: Growth stocks typically outperform value stocks in bull markets. A shift towards value stocks could suggest investors are becoming more cautious. EM Currencies: Emerging market currencies can be sensitive to risk appetite. A weakening of EM currencies could signal increased risk aversion. AUD/USD: The Australian Dollar is often used as a proxy for global risk sentiment. A decline in AUD/USD could indicate increased risk aversion. Consumer Staples vs Consumer Discretionary: Consumer staples are generally considered defensive assets. A shift towards consumer staples could suggest investors are seeking safety. Semiconductors vs S&P 500: The semiconductor sector is cyclical and sensitive to economic downturns. Underperformance of semiconductors relative to the broader market could signal increased risk. Russell 2000 ETF: This ETF tracks small-cap stocks, which are generally considered riskier than large-cap stocks. Underperformance of the Russell 2000 could suggest increased risk aversion. U.S. Dollar Index (Inverse): A strengthening US Dollar often signals a flight to safety, suggesting increased risk aversion.

Research Notes For 19 to 23 May > https://www.unum.capital/post/r1923may Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Click on the image to enlarge. Readings as of the close of trade on Thursday 22 May. These are subject to change as the price action develops. Short Term (approximately 1 to 10 days) Medium Term (approximately 2 to 4 weeks) Long Term (approximately 5 to 8 weeks) Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 19 to 23 May > https://www.unum.capital/post/r1923may Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za The share has rebounded from it's recent lows of R255 to a high of R333 which has been followed by a consolidation phase. While lower levels are possible, traders should remain alert for a potential change of character which could help trigger a bull flag technical formation. Here, a break of the short term downward trending channel (with strong candle structure and volume) would be an early indication of renewed buying interest. An immediate break of 31430c to 31792c would open the way for 34800c (1st target) followed by 37100c (2nd target). Stop-loss: TBD. Should we see lower levels from the last close, new triggers will be formed. Previous Post (23 January): Kumba Iron Ore: Declining Close To R20 (R368 to R349) Update on previous post where I discussed the extension vs VWAP https://www.unum.capital/post/kio-extended-vwap Updated chart below. Previous Post: Kumba Iron Ore: Technically Extended vs YTD Anchored VWAP (Short Term/Active Traders Consider Reducing) KIO was recently featured as a bullish opportunity (07-January) at around R325. It has since rallied to above R370. Original Post Here: https://www.unum.capital/post/200d-tbs-out-more Analyst's Price Action Model Lester Davids Analyst: Unum Capital

Research Notes For 19 to 23 May > https://www.unum.capital/post/r1923may Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za This is a premium post. DID YOU KNOW? Year-to-date, we have published over 900 research notes. If you've been a consumer of our research but have not traded via the Unum Capital trading desk, why not consider making us your trading services provider? To open a trading account and/or move from your existing service provider, email   tradingdesk@unum.co.za   In exchange for the provisional levels, we would love to have a few minutes of your time to explain our services. Specifically, if you are: New to financial markets and looking to start your trading journey. An experienced trader, but looking to elevate your trading. Interested in an ACTIVE TRADING approach. Interested in a high quality, award-winning research. Interested in insights that informs and identifies both risks and opportunities. Should you you fit into any of the above categories, we would love a few minutes of your time to be able to further explain why you should consider Unum Capital your trading partner. To access, e-mail your name and contact details to   lester@unum.co.za    To open a trading account, e-mail   lester@unum.co.za    Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 19 to 23 May > https://www.unum.capital/post/r1923may Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Pepkor's short-term momentum has waned, with the share price retreating against overhead resistance. The recent candle structure suggests short-term distribution. However, the long-term outlook remains supported as the share price is still trading above its rising 200-day simple moving average. In the short term, the price has lost it's 8-day EMA which is turning lower while the 21-day EMA has also started to flatten out. A retracement to the 50 to 61.8% Fibonacci level is not out of the question, which would be a potential re-accumulation range while on the sell side, the prior swing high (just above 3000c) would be a first (provisional) next-best level of selling interest. Note: Event Risk in the form of earnings on or around 27 May. Previous Post (13 May): Pepkor's Power Move! Now Running +26% The motivation behind the Tactical Trading Guide ( price action model ) was to systematically uncover opportunities and assess reward-to-risk, saving time in the process! In essence, the model is the analyst's thought process, on paper. Here, clients have access  to a process that has help to guide traders in order to generate cash and which has helped to manage risk. PEPKOR is one of those names where the model stated: (1) "Aggressive selling recently, however the buy/long reward-to-risk may be attractive" and (2) "Has been sold aggressively. Look for a continued dip/decline before a minor rebound". Scroll down to view the reading for the close of business on Friday 04 April. On Monday 07 April, traders had the opportunity to accumulate, which was followed by a 26% rally (multi-week highs seen yesterday, Monday 12 May). The current price action model reading + the updated chart is as follows: Previous Post (Saturday, 05 April): Price Action Commentary: Short & Medium Term Click on the image to enlarge. Readings as of the close of trade on Friday 04 April. These are subject to change as the price action develops. Short Term (approximately 1 to 10 days) Medium Term (approximately 2 to 4 weeks) Technology + Proprietary Insights has helped to develop automated tools and strategies that are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This page highlights readings from the analyst's Tactical Trading Guide (Price Action Tool) . The tool provides automated price analysis of over 90 JSE-listed equities across 17 sectors and across 3 time frames : short (short term), medium (medium term) and long (long term). Readings are subject to change , based on the development of the subsequent price action. SHOULD YOU URGENTLY REQUIRE A READING FOR THE LONG TERM, YOU ARE WELCOME TO E-MAIL ME AT LESTER@UNUM.CO.ZA Lester Davids Analyst: Unum Capital (Data as of end of day Friday 28 March 2025)

Research Notes For 19 to 23 May > https://www.unum.capital/post/r1923may Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Click on the image to enlarge. Readings as of the close of trade on Wednesday 21 May. These are subject to change as the price action develops. Short Term (approximately 1 to 10 days) Medium Term (approximately 2 to 4 weeks) Long Term (approximately 5 to 8 weeks) Lester Davids Senior Investment Analyst: Unum Capital