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Trade   Capitec Bank   with Unum Capital. To get started, email   lester@unum.co.za Update: Deeply ultra short term oversold conditions have lead to buying interest and a rebound from Monday's low around R2710. At current levels, the share is trade below it's declining 8-day exponential moving average which is a first potential resistance range. Bear in mind that the price has the ability to overshoot this level on the upside therefore the buy re-entry range is shown slightly above the declining 8-day EMA. Above that the declining 21-EMA could stand in the way of a further advance. For now, buy re-entry levels are considered at much lower levels. CPI Daily Chart as of Tuesday 08 April at 13h37 Previous Post (Thursday 03 April): Trading Capitec Bank: For Shorts, A 16% Decline The move is in line with the price action model at the time, which warned traders to avoid chasing and looked for a potential failure to hold the prior session/range highs. Most recently we also discussed CPI in the note: 2 Risk, 2 Opportunities. The link is as follows: https://www.unum.capital/post/cpi-two The current chart, reflecting a 16% decline from the last note is shown below. Previous Post (Thursday 27 March) Trading Note: Capitec Bank Lester Davids Analyst: Unum Capital

Trade JSE Shares  with Unum Capital. To get started, email lester@unum.co.za Over the weekend we published Friday's end of day price action readings / tactical trading guide. A quick question...did you notice how many shares were deeply oversold and were giving us buy readings? Also, did you notice how many shares traded further into oversold and then rebounded sharply? So much red , so many opportunities to generate cash flow... Did you capitalize on any of the opportunities provided? Connect with me here: lester@unum.co.za 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)

Trade   JSE Shares   with Unum Capital. To get started, email   lester@unum.co.za South 32 Zooming In on the 2-day candle structure which reflects early buying interest out of a deeply oversold range. Price Action Model Reading South 32 (S32) | Zooming out, highlighting the share trading at/near a long term inflection point.

Trade   Silver   with Unum Capital. To get started, email   lester@unum.co.za The initial reading for the price action model reading on 13 March showed the commodity approaching overbought conditions. The recent sell-off and unwind is confirmation of the reading which warned traders that aggressive buying was underway and that they should not chase. The price action model reading on April 8 at 06h37 indicates a bearish sentiment across all timeframes (7-day, 14-day, medium-term, and long-term). However, it also highlights the possibility of short-term oversold conditions leading to potential buying opportunities on pullbacks for short-term traders. For medium and long-term perspectives, the advice remains to look for selling opportunities , with the medium-term suggesting waiting for stabilization on lower timeframes and the long-term focusing on selling after minor upward corrections at prior support levels. In the previous note on Silver, our comments were as follows: " The overall trend for Spot Silver is bullish, with both short-term and long-term indicators pointing upwards. However, the 7-day trend shows high bullish momentum approaching overbought conditions, suggesting a potential short-term pullback. The short-term strategy is to be cautious with buying, watch for failures to hold highs, and consider shorting if the price drops below the 8-EMA. The medium-term strategy involves waiting for an overshoot or failure to hold prior session range highs before shorting back to the 8-EMA. The long-term trend remains strongly bullish, indicating continued upward momentum over the next 5 to 8 weeks." The current price action model reading is as follows: Summary: For the short term (1 to 10 days), the strategy suggests that while the trend is upward, it's weakening, potentially offering both buy and sell opportunities around the 8, 21, or 50-day EMA. In the medium term (2 to 4 weeks), the strategy indicates a slowing bullish momentum, with potential buy opportunities on the 8, 21, or 50-day EMA as a rebound. Looking at the long term (5 to 8 weeks), the strategy suggests an upward trend is either in progress or beginning, but also cautions about the potential for failure to hold prior session range highs, which could create a tactical short-sell opportunity. Previous Post: Trading Spot Silver: Analysis of Price Action Q: What is the overall trend? A: The overall trend is bullish. Q: What is the current 7-day trend? A: The current 7-day trend is high bullish momentum, approaching overbought. Q: What is the current 14-day trend? A: The current 14-day trend is very bullish. Q: Is there any opportunity for a short-term buy/long position? A: The information suggests caution with buying/long positions due to the overbought conditions and potential for failure to hold highs. Q: Is there any opportunity for a short-term sell/short position? A: Yes, there is a potential short-term sell/short position opportunity if the attempt to hold the highs fails, and the price doesn't hold above the 8-EMA. Q: What is the current position & trend for the short term (1 to 10 days)? A: The short-term position is a very strong move with buyers in control, but it's approaching overbought levels, suggesting potential for a pullback. Q: What is the current position & trend for the medium term (2 to 4 weeks)? A: The medium-term position is an aggressive buying trend, but a strategy is to wait for an overshoot or failure to hold prior session range highs to short back to the 8-EMA. Q: What is the current position & trend for the long term (5 to 8 weeks)? A: The long-term position has resumed a bull move in a strong upward trend. The overall trend for Spot Silver is bullish, with both short-term and long-term indicators pointing upwards. However, the 7-day trend shows high bullish momentum approaching overbought conditions, suggesting a potential short-term pullback. The short-term strategy is to be cautious with buying, watch for failures to hold highs, and consider shorting if the price drops below the 8-EMA. The medium-term strategy involves waiting for an overshoot or failure to hold prior session range highs before shorting back to the 8-EMA. The long-term trend remains strongly bullish, indicating continued upward momentum over the next 5 to 8 weeks. Lester Davids Analyst: Unum Capital

Trade   JSE Shares   with Unum Capital. To get started, email   lester@unum.co.za Well done to traders who may have capitalized on the price action model reading. Remgro Daily Chart as of the close on Tuesday 08 April at 05h57 + Price Action Model Reading As Highlighted In Previous Note. Previous Post (Tuesday, 25 March at 20h35): Remgro is Running: Well Done, Traders Our manual and automated buy readings are seeing follow-through. As is mostly the case, strong sell-off tend to generate buy readings. This was the case on 23 January when the end of day reading stated that the reward-to-risk is becoming attractive for a buy. The updated chart + time stamped model reading is shown below: Price Action Model Reading as of today's close. (Previous Post: 12 August) - Strategy Alert Real-Time: 15h45 Ticker: REM Lester Davids Analyst: Unum Capital

Trade   Gold   with Unum Capital. To get started, email   lester@unum.co.za The commodity traded slightly higher but has started to retreat from the ultra long term trend line resistance. Spot Gold Daily Chart as of Monday 07 April at 22h52 Previous Post (Friday 28 March at 22h11): Gold: Long Term Inflection Point No, we are calling the top, however it may be worth noting that the commodity is trading around key inflection point. A picture paints.... Lester Davids Analyst: Unum Capital

Trade the Top 40 Index with Unum Capital. To get started, email lester@unum.co.za The index close well off the lows of the day, with the oversold conditions as of Friday's close unwinding. We also saw the index rebound sharply off the channel support, as highlighted in the previous note (scroll down to view). Our nearest, next-best probability price action as per the price action model was to buy on a pullback. Today's move was in line with this view as the index traded lower before rebounding sharply. JSE Top 40 Index Daily Chart as of Monday 07 April at 22h07 Previous Post (Saturday 05 April at 14h37) : JSE Top 40 Index: Weekly Chart Analysis JSE Top 40 Index Analysis: Short Term (1 to 10 days):   The short-term reading is Oversold . This suggests that the index has likely experienced a significant decline and may be due for a rebound or consolidation. However, being oversold alone doesn't guarantee an immediate reversal. Medium Term (2 to 4 weeks):  The medium-term reading is Weak . This implies that the index has been trending downwards over the past few weeks, indicating underlying selling pressure . Long Term (5 to 8 weeks):  The long-term reading is Neutral . This suggests that over a broader timeframe, the index hasn't established a clear upward or downward trend. Overall Assessment: Taking into account the weighted importance (short-term being the most significant), the JSE Top 40 Index exhibits deteriorating  price action. While the oversold reading in the short term might offer a temporary bounce, the weakness in the medium term, coupled with the lack of a strong long-term trend, suggests caution. The recent price action is more aligned with the medium-term weakness than the potential for a short-term recovery. JSE TOP 40 WEEKLY CHART Lester Davids Analyst: Unum Capital

Trade   JSE Shares   with Unum Capital. To get started, email   lester@unum.co.za Over the weekend we published the end of week breadth data, highlighted the overwhelming number of shares which were trading in oversold territory. The data covers all shares with a market cap above R10bn. As you may have read, out of the 98, 40 was oversold, which is a rarity! As per our comment, the interpretation of the data was as follows: "The data suggests that the market is heavily skewed towards oversold conditions. This widespread oversold reading may point towards a potential near-term buying opportunity as the large number of stocks at these levels could be poised for a rebound. However, the lack of strong bullish momentum and the prevalence of bearish readings indicates that any potential recovery may be short-lived or met with resistance. In essence, the market is currently overwhelmingly bearish, with a possible short-term opportunity arising from the oversold conditions, but caution is advised due to the overall weakness." Today (Monday, 07 April) saw several shares trade lower early in the session, which was followed by strong rebounds on an intraday basis. As of today's close, only 19 shares trade in oversold territory versus the 40 after last week Friday's close. There were pockets to play in which created cash-generating opportunities for traders who took advantage of the oversold conditions. Well done if you made some money today! Previous Post (Saturday, 05 April at 06h20): JSE Market Breadth: After The Close Market Summary: The JSE Mid & Large Caps market, as indicated by the short-term trend readings of its 98 constituents, exhibits a predominantly bearish sentiment . A significant portion of the market, 40 constituents , are currently classified as oversold , while another 23  are experiencing high bearish momentum  and approaching oversold territory. This means that a substantial majority (63 out of 98) of the stocks are showing signs of weakness and potential for a near-term bounce. Conversely, there are no stocks  in the overbought  or high bullish momentum  categories, and only 4  are considered to be in a strong  uptrend. A further 12  stocks are in a neutral  position, and 19  are classified as weak . Interpretation: The data suggests that the market is heavily skewed towards oversold conditions . This widespread oversold reading may point towards a potential near-term buying opportunity  as the large number of stocks at these levels could be poised for a rebound. However, the lack of strong bullish momentum and the prevalence of bearish readings indicates that any potential recovery may be short-lived or met with resistance . In essence, the market is currently overwhelmingly bearish , with a possible short-term opportunity  arising from the oversold conditions, but caution is advised  due to the overall weakness. Lester Davids Analyst: Unum Capital

On Monday 05 December, our clients were alerted to the risk of a medium term pullback in the S&P 500 Index. Over $5 trillion of market value has since been lost. To open a trading account and/or move from your existing service provider, email tradingdesk@unum.co.za    Updated Chart as of Monday 07 April at 08h54 Previous Post Thursday 05 December 2024 (Time: 21h49) S&P 500: Risk of a Medium Term Retracement. Link to original note: https://www.unum.capital/post/s-p-500-index-retracement-risk Lester Davids Analyst: Unum Capital

Trade JSE Shares  with Unum Capital. To get started, email lester@unum.co.za The rally in the shares of Platinum Group Metals is in line with the price action model as published over the weekend. Impala Platinum S/Term: "Aggressive selling however the reward-to-risk may be attractive" M/Term: "Has been sold aggressively. Look for a continued dip before a minor rebound" Anglo American Platinum S/Term: "Aggressive selling however the reward-to-risk may be attractive" M/Term: "Has been sold aggressively. Look for a continued dip before a minor rebound" Notham Platinum S/Term: "Aggressive selling however the reward-to-risk may be attractive" M/Term: "Has been sold aggressively. Look for a continued dip before a minor rebound" Sibanye Stillwater S/Term: "Aggressive selling wait for the lower time frames to stabilize" M/Term: "Persistently weak, but monitor if the price can reclaim the prior session lows for a bullish reversal trade" Snapshot as of 11h49 today: 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)

Trade   Prosus   with Unum Capital. To get started, email   lester@unum.co.za The share traded right in the middle of the R720 to R730 range with a print of R725 before rebounding to a high of R792. Previous Post (Saturday, 05 April, 07h43) Actionable Area: Prosus N.V Prosus N.V (PRX).  The share has retreated from the upper boundary of it's rising channel, encountering distribution over the last 4 weeks. The 75-day EMA and 21-week EMA continue to trend up, however, the deteriorating candle structure does not rule out a move toward the lower boundary of the channel, which is in line with the rising 200-day SMA as well as the 50-week EMA. This comes in at approximately 72000c to 73000c. This range is subject to change as the price action and news flow develops. Last Close: 81094c   Lester Davids Analyst: Unum Capital

Trade   FirstRand   with Unum Capital. To get started, email   lester@unum.co.za Rebounding from the buy range. Scroll down to see the previous post. Previous Post (Saturday, 05 April, 07h38) Actionable Areas: FirstRand Ltd FirstRand (FSR) is down 29% from it's Sept-2024 peak, with the share trading near it's June lows. It's not inconceivable that the share could trade down at the 5800c to 6000c range, which is a medium term support range. At current levels, oversold conditions are already present which reflects aggressive selling pressure however, also raises the probability of an ultra short term rebound. Last close: 6293c FSR Daily Chart as of the close on Friday 04 April Lester Davids Analyst: Unum Capital