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Trade   Local & Global Financial Markets with Unum Capital. To get started, email   lester@unum.co.za Summary of the Sector Breadth Graphic The graphic displays the percentage of stocks within each S&P 500 sector that are trading above their 20-day Simple Moving Average (SMA). This is a common way to gauge the short-term health and momentum of different sectors. A higher percentage indicates stronger short-term bullishness, while a lower percentage suggests weakness. Key Takeaways Defensive Sectors Leading:  Consumer Staples and Utilities are showing the strongest breadth, suggesting investors are favoring defensive positions. Weakness in Cyclical Sectors:  Technology, Materials, Industrials, Energy, and Communications are all showing extreme weakness. This could be a sign of broader market concerns or sector-specific issues. Financials Under Pressure:  The Financial sector is also exhibiting significant weakness.   Sector Breadth Explanation and Ranking Ranked from strongest to weakest: CNS (Consumer Staples) - 21.05% Explanation:  Consumer Staples are showing the strongest breadth, with 21.05% of stocks above their 20-day SMA. This indicates a relatively healthy short-term uptrend within the sector. Consumer Staples are often considered defensive, meaning they may hold up better during market downturns. HLT (Healthcare) - 13.33% Explanation:  Healthcare follows as the second strongest sector, with 13.33% of stocks above their 20-day SMA. While not as strong as Consumer Staples, this still suggests a degree of positive momentum. UTL (Utilities) - 12.90% Explanation:  Utilities have a similar breadth to Healthcare at 12.90%. Utilities are another defensive sector and often sought for their stable dividends. CND (Consumer Discretionary) - 11.76% Explanation:  Consumer Discretionary has 11.76% of stocks above their 20-day SMA. This sector is more cyclical, meaning it's sensitive to economic conditions. REI (Real Estate) - 6.45% Explanation:  Real Estate shows weaker breadth at 6.45%. This suggests some short-term bearishness in the sector. TTL (Telecom) - 6.06% Explanation:  Telecom has a slightly lower breadth than Real Estate at 6.06%, indicating continued weakness. FIN (Financials) - 1.36% Explanation:  Financials are quite weak, with only 1.36% of stocks above their 20-day SMA. This suggests significant short-term bearish pressure. TEC (Technology), MAT (Materials), IND (Industrials), ENE (Energy), COM (Communications) - 0.01% Explanation:  All of these sectors are showing extremely low breadth, practically at zero (0.0100%). This indicates significant weakness and bearish momentum. Ranking Summary (Strongest to Weakest) CNS (Consumer Staples) - 21.05% HLT (Healthcare) - 13.33% UTL (Utilities) - 12.90% CND (Consumer Discretionary) - 11.76% REI (Real Estate) - 6.45% TTL (Telecom) - 6.06% FIN (Financials) - 1.36% TEC (Technology), MAT (Materials), IND (Industrials), ENE (Energy), COM (Communications) - 0.01% Lester Davids Analyst: Unum Capital

Trade   JSE Shares   with Unum Capital. To get started, email   lester@unum.co.za *High Impact Currently, 21% of shares trade above their 200-day moving averages. This is trending toward the lower boundary of the 20-year range. This is of associated with a weak but cheaper that average market i.e. (in some cases, buying opportunities). Lester Davids Analyst: Unum Capital

Trade   Local & Global Markets   with Unum Capital. To get started, email   lester@unum.co.za This is an update on the previous post in which we considered the price model readings. Copper: Reading at the time was 'Overbought'. We have since seen a sharp pullback from above 5.30 to 4.40. Gold. Reading at the time was 'Sellers becoming active'. This past week we saw some profit-taking. Silver. The medium term reading (2 to 4 weeks) highlighted the potential for a short/sell position if the commodity fails to hold it's highs. Silver traded slightly higher then collapsed by 12%. Palladium The short term reading (1 to 10 days) highlighted the potential for a short/sell position if the commodity fails to hold it's highs. Palladium traded slightly higher to above $995 then collapsed to below $900 (Friday's close $902). Platinum was the only commodity which showed a lack of directional bias. It subsequently fell in line with most of the group above. Lester Davids Analyst: Unum Capital

Trade   U.S. Shares & ETFs   with Unum Capital. To get started, email   lester@unum.co.za *Data as of Friday 04 April (Pre-Market, U.S. Trading Session) Overall Summary (Weighted by Short Term): Strongest Sectors: Financials:  Consistent strength across all time frames. Materials:  Significant improvement and strong short-term performance. Healthcare:  Improving trend and strong short-term performance. Weakest Sectors: Technology:  Significant weakness and strong bearish momentum. Energy:  Deteriorating performance with a weak short term. Consumer Discretionary:  Underperformance and lack of improvement. Sectors with Mixed Signals (Require Careful Monitoring): Communications:  Overbought long term, strong medium term, neutral short term. Industrials:  Neutral long term, strong medium term, neutral short term. Consumer Staples:  Strong long term, overbought medium term, bullish momentum approaching overbought short term. Real Estate:  Neutral long term, bullish momentum approaching overbought medium and short term. Utilities:  Strong long term, overbought medium and short term. Key: Strong:  Indicates outperformance relative to SPY. Neutral:  Indicates performance in line with SPY. Weak:  Indicates underperformance relative to SPY. Overbought:  Suggests the sector might be due for a pullback. Oversold:  Suggests the sector might be due for a bounce. High Bullish Momentum:  Strong upward price movement. High Bearish Momentum:  Strong downward price movement. Sector Analysis: 1. Materials vs. SPY: Long Term:  Weak Medium Term:  Strong Short Term:  Strong Analysis:  This sector is showing significant improvement. While it was weak in the long term, it has become strong in both medium and short terms. The strong short-term performance, carrying the most weight, indicates a positive outlook. 2. Communications vs. SPY: Long Term:  Overbought Medium Term:  Strong Short Term:  Neutral Analysis:  This sector shows mixed signals. It was overbought long-term, suggesting a potential pullback. However, it's strong in the medium term. The neutral short-term performance, while not negative, doesn't reinforce the strength seen in the medium term. This sector warrants cautious observation. 3. Energy vs. SPY: Long Term:  Neutral Medium Term:  Strong Short Term:  Weak Analysis:  Energy shows a concerning deterioration. While it was neutral long term and strong medium term, it has turned weak in the short term. This reversal, especially in the most heavily weighted short term, suggests potential weakness ahead. 4. Financials vs. SPY: Long Term:  Strong Medium Term:  Strong Short Term:  Strong Analysis:  This sector is consistently strong across all time frames, indicating robust outperformance relative to SPY. This sector shows the most consistent strength. 5. Industrials vs. SPY: Long Term:  Neutral Medium Term:  Strong Short Term:  Neutral Analysis:  Industrials show a similar pattern to Communications. It was neutral long term, strong medium term, and neutral short term. The neutral short-term performance doesn't provide additional conviction, suggesting a need for careful monitoring. 6. Technology vs. SPY: Long Term:  Weak Medium Term:  Oversold Short Term:  High Bearish Momentum / Approaching Oversold Analysis:  Technology is showing significant weakness. It was weak long term and oversold medium term, but the short term shows high bearish momentum and is approaching oversold. This indicates a strong downtrend and potential further weakness. 7. Consumer Staples vs. SPY: Long Term:  Strong Medium Term:  Overbought Short Term:  High Bullish Momentum / Approaching Overbought Analysis:  Consumer Staples is showing mixed signals. While strong long term, it's overbought medium term. The short term shows high bullish momentum and is approaching overbought, suggesting potential for continued strength but also a risk of pullback. 8. Real Estate vs. SPY: Long Term:  Neutral Medium Term:  High Bullish Momentum / Approaching Overbought Short Term:  High Bullish Momentum / Approaching Overbought Analysis:  Real Estate is showing strong bullish momentum in the medium and short terms, both approaching overbought levels. This suggests potential for continued strength but also a risk of a near-term correction. 9. Utilities vs. SPY: Long Term:  Strong Medium Term:  Overbought Short Term:  Overbought Analysis:  Utilities show consistent strength long term, but are overbought in both medium and short terms. This indicates potential for a pullback in the near term. 10. Healthcare vs. SPY: Long Term:  Neutral Medium Term:  High Bullish Momentum / Approaching Overbought Short Term:  Strong Analysis:  Healthcare shows improvement. It was neutral long term, showed bullish momentum in the medium term, and is strong in the short term. This indicates positive momentum and potential for further strength. 11. Consumer Discretionary vs. SPY: Long Term:  Neutral Medium Term:  Weak Short Term:  Neutral Analysis:  Consumer Discretionary is showing weakness. While neutral long term and short term, it's weak in the medium term. The lack of improvement in the short term suggests this sector may continue to underperform. Conclusion: The analysis, weighted by the short term, highlights the Financials, Materials, and Healthcare  sectors as showing the most promising strength. Conversely, Technology, Energy, and Consumer Discretionary  show concerning weakness. The remaining sectors present mixed signals and require careful monitoring for potential opportunities or risks. Lester Davids Analyst: Unum Capital

Trade   Local & Global Financial Markets with Unum Capital. To get started, email   lester@unum.co.za *Weekly Time Frame* - Updated After Friday's U.S. Market Close *Monthly Time Frame* - Updated After Friday's U.S. Market Close 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.

Trade the Top 40 Index with Unum Capital. To get started, email lester@unum.co.za Our initial view considered the rising trend line resistance as an inflection point for the index i.e. a potential resistance zone within the upward trend. The price did not trade into that level but has instead rolled over earlier than expected, with the selling pressure now evident by the large intraday decline. The index has shifted to below the 50-day, approaching the lower boundary of the rising channel. (Comment as of Friday 04 April, Post-Market Close). See the previous post below: Previous Post (Thursday 20 March at 14h44): Trading Top 40: Have You Considered This Angle? The upper boundary of the channel represents a potential medium term resistance range (i.e. a level at which the price could trade into, then consolidate. If it becomes overbought on a weekly basis, this could coincide with the potential for a retracement. Lester Davids Analyst: Unum Capital

Trade   Standard Bank   with Unum Capital. To get started, email   lester@unum.co.za A continued move lower from these cycle highs with the MACD now developing a bearish crossover. This is why we hold monthly charts in the highest regard. Previous Post: Thursday 12 December 2024 (Time: Pre-Market) SBK Standard Bank Notes on the slide below

Trade   Anglo American   with Unum Capital. To get started, email   lester@unum.co.za Lester Davids Analyst: Unum Capital

Trade   JSE Shares   with Unum Capital. To get started, email   lester@unum.co.za 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

Trade Global Indices  with Unum Capital. To get started, email lester@unum.co.za In our note, published last week Friday the price action model highlighted the weak price action while suggested that rallies into the 8,21 or 50-week EMA could be sold. Early in the week we saw a brief rebound into these levels (the 8-week EMA and the 50-week EMA) which was followed by a sharp sell-off on Wednesday, Thursday and Friday. The lower boundary of the channel was also tested, with our view being that 5225 to 5300 would be a target. This was reached on Friday, with the low as at the time of writing (Friday, 14h03 South African Time), being 5172. S&P 500: What we communicated to our clients on Monday 05 December at 6098. Model Reading = "Risk of a medium term retracement" Link to original note: https://www.unum.capital/post/s-p-500-index-retracement-risk The short term rebound has been met with resistance and a rollover, with the having re-tested the underside of the widely-watched 200-day simple moving average as well as the declining 21-day exponential moving average. More broadly, the index is trading below it's 75-day EMA and the 21-week EMA has started to lose upside momentum by turning lower. Plotting a parallel channel, a further deterioration of price would potential target the lower boundary of the channel, which comes in at 5225 to 5300. The weakness in U.S equities is a validation of a BEARISH VIEW express on 05 December 2024. Previous Post: U.S. Indices: Bullish Reversals In Line With Model Readings S&P 500 | Dow | Nasdaq | Russell 2000 This is an update on the previous post which highlighted the price action model readings for the 4 major U.S indices. Since then, we have seen a short term rally, in line with oversold or approaching oversold conditions. The original readings can be found on this same page (scroll down). For the S&P 500 , the then OVERSOLD and VERY BEARISH ratings were a setup for a bearish unwind (i.e. a rebound). The yellow arrow on the daily chart highlights the date/time of the note. For the Dow Jones Industrial Average (US30) , the model reading alerted traders with the following reading: "Very aggressive selling underway. Wait until momentum starts to slow before buying. Alternatively, phase in your buying'. The yellow arrow on the daily chart highlights the date/time of the note. For the Nasdaq 100, the then HIGH BEARISH MOMENTUUM / APPROACHING OVERSOLD and VERY BEARISH ratings were a setup for a bearish unwind (i.e. a rebound). The yellow arrow on the daily chart highlights the date/time of the note. For the Russell 2000 Index (Small Caps), the then HIGH BEARISH MOMENTUUM / APPROACHING OVERSOLD and VERY BEARISH ratings were a setup for a bearish unwind (i.e. a rebound). Also note, the model reading (5 to 8 weeks), highlighted the share having been weak with selling pressure however that there was a probability of a small rebound. The yellow arrow on the daily chart highlights the date/time of the note. Previous Post (Wednesday 12 March): Trading U.S. Indices Analysis of the four major indices: S&P 500 Dow Jones Industrial Average Nasdaq 100 Russell 2000 (Small Caps) S&P 500 Index / US 500 No readings across the 3 time frames however, it does reflect an oversold regime, with the 14-day trend being very bearish. Selling pressure continues to be aggressive therefore prices can remain under pressure for long than anticipated. Look for the lower time frames (1H, 2H and 4H) to improve/stabilize. Dow Jones Industrial Average (DJIA) / US30 Q: What is the overall trend for Dow Jones Industrial Average? A: The overall trend is bearish (downward). 1 This is evident across all time frames (short, medium, and long term) Q: What is the current 7-day trend? A: The 7-day trend is High Bearish Momentum / Approaching Oversold. Q: What is the current 14-day trend? A: The 14-day trend is Very Bearish. Q: Is there any opportunity for a short-term buy/long position? A: Potentially, with caution. The analysis suggests waiting for the "downward momentum to slow" or to "phase in buying." This indicates the possibility of a short-term bounce or reversal, but it's not a strong buy signal yet. Q: Is there any opportunity for a short-term sell/short position? A: Not explicitly recommended. The analysis focuses on the potential for a slowing of the bearish momentum, suggesting that the strongest part of the sell-off may be over. Q: What is the current position & trend for the short term (1 to 10 days)? A: Very Aggressive Selling. The analysis recommends waiting for the downward momentum to slow before buying or phasing in buying. Q: What is the current position & trend for the medium term (2 to 4 weeks)? A: Aggressive Selling. The analysis suggests waiting for lower time frames to stabilize before considering any buying. Q: What is the current position & trend for the long term (5 to 8 weeks)? A: Aggressive Selling Following A Steady Upward Trend. The analysis is looking for support at prior swing lows to capture minor rebounds, implying a continuation of the downtrend with potential temporary bounces. In summary: The Dow Jones Industrial Average is experiencing a strong bearish trend across all time frames. The analysis suggests caution for buyers and recommends waiting for signs of stabilization or a slowing of the downward momentum before considering long positions. There may be opportunities for short-term rebounds, but these should be approached with care and confirmation of a trend reversal. The overall outlook remains bearish. Nasdaq 100 Index (US100) Q: What is the overall trend for Nasdaq 100? A: The overall trend is bearish or negative, as indicated by the "High Bearish Momentum" and "Very Bearish" signals in the short term, and the "Aggressive Selling" in the long term. Q: What is the current 7-day trend? A: The current 7-day trend is High Bearish Momentum / Approaching Oversold. Q: What is the current 14-day trend? A: The current 14-day trend is Very Bearish. Q: Is there any opportunity for a short-term buy/long position? A: There might be a potential opportunity for a short-term buy/long position, but it's risky. The "Approaching Oversold" condition in the 7-day trend suggests a possible bounce, but the "Very Weak" signal and the "Very Bearish" 14-day trend indicate strong downward pressure. The strategy would be to "Wait Until It Stabilizes On The Lower Time Frame" before considering any long positions. Q: Is there any opportunity for a short-term sell/short position? A: There is a strong opportunity for a short-term sell/short position provided the index fails shows deteriorating candle structure or overbought conditions on any short term rally. The "Very Weak" and "Very Bearish" signals indicate continued downward momentum. Q: What is the current position & trend for the short term (1 to 10 days)? A: The current position and trend for the short term (1 to 10 days) is Very Weak. The advice is to "Wait Until It Stabilizes On The Lower Time Frame". Q: What is the current position & trend for the medium term (2 to 4 weeks)? A: The current position and trend for the medium term (2 to 4 weeks) is Persistently Weak. The advice is to "Monitor Lower Times For Rebound Potential". Q: What is the current position & trend for the long term (5 to 8 weeks)? A: The current position and trend for the long term (5 to 8 weeks) is Aggressive Selling Following A Steady Upward Trend. The strategy would be to "Look For Support At Prior Swing Lows To Capture Minor Rebounds". In summary: The Nasdaq 100 is experiencing a strong bearish trend across all time frames. The short-term is showing signs of being oversold, but the overall momentum is still downwards. Shorting opportunities are present, but any long positions should be approached with extreme caution and only after confirming stabilization on lower time frames. The medium and long-term trends suggest continued weakness, with potential for minor rebounds at support levels. Russell 2000 Index (Small Caps) Q: What is the overall trend for RUSSELL 2000 INDEX? A: The overall trend for the Russell 2000 Index is bearish, with indications of continued weakness but potential for a small rebound. Q: What is the current 7-day trend? A: The current 7-day trend is high bearish momentum and approaching oversold. Q: What is the current 14-day trend? A: The current 14-day trend is very bearish. Q: Is there any opportunity for a short-term buy/long position? A: The short-term analysis suggests the market is approaching oversold, which could present a potential opportunity for a short-term buy/long position. However, this should be approached cautiously due to the overall bearish momentum. Q: Is there any opportunity for a short-term sell/short position? A: For now, this opportunity has passed, given the bearish 14-day trend and high bearish momentum in the 7-day trend, a rebound is more likely, especially if the oversold condition is reached with strong candle structure on the lower time frames. Q: What is the current position & trend for the short term (1 to 10 days)? A: The current position for the short term is bearish, with high bearish momentum and approaching oversold conditions. The trend is weak but showing signs of potential for a small rebound. Q: What is the current position & trend for the medium term (2 to 4 weeks)? A: The current position for the medium term is persistently weak, but there's a need to monitor for potential lower times for a rebound. The trend is bearish but with potential signs of a reversal. Q: What is the current position & trend for the long term (5 to 8 weeks)? A: The current position for the long term is weak, with selling pressure. However, there's a probability of a small rebound. The trend is bearish but with signs of a potential recovery. In summary: The Russell 2000 Index is currently in a bearish trend across all time frames (short, medium, and long term). The short-term analysis indicates the index is approaching oversold territory, which could lead to a temporary rebound. However, the overall bearish momentum suggests that any rebound might be short-lived. Traders should exercise caution and consider both potential short-term buy/long and sell/short opportunities, keeping in mind the prevailing bearish sentiment. Previous Post: Our Research, Your Opportunity: S&P 500 Index Model Unfolding Snapshot as of 20h47 (Monday 10 March) An 8% pullback off the price action model reading in 05 December. As per the model reading at the time: (1) " Possible bearish reversal, following a very bullish move " and (2) " Aggressive Buying But Overbought On The Lower Time Frame - Expect a consolidation or Minor Retracement ". Previous Post On 05 December we discussed the index, highlighting the risk of a medium term retracement as well as the live reading from the Tactical Trading Guide (Price Action Model) which was as follows: (2 to 4 week time frame): "a possible bearish reversal following a very bullish move" and (5 to 8 week time frame): Aggressive buying underway, but overbought on the lower time frame. Expect a consolidation or a minor retracement". Our analysis coincided with the medium term top as the index retreated from 6098 to 5768 (-330 points or -5%). This was followed by a rebound however, the index has struggled to clear over the overhead resistance range and maintain it's position above 6098 for a sustained period. Over the course of this week, we saw broad-based selling pressure, with the index at multi-week lows. The only two sectors which saw safe-haven buying were Consumer Staples and Utilities, both of which have featured strongly on our screens prior to the note and which we published as buy candidates. Links as follows: https://www.unum.capital/post/iyk-etf + https://www.unum.capital/post/jxi-etf S&P 500 Index Chart (Current) Previous Post: S&P 500 Index: Risk of a Medium Term Retracement Thursday 05 December 2024 (Time: 21h49) Lester Davids Analyst: Unum Capital

Trade   U.S. Shares & ETFs   with Unum Capital. To get started, email   lester@unum.co.za As noted on Monday, 16 December: "Here, the ratio in the lower panel could overshoot to the downside, followed by a bullish reversal. This would mean that consumers could start to outperform consumer discretionary stocks, which would be a negative factor for the S&P 500 Index." The red vertical line on the chart below reflects the date of our note to clients. Previous Post: Staples vs Discretionary: A Read-Through For The S&P 500 Index Monday 16 December 2024 (Time: 09h20) If 'market memory' is a concept you identify with, then the chart below might be of interest to you. The chart has been prepared in the following manner: Upper Panel = S&P 500 Index Lower Panel = Consumer Staples Relative To Consumer Discretionary In the lower panel, which is Consumer Staples Relative To Consumer Discretionary, the ratio is approaching a multi-year swing low which may be an area of significance in which market participants rotate into the consumer staples sector and out of the consumer discretionary sector. This would mean greater demand for stocks which do well in a slowing economic environment (consumer staples). The arrows on the chart (near the vertical yellow line) show that the S&P 500 Index experiences a period of weakness when consumer discretionary stock underperform. This is also denoted by the two square blocks shown on the chart. While I am not making a prediction, recognizing the potential for price action probability an help traders remain open to the potential for a given market scenario. Here, the ratio in the lower panel could overshoot to the downside, followed by a bullish reversal. This would mean that consumers could start to outperform consumer discretionary stocks, which would be a negative factor for the S&P 500 Index. Source: Lester Davids (TradingView) / Time of Chart: Sunday 15 December 2024 Lester Davids Analyst: Unum Capital

Trade   British American Tobacco   with Unum Capital. To get started, email   lester@unum.co.za The extract below is from a note to clients on Wednesday, 06 December 2023 at 53198c, highlighting both a manual view (channel) as well as the price action model reading. Within just 16 month, the share has gained 51% and trades above R800, it's highest level since January 2018. This post is a continuation of the commentary on the share at various points over the 13 months (beginning December 2023). It highlights both the manual views and automated tool used to take advantage of opportunities on both the buy (long) and sell (short) side. The share currently trades at a 2-year high. Well done to clients who may have capitalized on these opportunities. At current levels, the model reading is as follows: Previous Post: A Useful Tool For Uncovering Opportunity & Assessing Reward-To-Risk: BTI As An Example Monday 25 November 2024 (Time: 11h04) Are you taking advantage of the tools provided? On the back of a the model reading on Friday 18 October (end of day) : "The reward-to-risk is becoming attractive for a small buy/long position", BTI has rallied from R600 to R680 Both the previous long and short side posts are shown below ( scroll down for the previous posts ) Below is the reading for Fri 18-October, as mentioned above: Previous Post: Get Ready To Trade: British American Tobacco Date: Monday, 07 October 2024 Time Published: Pre-Market Ticker: BTI My model called for a pullback from overbought conditions, citing an unattractive reward-to-risk on the buy/long side. Since then, the share has retreated from R690 to below R610 Next Best Probability Entry Range is shown below. Previous Post: Thursday, 05 September 2024 Real-Time: 14h00 Ticker: BTI Previous Post(s) Real-Time: 10h53 Ticker: BTI BTI has been a profitable medium term trading opportunity for clients of Unum Capital. At current levels, the high bullish momentum conditions benefit existing shareholders however, it may also be an opportunity to reduce into strength. As re-iterated on Monday, 29 April: As discussed in December: Lester Davids Analyst: Unum Capital