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Trade JSE Shares   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 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 Analyst: Unum Capital

Trade   Aspen Pharmacare   with Unum Capital. To get started, email   lester@unum.co.za Text from the image above: HIGH RISK BUY IDEA therefore small-than-average position sizes may apply. The share has been sold off aggressively and was previously in a high bearish momentum regime while approaching oversold. A base has developed and this may be a RANGE to starting building a buy/long position with the expectation that the base is maintained over the near term followed by a potential bullish reversal. Buy at current levels or lower (traders could consider starting with a 1/3 of the position). As always, traders could consider the following if/when the prices approaches the target: bank/take profit, partially scale out, adjust the stop-loss to protect profits. Time stop: 09 June 2025. TRADING LEVELS: Entry: 17124 (or better) Target: 19000 Stop-loss: 15900 Previous Post: ASPEN PHARMACARE Noted: Above-Average Volume (4.5m Shares) + Value Traded (R779m) Tuesday 10 December 2024 (Time: Pre-Market) 10-day average volume: 1.4m shares 30-day average volume: 1.2m shares Yesterday's volume: 4.5m shares Value trade: R779m Previous Post: ASPEN PHARMACARE The Bull, Bear & Base Case Thursday 28 November 2024 (Time: Pre-Market, 06h32) This is an update. Please scroll down for the previous posts. The price action remains unhealthy, with strong selling pressure, with my view being that is that it is too early to buy, however, it may be worthwhile adding it to your watchlist for when the price action stabilizes/improves. Bear Case = A print lower, with a very slow recovery which includes opportunity cost. Base Case = A print lower, with a slower, but eventual recovery. Bull Case = A print lower, followed an overshoot of the ~R160-ish support range, followed by a relatively quick price recovery. The dotted arrow represents my best-probability price action scenario. Bear Case = A print lower, with a very slow recovery which includes opportunity cost. Base Case = A print lower, with a slower, but eventual recovery (possible little downside from here). Bull Case = A print lower, followed an overshoot (false breakdown) of the ~R160-ish support range, followed by a relatively quick price recovery (possible little downside from here). Adding to the above, as of yesterday's close, the price action data was as follows: Previous Post: Aspen Pharmacare: Unhealthy Price Action, But Flashing For Opportunity Wednesday 23 October 2024 Time Published: Pre-Market Ticker: APN I am fully aware of the heavy selling pressure and poor price action, however, I am starting to notice readings coming through which states that the reward-to-risk is becoming attractive for a small buy/long position. While the readings are there, it may just be sensible to wait until the price stops going down and starts to form a base...or gives us a 'flush low' and a V-shaped reversal setup. Notice the 5 to 8 week reading also stating that selling is aggressive and that we should wait for the price to stabilize? I drew these lines a few weeks ago, thinking R160 or thereabout would be a level of interest. Previous Post: Aspen Pharmacare: The Long and Short of It - Thursday, 05 September 2024 Pre-Market Ticker: APN Within the span of 19 months, the share has provided clients of Unum Capital with two opportunities to profit. These opportunities came on both the long (buy) and short (sell) side, benefiting from a rising and falling share price. The short leg provided short term traders with 3x opportunities to sell above 23500c. Although the share briefly test the stop-loss level (a spike), the share pullback was in line with the view. The updated chart, with the time-stamped ideas, is shown below. Lester Davids Analyst: Unum Capital

Trade JSE Shares  with Unum Capital. To get started, email lester@unum.co.za 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. MEDIUM TERM (APPROXIMATELY 2 to 4 WEEKS) - SUBJECT TO CHANGE AS THE PRICE ACTION DEVELOPS NOTE: THE SHORT TERM (1 TO 10 DAYS) AND LONG TERM (5 TO 8 WEEK) READINGS ARE ALSO AVAILABLE. SHOULD YOU URGENTLY REQUIRE A READING FOR THE S/TERM or L/TERM, YOU ARE WELCOME TO E-MAIL ME AT LESTER@UNUM.CO.ZA

Trade Richemont   with Unum Capital. To get started, email lester@unum.co.za The comment below is an extract from our note on Richemont, dated 26 November 2024. "While it the trend is down and the fundamental outlook is bearish, it may be worthwhile to keep an open mind for a potential change of trend following this multi-month consolidation" - Lester Davids, 26-Nov-2024. The chart below highlights the share price development since: CFR chart as of Thursday 16 January at 09h16 You may also recall the end of day model reading (26-Nov) stating the following: "Attempting a rebound following a downward trend. The share may consolidate further before continuing, higher" . The share has since risen by 34%. Previous Post: Tuesday 26 November 2024 (Time Published: 06h09) The current price trend (down) reflects the automatic price action reading which clearly states the share is weak (ST & MT) while the 8-week and 21-week EMA may act as resistance ranges on any short term rally. The fundamental impact on price is known, with the impact of the Chinese slowdown having filtered through to almost all global luxury peers, resulting in muted growth prospects which has caused market participants to sell down the shares. The share was previous a short/sell idea on 07 June when it traded into extreme short term overbought territory at a high of R3194 before retreating by 27% to it's recent low of R2309. While it the trend is fundamental outlook is bearish and the price is trending down, it may be worthwhile to keep an open mind for a potential change of trend following this multi-month consolidation . What do we need to see? Strong price action with volume would be an early indicator that the market's sentiment toward the share is starting to change + clear/reclaiming the downward trend line in place since the recent peak of 07 June 2024. View as of Thursday 21 November at 10h52. Previous Post: Richemont Is Retreating In Line With Model Reading - Wednesday, 18 September 2024 Real-Time: 10h45 Ticker: CFR Currently lower by R415 or 15.4% Potential target is the unfilled gap at ~R2380 Previous Post (22 August 2024) • REAL-TIME: 15h30 ABOUT THE TACTICAL TRADING GUIDE: 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 our Tactical Trading Guide (Price Action Tool) which   is also available as a live tool via the telegram group. The tool provides automated price analysis for any tradeable instrument 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. The tool helps to determine and shed light on the some of the following: Whether the reward-to-risk is attractive for a buy/long position? Whether a share is weak or if aggressive buying is underway 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 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 Lester Davids Analyst: Unum Capital

Trade   Harmony Gold   with Unum Capital. To get started, email   lester@unum.co.za Analyst's Price Action Model Q: What is the overall trend for HARMONY GOLD? A: The overall trend is bullish. Q: What is the current 7-day trend? A: Overbought. Q: What is the current 14-day trend? A: Very bullish. Q: Is there any opportunity for a short-term buy/long position? A: there is a very strong move with buyers in control. However, it is advised not to chase the price. If the highs fail to hold, then the 8-EMA may be a short-sell target. Q: What is the outlook for the medium term (2 to 4 weeks)? A: There is aggressive buying, but it is advised not to chase the price. Look for an overshoot or failure to hold prior session range highs to short-sell back to the 8-EMA. Q: What is the outlook for the long term (5 to 8 weeks)? A: Harmony Gold has resumed a bull move in a strong upward trend. In summary: The price action model for HARMONY GOLD indicates a bullish trend across all timeframes. However, the short-term is overbought, so caution is advised. Traders are advised to look for opportunities to short-sell if the price fails to hold recent highs. The long-term outlook remains bullish. Lester Davids Analyst: Unum Capital

Trade   Gold   with Unum Capital. To get started, email   lester@unum.co.za Analyst's Price Action Model Q: What is the overall trend of Spot Gold? A: Bullish Q: What is the current 7-day trend? A: Strong Q: What is the current 14-day trend ? A: Bullish Q: Is there any opportunity for a short-term buy/long position? A: Yes, but be cautious. Aggressive buying is advised, but avoid chasing prices. Look for overshoots or failures to hold prior session range highs to short-sell back to the 8-EMA. Q: What is the advice for the medium term (2 to 4 weeks)? A: Attempting to advance while in a bullish regime. If it pulls back, use the prior session close or the 8-EMA as an accumulation zone. Q: What is the advice for the long term (5 to 8 weeks)? A: Buyers are in control, but weakness on lower time frames. Look for pullbacks to the 8 or 21-EMA (buy range) before the next move higher. In summary: The price action model indicates a strong bullish trend for Spot Gold across all timeframes. While aggressive buying is encouraged, caution is advised to avoid chasing prices. Short-selling opportunities may arise during overshoots or failures to hold prior session range highs. In the medium term, pullbacks can be seen as accumulation zones. Long-term, buyers are in control, and pullbacks to the 8 or 21-EMA can be considered buy ranges. SPOT GOLD (XAUUSD) Daily Chart as of Thursday 16 January 2025 at 13h22 Lester Davids Analyst: Unum Capital

Trade   MTN Group   with Unum Capital. To get started, email   lester@unum.co.za MTN trading above 10100c today, from the original view at 7400c. Original Post on 18 July, with real-time model reading: "The reward-to-risk is becoming attractive for a small buy/long position" https://www.unum.capital/post/mtn-group-here-s-what-the-data-says-thursday-18-july-2024 Previous Post: MTN Group: Here's What The Data Says - Thursday, 18 July 2024 • REAL-TIME - 16h44 New Trigger Lester Davids Analyst: Unum Capital

Trade JSE Shares  with Unum Capital. To get started, email lester@unum.co.za 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. MEDIUM TERM (APPROXIMATELY 2 to 4 WEEKS) - SUBJECT TO CHANGE AS THE PRICE ACTION DEVELOPS NOTE: THE SHORT TERM (1 TO 10 DAYS) AND LONG TERM (5 TO 8 WEEK) READINGS ARE ALSO AVAILABLE. SHOULD YOU URGENTLY REQUIRE A READING FOR THE S/TERM or L/TERM, YOU ARE WELCOME TO E-MAIL ME AT LESTER@UNUM.CO.ZA

Trade the Top 40 Index with Unum Capital. To get started, email lester@unum.co.za Well done to clients who continue to capitalize on the opportunities at hand. Clients of Unum Capital have access to timely views that help to achieve two goals: (1) manage risks and (2) uncover opportunities. Below, the JSE Top 40 Index is an example of clients have benefitted from timeous views: Our view on 27 September (pre-market) : "Short Term Overbought + Downside Risk" (see insert on chart) ... the index declined by 4000 points over the subsequent 3 months. Our view on 14 January (pre-market): "Don't press, don't be too aggressive on the short/sell side" (see insert on chart) ... market higher by 1400 points. Previous Post: JSE Top 40 Index: 200-Day Breached, But Caution On Pressing Shorts Too Hard (+ Price Action Model) - Tuesday 14 January 2025 Historical price action developments/trading setups have shown us that when a price has been in a downward trend, there is always a risk that the downward momentum slows, which can then be followed by the start of a 'base formation' or bullish reversal. Taking an ultra short term view, we are aware that the index has been in a downward trend, with ' high bullish momentum / approaching oversold ' being the current reading. For traders looking to enter short/sell positions, the current level may not be optimal. Why? One scenario is that the price could continue to trade lower in the following session (today, 14 January) which can be followed by a reclaim of the prior day lows and a bullish reversal. I know the popular saying is ' trade what you see ' however my goal as an analyst is to prepare you in order to recognize opportunities and risks, with various price action scenarios to consider . Bottom line: the index can trade lower in the short term, however, be careful to not press you shorts too aggressively around these level. Analyst's Price Action Model as of Monday 13 January at 13h55 Q: What is the overall trend of the JSE TOP 40 Index? A: The overall trend is bearish. This is indicated by the "Aggressive Selling" in both the medium and long-term price action readings. Q: What is the current 7-day trend? A: The 7-day trend is also bearish, with high bearish momentum and an approaching oversold condition. 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: Yes, the reward-to-risk ratio is becoming attractive for a small buy/long position, but this is only for the short-term (1 to 10 trading days). Q: What is a potential scenario for the medium term (2 to 4 weeks)? A: Aggressive selling is underway therefore, traders should wait for lower time frames to stabilize before considering any action. Q: What is a potential scenario for the long term (5 to 8 weeks)? A: Aggressive selling is underway however, traders should look for support at prior swing lows to capture minor rebounds. In summary: The JSE TOP 40 Index is currently in a bearish trend. While there is a short-term opportunity for a small buy/long position, aggressive selling is advised for the medium and long term. Traders should wait for lower time frames to stabilize before considering any action. JSE Top 40 Index Daily Chart as of 13h58 on Monday 12 January 2025 Previous Post (Sunday 12 January 2025): JSE Top 40 Index: Approaching It's 200-Day But Vulnerable To A Breach Update: Breached short term support Rally rejected into the declining 8-day EMA Trading below it's declining 21-day EMA Trading below it's 75-day EMA, which has started to turn lower Trading below it's 21-week EMA, which has started to turn lower Monthly time frame = Neutral Weekly time frame = Weak Daily time frame = Weak Above a gradually rising 50-week EMA Above a gradually rising 200-SMA SMA Analyst's Price Action Model Regime: Monthly, Weekly & Daily Top 40 Index Daily Chart as of the close on Friday 10 January 2025. Resistance and Support zones are subject to change as the price action and news flow develops. Previous Post: Update: Trading in a tight consolidation range Rejected into the declining 21-day EMA Rejected into the declining 75-day EMA Shifting to and consolidating below a flat 21-week EMA Deteriorating candle structure at short term support Above a rising 50-week EMA Above a rising 200-SMA SMA Previous Post: TRADING The JSE Top 40 Index On 27 September 2024, research highlighted the index trading in a short term overbought range, from which we subsequently saw a retracement and unwind from these overbought conditions. Over the 3 months, the index has traded in a sideways range, reflecting a period of distribution among several large and mid cap constituents. The following key developments are also noted: The price has shifted below it's 50-day EMA (the 50-day EMA has also lost it's upside momentum and is turning lower). The price is breaking below it's 21-week EMA - a level which previous held as support on retracements. The price continues to trade above it's 50-week EMA, which is sloping upwards. This is a positive development. The price continues to trade above it's 200-day SMA, which is sloping upwards. This is a positive development. The 50-week EMA and 200-day SMA are currently aligned. This range could act as a level of support on a further retracement. Do however note that the price has the ability to overshoot this range and test the swing low of 11 September at 72991. Lester Davids Analyst: Unum Capital

Lester Davids Analyst: Unum Capital

Trade FX: USD/ZAR  with Unum Capital. To get started, e-mail lester@unum.co.za USDZAR - pair failed to hold it's highs and has developed a bearish reversal in line with the analysis (including the model reading) published on Sunday 12 January ( in case you may have missed it, please scroll down to view ). Previous Post: Before You Trade USD/ZAR, Read This (12 January) Analyst's Price Action Model What is the overall trend for USD/ZAR? The overall trend for USD/ZAR is bullish across all timeframes. What is the short-term (1 to 10 days) price action reading? The short-term price action is very strong and bullish. Buyers are in control, but it's advised not to chase the price. If the price fails to hold the highs, the 8-EMA could be a short-sell target. What is the medium-term (2 to 4 weeks) price action reading? The medium-term price action is also very strong and bullish. Buyers are in control, but again, it's advised not to chase the price. If the price fails to hold the highs, the 8-EMA could be a short-sell target. What is the long-term (5 to 8 weeks) price action reading? The long-term price action is showing aggressive buying underway. However, it's advised not to chase the price. Look for an opportunity to short-sell back to the 8-EMA if the price fails to hold prior session range highs. In summary, the USD/ZAR is in a strong uptrend across all timeframes. Traders should be cautious and avoid chasing the price. Short-selling opportunities may arise if the price fails to hold key levels or becomes extended vs key moving averages. Points To Ponder: The pair is trading at an extended level above it's 75-day exponential moving average. Although extended, it is not extreme compared to historical distance readings. The pair is above a rising 8-day EMA. The pair is above a rising 21-day EMA. The 75-day EMA has turned upward. The 21-week EMA has turned upward. The 50-week EMA has started to turn upward. The 200-day SMA is trading sideways. Regime for each time frame Daily time frame = High bullish momentum/ Approaching overbought Weekly time frame = Overbought Monthly time frame = Strong Lester Davids Analyst: Unum Capital