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Trade Fixed Income ETFs  with Unum Capital. To get started, email lester@unum.co.za The move lower in bond yields is in line with our previous view (driven by the model/Tactical Trading Guide) that yields had become overbought in the short and medium term and that a risk of a bearish reversal was possible. Previous Post: U.S. 10-YEAR BOND YIELD Bullish Momentum However, Approaching Short Term Overbought (08 January 2025) Overall Summary The image presents a price action analysis for the US 10-Year Bond Yield, focusing on three timeframes: Short Term (1-10 days), Medium Term (2-4 weeks), and Long Term (5-8 weeks). Key Observations 7-Day Trend: High Bullish Momentum, Approaching Overbought 14-Day Trend: Very Bullish Short Term (1-10 days): Price Action Reading: Very Strong Move, Buyers in Control, but Don't Chase - May Fail to Hold the Highs; If it doesn't hold, the 8-EMA may be a short-sell target. Medium Term (2-4 weeks): Price Action Reading: Aggressive Buying but Do Not Chase - Look for Overshoot or Failure to Hold Prior Session Highs to Short-Sell Back to the 8-EMA. Long Term (5-8 weeks): Price Action Reading: Attempting to Advance Whilst in a Bullish Regime - If it Pulls Back, Use Prior Session Close or 8-EMA as an Accumulation Zone. Interpretation Bullish Momentum: The price of the US 10-Year Bond Yield has been rising strongly in the short term. Caution: The momentum is approaching overbought territory, suggesting a potential reversal. Trading Strategy: Short-term traders: Be cautious of chasing the price higher. Look for signs of weakness (like a failure to hold recent highs) to potentially short-sell. Medium-term traders: Avoid chasing aggressive buying. Look for opportunities to short-sell if the price overshoots or fails to hold prior session highs. Long-term traders: Maintain a bullish bias. If the price pulls back, consider accumulating (buying) near the prior session close or the 8-EMA support level. Lester Davids Analyst: Unum Capital

DOMINANT BUYING FROM OPEN TO CLOSE (DAILY) DOMINANT SELLING FROM OPEN TO CLOSE (DAILY) Lester Davids Analyst: Unum Capital

Strongest/Most Overbought (Daily Time Frame) Weakest/Most Oversold (Daily Time Frame) Lester Davids Analyst: Unum Capital

Trade Old Mutual  with Unum Capital. To get started, email lester@unum.co.za Analyst's Price Action Model at 10h24 Q: What is the overall trend of Old Mutual? A: The overall trend of Old Mutual appears to be weak, with selling pressure evident. However, there is a probability of a small rebound. Q: What is the current 7-day trend? A: The current 7-day trend for Old Mutual is oversold. Q: What is the current 14-day trend? A: The current 14-day trend for Old Mutual is very bearish. Q: Is there any opportunity for a short-term buy/long position? A: Yes, the reward-to-risk is becoming attractive for a small buy/long position. Q: What is the advice for the medium term (2 to 4 weeks)? A: For the medium term, the advice is to wait for lower time frames to stabilize before taking any aggressive selling action. Q: What is the advice for the long term (5 to 8 weeks)? A: The share has been weak however, there is a possibility of a small rebound. Summary: The Old Mutual price action model indicates a weak overall trend with oversold and very bearish short-term trends. Despite this, there's a potential opportunity for a small buy/long position due to the improving reward-to-risk ratio. For the medium term, it's recommended to wait for lower time frames to stabilize before aggressive selling. In the long term, the share has been weak however, there is a possibility of a small rebound. OMU Daily Chart as of Wednesday 15 January at 10h31 Previous Post: OLD MUTUAL Discount Relative To Sector Peers + Emerging From A Technical Base The most appropriate metric to value insurers is 'price to embedded value'. One could also consider price to book, price to earnings and dividend yield. Thursday 05 December 2024 (Time: 10h52) The most appropriate metric to value insurers is 'price to embedded value'. One could also consider price to book, price to earnings and dividend yield. Relative to it's peer group OMU is trading at a discount. OMU Price to Book Value (1.01x) vs SLM at 2.02x and MTM at 1.46x OMU Price to Earnings Ratio (6.5x) vs SLM at 11.9x and MTM at 10.3x OMU Dividend Yield (6.3%) vs SLM at 4.4x and MTM at 4.05x OMU has previously been discussed in the following posts: https://www.unum.capital/post/old-mutual-similar-to-momentum-metropolitan-thursday-01-august-2024 https://www.unum.capital/post/zooming-out-5-monthly-charts-thursday-01-august-2024 Lester Davids Analyst: Unum Capital

Trade JSE Shares  with Unum Capital. To get started, email lester@unum.co.za Spar Group (SPP) Northam Platinum (NPH) Shoprite Holdings (SHP) Lester Davids Analyst: Unum Capital

Trade MTN Group  with Unum Capital. To get started, email lester@unum.co.za Well done to traders who may have capitalized on the move. Original post below (please scroll down). The falling wedge structure has seen strong upside follow-through, with a +1595cmove (8135c to 9730c). Previous Post: MTN GROUP R10 Lower + New Levels of Interest + Falling Wedge Structure Wednesday 27 November 2024 (15h24) The share us R10 lower, with the model having alerted traders to monitor for a failure to hold the highs. Take note of this falling wedge structure on the share Previous Post: 18 September (Real-Time: 13h49) Ticker: MTN Technical Condition and Price Action Probability Daily Chart 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

Access Global ETFs  with Unum Capital. To get started, email lester@unum.co.za IEV offers broad, balanced exposure to European large-cap companies. All eligible securities are screened for market-cap and liquidity standards. The top 350 companies by market-cap will comprise the indexincluding those from outside the Eurozone, in contrast with some peer European funds. The fund may also invest across various sector and industry groups. Selected securities are weighted by market-cap and rebalanced on a quarterly basis. Overall, IEV provides a pure vanilla take on the large-cap segment of the European equity market. AI-Assisted Insights The iShares Europe ETF (IEV) is a popular choice for investors seeking exposure to European equities. Like any investment, it has both potential tailwinds and headwinds that could impact its performance.     Tailwinds Economic Recovery:  A potential economic recovery in Europe, particularly in the Eurozone, could boost corporate earnings and drive stock prices higher. Monetary Policy:  The European Central Bank's (ECB) accommodative monetary policy, including low interest rates and quantitative easing, could support equity valuations. Value Investing:  Many European companies are trading at attractive valuations compared to their historical averages and U.S. counterparts.    Dividend Yields:  European stocks generally offer higher dividend yields than U.S. stocks, which could be appealing to income-seeking investors. Innovation and Growth:  Europe is home to many innovative companies across various sectors, including technology, healthcare, and renewable energy.    Headwinds Geopolitical Risks:  Geopolitical tensions, such as the war in Ukraine and trade disputes, could negatively impact European economies and stock markets. Inflation and Interest Rates:  Rising inflation could lead to higher interest rates, which could hurt the attractiveness of equities relative to bonds. Currency Fluctuations:  The euro's exchange rate against other major currencies, such as the U.S. dollar, could impact the performance of European stocks for foreign investors. Economic Slowdown:  A global economic slowdown could dampen demand for European exports and weigh on corporate earnings. Competition:  Competition from emerging markets could intensify, putting pressure on European companies' profitability. Lester Davids Analyst: Unum Capital

Trade Discovery Ltd  with Unum Capital. To get started, email lester@unum.co.za Points to note (also stated on the chart) Candle structure: momentum being lost + relative distribution MACD negative crossover Previous Post: DISCOVERY Extended Relative To The JSE Top 40 Index The chart reflects a ratio of of DSY relative to the JSE Top 40 Index where the distance versus the 40-week simple moving average reflects an extended level (+29% in December 2024). Note the previous extension coinciding with bearish reversal, or at best, the start of period of consolidation. Previous Post: DISCOVERY Pending Bearish MACD Crossover + Most Overbought Reading in +10 Years Thursday 12 December 2024 (Time: Pre-Market) DSY Discovery Holdings Notes on the slide below Lester Davids Analyst: Unum Capital

DOMINANT BUYING FROM OPEN TO CLOSE (DAILY) DOMINANT SELLING FROM OPEN TO CLOSE (DAILY) Lester Davids Analyst: Unum Capital

Strongest/Most Overbought (Daily Time Frame) Weakest/Most Oversold (Daily Time Frame) Lester Davids Analyst: Unum Capital

Thursday 12 December 2024 (Time: Pre-Market) SBK Standard Bank Notes on the slide below