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Tuesday 17 December 2024 (Time: Pre-Market) 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 DUE TO TIME/CAPACITY CONSTRAINTS, THOSE TIME FRAMES ARE NOT SHOWN HERE .

Monday 16 December 2024 (South African Time / U.S Trading Session) To trade global instruments, you will need an offshore account. To get started, contact the Unum Capital Trading Desk: E-mail: tradingdesk@unum.co.za | Call: 011 384 2923 Previous Post: Tuesday 22 October, 14h25 Ticker: QTUM Constructive technical setup looking to break above multi-month highs. Medium term portfolio buy idea. Source: https://www.defianceetfs.com/qtum/ Lester Davids Analyst: Unum Capital

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

Thursday 12 December 2024 (Time: Pre-Market) 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 DUE TO TIME/CAPACITY CONSTRAINTS, THOSE TIME FRAMES ARE NOT SHOWN HERE .

Tuesday 10 December 2024 (Time: 12h49) Previously, clients were alerted to upside opportunity in the share from much lower levels (below R200, now trading above R276). Approaching Overbought In The Short Term / Unfavorable Long Reward-To-Risk From An Entry Perspective. This remains a turnaround story however, there will be better re-entries on a pullback. PREVIOUS POST: TIGER BRANDS Building Positive Momentum In H2, Turnaround Strategy Gains Traction The food producer has been a given traders a strong return over several months, with various notes having been published to highlight the opportunities and navigate the short, medium and long term views. Having traded at a 5 1/2 year high of 26564c this week, the share is higher by over 33% over a 6-month period (alert 13 June). The initial technical model readings were also highlighted at R144 and R160. The headline of this post has been taken directly from the group's results presentation which encapsulates managements confidence in re-accelerating growth. The following slides from the company's results presentation stood out to me: TBS discussed in the following post, which highlights our model capabilities: https://www.unum.capital/post/systematic-insights-timely-signals-from-the-tactical-trading-guide Previous Post: TIGER BRANDS: Full Target Reached at R242 - Tuesday, 27 August 2024 Pre-Market Bank/Take Profit Yesterday's high = 24995c Lester Davids Analyst: Unum Capital Related Posts: https://www.unum.capital/post/tiger-brands-reducing-into-strength-as-measured-move-nears-monday-26-august-2024 https://www.unum.capital/post/tiger-brands-potential-for-upside-continuation-tuesday-09-july-2024

Tuesday 10 December 2024 (Time: 11h04) Lester Davids Analyst: Unum Capital

Tuesday 10 December 2024 (Time: 10h43) The share is acting in line with the price action model reading as was seen on Friday evening. The reading is time-stamped. Previous Post: THUNGELA RESOURCES Listening To The Price: 'Do Not Chase' Wednesday 03 December 2024 (Time: Pre-Market) For short term/active traders, price is key applying a disciplined but flexible approach to entries and exits can result in continuous cash flow being generate. The share is lower by 1200c since the previous note. The previous post highlighted the short term overbought regime for TGA, with the share having reached a high of 13898c on the day. Following the publication of the note, the end of day model reading via the Tactical Trading Guide was as follows: Short Term (1 to 10 days): "Very strong move. buyers in control but do not chase . The share may fail at it's attempt to hold it's prior session highs. If it does not hold, then the 8-day EMA could be a target" Medium Term (2 to 4 weeks): "Aggressive buying but do not chase . Look for overshoot or failure to hold the prior session highs to short/sell back to the 8-day EMA" For clarity, 'do not chase' means do not buy aggressively at or around the current levels as there is a risk that the price could lose upside momentum. Time-Stamped Model Readings Previous Post: THUNGELA RESOURCES Bullish Target Exceeded; Approaching Short Term Overbought Tuesday 19 November 2024 Share Code: TGA The rising 21-day EMA has served as a spot to re-enter on the buy/long side, following the minor pullbacks. Original buy/long view at 10697c vs yesterday's high of 13898c. Previous Post: Take Profit Friday, 04 October Time Published: 09h20 Ticker: TGA Bank / Take Profit; Full Target Reached Previous Post: Wednesday, 02 October 2024 Published: Pre-Market Share Name: Thungela Resources Ticker: TGA The share is in the money by just over 600c, having reached a 3-week high of R113 during yesterday's session. Previous Post ( Potential Short Term Bullish Reversal) Thursday, 26 September 2024 Published: Pre-Market (07h22) Share Name: Thungela Resources Ticker: TGA Stable price action / improving candles structure Support at prior swing lows Positive open to close during yesterday's trading session Above-average volume, suggesting an increase in buying interest Positive divergence as per the 7 and 14-day Relative Strength Index The share closed at 10692c, however, hold above 10550c is key to maintaining an ultra short term bullish thesis. Setup invalidated below 10220c Potential upside targets: 11420c; 11700c Last close: 10692c Daily Chart, With Levels + Volume Daily Chart, With 7 & 14 RSI highlighting the bullish divergence Model Reading via the Tactical Trading Guide

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

As we move into December, many traders and investors are considering what this month might hold for local stocks. While the past year has been marked by geopolitical tensions, inflation, and high interest rates, there's a glimmer of optimism as December trends suggest a positive outlook for the JSE Top40. This festive period has historically rewarded investors with consistent returns, making December an intriguing time to be in the market. So, what can we expect for December 2024? Let's dive into the trends and historical performance to see what might be in store. I know past performance is no indicator of future performance, and the world is a lot different than it was even a year ago. This year, particularly, investors and traders have had to digest geopolitical conflict, near run-away inflation and high interest rates.   On the positive side, elections both at home and in the US have allowed for some optimism to creep back into markets. As mentioned, the last 6 years have, more often than not, produced good returns on the JSE Top40 looking back at the data. December performance December 2018 +4.63% December 2019 +3.51% December 2020 +3.83% December 2021 +4.67% December 2022 -2.35% December 2023 +1.22% December 2024 ? With December returns rewarding investors with gains five out of six years over the festive period, it may just be worth the gamble to follow the trend. We don’t know what December 2024 holds, but looking at the history, the real risk lies in NOT being in the market. Without going into a deep dive into what sectors outperformed, the illustration is simply that if one purely held the index, you would have enjoyed healthy returns every Christmas since 2018. Consideration. It is important to note that December trading volumes are usually considerably lower. This means we have fewer market participants driving stock prices. This can be an advantageous time for investors and traders alike and could be a reason that the festive season trading period provides such a window of opportunity. Looking at the historical data, the trend of positive December returns seems to suggest that being in the market could be a profitable strategy, even in a year marked by uncertainty. However, it's essential to remember that lower trading volumes during this period present both risks and opportunities. To stay ahead of market movements and capitalise on the festive season’s potential, visit Unum Capital's website for more insights, expert analysis, and strategies to guide your investment decisions in December. Here’s to profitable trading, Robby P

Tuesday 10 December 2024 (Time: Pre-Market) Over a period of 6 months, the STXFIN (Financials) is higher by 30% while the STXRES (Resources) is lower by 3.72%. For traders who employ a market neutral strategy, this may be an opportunity to sell Financials and buy Resources. Related Posts: BHG https://www.unum.capital/post/bhp-group-in-terms-of-relative-positioning-this-chart-is-important EXX https://www.unum.capital/post/exxaro-resources-a-positive-response-to-the-fd-s-pre-close-message Lester Davids Analyst: Unum Capital

Price Action Readings Worth Noting Tuesday 10 December 2024 (Time: Pre-Market) Data as of yesterday's close. ABOUT THE TACTICAL TRADING GUIDE: Lester Davids Analyst: Unum Capital

Tuesday 10 December 2024 (Time: Pre-Market) Lester Davids Analyst: Unum Capital