Search this site

Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: June 2026 > https://www.unum.capital/post/rjune2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Provisional Buy Re-Entry : R515 to R495 Stop-loss: R460 Target: Open READY TO TRADE: ACTIONABLE AREAS For active traders who look to generate cash flow on a continuous basis, determining the ‘next best probability’ level to execute against may be of immense value, specifically by helping to determine the best potential times and levels to commit capital. The blue and red horizontal lines on the chart represent a next-best-probability buy re-entry range and a next-best-probability sell re-entry range over the short term. The ranges assume no existing position is being held by a trader, while the probabilities are based on several factors, which may include: Short-term ratings and medium-term regimes Momentum indicators Horizontal or diagonal support and resistance Candle structure Moving averages and standard deviation Please note that these are short-term levels and may contrast with medium- and long-term outlooks, which are based on the weekly and monthly charts and are generally more applicable to long-term investors. These levels are subject to change based on market sentiment, subsequent price action, and company/sector-specific or macroeconomic news flow. As always, while the levels are outlined to guide your capital deployment, traders should be prepared to adjust in real-time based on the aforementioned factors. THE TACTICAL TRADING GUIDE (PRICE ACTION MODEL): UNCOVER OPPORTUNITIES & ASSESS REWARD-TO-RISK It helps helps clients determine and shed light on the some of the following: The CURRENT TECHNICAL POSITION and a PRICE ACTION PROBABILITY for multiple time frames. Three (3) ‘trading’ time frames are considered: Short Term (1 to 10 days) / Medium Term (2 to 4 weeks) and Long Term (5 to 8 weeks) Whether the reward-to-risk is attractive for a buy/long position Whether a share is weak. In this case, wait until the price stabilizes before looking to enter (i.e. want until it stops going down) Whether aggressive buying is underway. In this case, do not ‘chase’ (do not buy) but instead wait for a pullback to re-enter a buy or an overextension with deteriorating candle structure to sell/short. 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 or before continuing it’s bullish or bearish trend 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. The data set is available in real-time (on request) The readings are subject to change as the price action develops. Lester Davids Senior Investment Analyst: Unum Capital

Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: June 2026 > https://www.unum.capital/post/rjune2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Lester Davids Senior Investment Analyst: Unum Capital

Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: June 2026 > https://www.unum.capital/post/rjune2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Previous Post (28 May): U.S Dollar Index Lester Davids Senior Investment Analyst: Unum Capital

Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: June 2026 > https://www.unum.capital/post/rjune2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Bid Corp Previous Post (15 January) Bid Corp: Improving Candle Structure In An Oversold Range + Relative Distance at Extremes Most recently, the share gave us a trading opportunity for a 5% tactical rebound. Longer term, the share, on a relative basis, is trading at extremes vs it's 200-day moving average. Indicator: 200-Day Moving Average Distance (Relative) Current Reading: -23.98% DOMINANT TREND: ACCELERATED UNDERPERFORMANCE The BID/J200 ratio has entered a parabolic descent. The breakdown below the 2020 "Covid-low" support levels indicates a major structural shift. Bid Corp is currently decoupled from the broader market strength of the JSE Top 40, signaling intense selling pressure on a relative basis. STATISTICAL EXTREME (MA DISTANCE) At ~24% below its 200-day Moving Average, the stock is at its most extended "oversold" state in over a decade. Historically, deviations beyond 15-18% are rare for this pair; the current reading represents a 3-standard deviation event from the mean. MEAN REVERSION POTENTIAL The "Rubber Band" theory suggests a high probability of a snap-back rally. In 2018, 2020, and 2022, similar (though less extreme) extensions resulted in sharp periods of outperformance. However, the current vertical drop suggests the "mean" itself is now falling rapidly, which can dampen the magnitude of the eventual recovery. REWARD-TO-RISK RATIO Upside: Potential 24% relative gain if the ratio returns to its 200-day equilibrium. Downside: Low technical visibility. Until the price flattens, the "floor" remains theoretical. Verdict: Mathematically favorable for long-term contrarians, but high-risk for short-term traders due to lack of price stabilization. STRATEGIC OUTLOOK: MONITOR FOR EXHAUSTION The current price action represents "capitulation." Tactical investors should look for the MA_dist indicator to cross back above the -20.00 threshold as a signal that the selling climax has peaked. Avoid front-running the turn until the daily candle shows a reversal pattern. Previous Post (18 December): Short Term Traders, Grab This +5% on Bid Corp (Take Profit) The share has started to follow the 'potential price path'. Short term traders, take profit on this +5% move. Medium term traders, hold and raise your stop-loss for potentially further gains. Previous Post (19 November): Bid Corp: Early Buy Trigger (Lower Time Frame); Lower Levels Expected Before Potential Rebound Lester Davids Senior Investment Analyst: Unum Capital

Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: June 2026 > https://www.unum.capital/post/rjune2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Analyst Disclosure: The graphic below was produced using an artificial intelligence tool, based on my own data. Lester Davids Senior Investment Analyst: Unum Capital

Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: June 2026 > https://www.unum.capital/post/rjune2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Previous Post (12 May): JSE Mining Share: Massive Winner For Unum Clients, Now With An Early 'Caution' Signal🟥 BHP Group from 41800c to 71400c. Now, see the price action model reading. READY TO TRADE: ACTIONABLE AREAS For active traders who look to generate cash flow on a continuous basis, determining the ‘next best probability’ level to execute against may be of immense value, specifically by helping to determine the best potential times and levels to commit capital. The blue and red horizontal shaded areas on the chart represent a next-best-probability buy re-entry range and a next-best-probability sell re-entry range over the short term. The ranges assume no existing position is being held by a trader, while the probabilities are based on several factors, which may include: Short-term ratings and medium-term regimes Momentum indicators Horizontal or diagonal support and resistance Candle structure Moving averages and standard deviation Please note that these are short-term levels and may contrast with medium- and long-term outlooks, which are based on the weekly and monthly charts and are generally more applicable to long-term investors. These levels are subject to change based on market sentiment, subsequent price action, and company/sector-specific or macroeconomic news flow. As always, while the levels are outlined to guide your capital deployment, traders should be prepared to adjust in real-time based on the aforementioned factors. THE TACTICAL TRADING GUIDE (PRICE ACTION MODEL): UNCOVER OPPORTUNITIES & ASSESS REWARD-TO-RISK It helps helps clients determine and shed light on the some of the following: The CURRENT TECHNICAL POSITION and a PRICE ACTION PROBABILITY for multiple time frames. Three (3) ‘trading’ time frames are considered: Short Term (1 to 10 days) / Medium Term (2 to 4 weeks) and Long Term (5 to 8 weeks) Whether the reward-to-risk is attractive for a buy/long position Whether a share is weak. In this case, wait until the price stabilizes before looking to enter (i.e. want until it stops going down) Whether aggressive buying is underway. In this case, do not ‘chase’ (do not buy) but instead wait for a pullback to re-enter a buy or an overextension with deteriorating candle structure to sell/short. 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 or before continuing it’s bullish or bearish trend 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. The data set is available in real-time (on request) The readings are subject to change as the price action develops. Lester Davids Senior Investment Analyst: Unum Capital

Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: June 2026 > https://www.unum.capital/post/rjune2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Summary: Banks continue to anchor the absolute peak of the JSE Top 40 relative performance spectrum, sustaining an extreme Overbought (#1) 🟥 Medium-Term state flanked by High Bullish Momentum (#2) 🟧 across its Short and Long-Term horizons. The premium financial block remains a primary velocity engine, with Insurers sweeping their intermediate frames into synchronized High Bullish Momentum (#2) 🟧 outperformance spreads. Meanwhile, former core leaders Telecoms and Chemicals have experienced a sharp near-term deceleration, falling from High Bullish to a market-performing Neutral (#4) ⬜ Short-Term state. Defending their intermediate trend repairs, Consumer Discretionary maintains clean back-to-back Strong (#3) 🟩 prints across its Short and Medium-Term horizons, while Consumer Staples has cooled slightly to a Neutral (#4) ⬜ Short-Term profile but holds a Strong (#3) 🟩 structural base. On the cyclical front, Diversified Miners face continued momentum decay, slipping into Weak (#5) 🟨 short-term underperformance. The precious metals block shows persistent near-term deterioration, with both Gold Miners and Platinum Miners remaining pinned in uniform Weak (#5) 🟨 regimes across their shorter scales. Structural capital destruction remains isolated at the bottom, where Technology and Paper & Pulp are locked in Weak (#5) 🟨 near-term trends built atop severely damaged long-term foundations. Tactical Synthesis Financials at the Peak: Banks have concentrated maximum operational pressure into the top tier, exhibiting a highly stretched Medium-Term Overbought (#1) reading flanked by dual High Bullish Momentum (#2) signals. Insurers mirror this robust strength, achieving synchronized High Bullish Momentum (#2) across their Short and Medium-Term metrics. Momentum Cooling in the Core: The previously unassailable momentum of Telecoms and Chemicals is fading. Both sectors have downshifted into a Neutral (#4) Short-Term profile, indicating that immediate institutional buying pressure has dried up, forcing a localized digestion phase. The Consumer Rotation Holds: Consumer Discretionary continues to successfully defend its near-term recovery, printing a robust Strong (#3) profile across both short and medium timeframes despite a fundamentally broken long-term trend. Consumer Staples and Luxury Goods also maintain strong structural bases, with Staples consolidating at Neutral (#4) in the short term. Cyclical Distribution Deepens: Diversified Miners and Coal Miners are experiencing active near-term distribution, with both sectors falling into Weak (#5) short-term underperformance profiles. This top-down fracture signals fading immediate interest in resource cyclicals. Broad Weakness Unchanged: The bottom half of the board—including Gold Miners, Platinum Miners, Technology, and Paper & Pulp—shows no signs of imminent recovery, uniformly logging Weak (#5) metrics on their Short and Medium-Term horizons. ⚠️Risks to Current Positioning Financials Overextension vs. Rate Realities: The highly stretched Overbought (#1) profile in Banks leaves the sector exceptionally vulnerable to a sudden, high-beta mean-reversion shock. With the South African Reserve Bank recently raising the repo rate to 7.00% (pushing the prime lending rate to 10.50%) due to inflation risks from energy shocks and the Middle East conflict, the real-world squeeze on consumer debt servicing may begin to clash with these peak equity valuations. Consumer Discretionary Value Trap: The Strong (#3) intermediate outperformance across Consumer Discretionary is fighting a severe, long-term secular markdown phase (Weak (#5)). Given that CPI remains elevated at 4.5% driven by a near 29% annual rise in fuel prices, domestic consumer relief flows may peak abruptly, threatening a rapid collapse of this sector back into its long-term primary downtrend. Resource Momentum Failure: The breakdown of Diversified Miners into a Weak (#5) Short-Term print while maintaining a Strong (#3) macro structure indicates a dangerous top-down trend disconnect. This loss of near-term velocity warns that institutional support has eroded at current levels, exposing the long-term horizons to sequential downside revisions if global demand continues to flag. Secular Decay in Tech and Materials: With Technology and Paper & Pulp firmly anchored to Weak (#5) near-term trends atop deeply compromised High Bearish Momentum / Approaching Oversold (#6) or Oversold (#7) long-term baselines, these sectors remain active falling knives, posing severe capital destruction risks for premature bottom-fishers. Lester Davids Senior Investment Analyst: Unum Capital

Premium Content > https://www.unum.capital/post/premiumcontent Free Content: June 2026 > https://www.unum.capital/post/rjune2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Lester Davids Senior Investment Analyst: Unum Capital

Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: June 2026 > https://www.unum.capital/post/rjune2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Short-Term Trajectory Tracker (Recent Weeks) Tracking short-term momentum path: Jun 08 → Jun 12 → Jun 17 → Jun 19 → Jun 23 Insurers: Strong → Strong → Strong → High Bullish → High Bullish (Dominant Leader) Banks: Strong → Strong → Strong → Overbought → High Bullish (Healthy Consolidation) Luxury Goods: High Bullish → High Bullish → Strong → High Bullish → Strong (Cooling Off) Cons Disc: High Bullish → High Bullish → Strong → High Bullish → Strong (Stabilizing) Cons Staples: Strong → Neutral → Neutral → Strong → Neutral (Breather after LT Upgrade) Telecoms: Strong → Strong → Weak → Strong → Neutral (Losing ST Momentum) Hospitals: Neutral → Weak → High Bearish → Strong → Neutral (Violent Bull Trap) Chemicals: Strong → Neutral → High Bearish → Neutral → Neutral (Prolonged Pause) Div. Miners: Neutral → Strong → Neutral → Weak → Weak (Bearish Reversal) Coal Miners: High Bullish → Weak → High Bearish → Neutral → Weak (Further Breakdown) Technology: Strong → Weak → Weak → Neutral → Weak (Resuming Downtrend) Gold Miners: High Bearish → Weak → Strong → Weak → Weak (Languishing) Platinum Miners: High Bearish → Weak → Strong → Weak → Weak (Languishing) Paper & Pulp: Weak → Weak → Weak → Neutral → Weak (Relentless Distribution) Lester Davids Senior Investment Analyst: Unum Capital

Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: June 2026 > https://www.unum.capital/post/rjune2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za Alert at $52 (Published for free on this website). Now, less than a year later, it trades at $100. Viking Holdings (NYSE: VIK) is a global leader in experiential travel, operating a premium fleet of over 100 river, ocean, and expedition vessels. Previous Post (30 June 2025): Global Idea: Viking Holdings - Bullish Momentum & Breakout Potential Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. Buy on pullbacks Target: $65 Stop-loss = a weekly close below $45 Last close: $52.72 Lester Davids Senior Investment Analyst: Unum Capital

Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: June 2026 > https://www.unum.capital/post/rjune2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za BWX Technologies (NYSE: BWXT) operates with one of the deepest economic moats in the industrial sector, built on extreme regulatory barriers, specialized manufacturing, and long-duration government monopolies. Buy $200.00 TO $205.00 Stop-loss: $175.00 Target(s): $255.00 Code: BWXT Source of Text Below: Gemini Lester Davids Senior Investment Analyst: Unum Capital

Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities Free Content: June 2026 > https://www.unum.capital/post/rjune2026 Trade Local & Global Financial Markets with Unum Capital. To get started, email tradingdesk@unum.co.za NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Glencore Plc: (GLN): If you held onto the short/sell idea, then you are in the money by over 13% (see previous notes below). For now, it remains a 'sell on rally' but any deeper pullback toward the rising 200-day simple moving average/50-week EMA would offer long term bulls an opportunity to re-engage. Provisionally, the 9900c to 10400c range aligns with support and the aforementioned moving averages. Previous Post (19 June): Take Profit on Glencore Plc. 8% Gain vs Sell Re-Entry Range We've had to be patient with Glencore as the price took a few weeks to reach our sell- re-entry range. Once there, we saw an immediate rejection and bearish reversal for a 8% move on the downside. If you are a short term trader, consider taking (partial) profit on this move. Previous Post (30 March)💡Further Comment: Glencore Plc - A Poor Buy/Long Reward-To Risk. Higher Levels Expected Before Bearish Reversal I'm adding the Price Action Model - take with a 15-minute delayed price. Previous Post: How To Trade Glencore Plc (GLN) Published Sunday 29 March for Monday, 30 March. An existing buy/long idea from 6547c (see chart reference), the share reached our long term target of 9400c (the 200-week SMA). Since then, the upward momentum has continued with the share outperforming it's JSE-listed peers and trading above R120. On the monthly time frame, the share is trading in an 'OVERBOUGHT' range. On the weekly, a 'HIGH BULLISH MOMENTUM / APPROACHING OVERBOUGHT' regime is in place while on the daily time frame, a 'STRONG' regime is in place. An upside extension from current levels is likely to place the share in an OVERBOUGHT range on the weekly and monthly time frames and 'APPROACHING OVERBOUGHT on the daily time frame. What's the risk of buying now? Overbought conditions could start to come into play. What's the risk of sell now? Strong upward momentum can remain in place longer than anticipated. READY TO TRADE: ACTIONABLE AREAS For active traders who look to generate cash flow on a continuous basis, determining the ‘next best probability’ level to execute against may be of immense value, specifically by helping to determine the best potential times and levels to commit capital. The blue and red horizontal lines on the chart represent a next-best-probability buy re-entry range and a next-best-probability sell re-entry range over the short term. The ranges assume no existing position is being held by a trader, while the probabilities are based on several factors, which may include: Short-term ratings and medium-term regimes Momentum indicators Horizontal or diagonal support and resistance Candle structure Moving averages and standard deviation Please note that these are short-term levels and may contrast with medium- and long-term outlooks, which are based on the weekly and monthly charts and are generally more applicable to long-term investors. These levels are subject to change based on market sentiment, subsequent price action, and company/sector-specific or macroeconomic news flow. As always, while the levels are outlined to guide your capital deployment, traders should be prepared to adjust in real-time based on the aforementioned factors. THE TACTICAL TRADING GUIDE (PRICE ACTION MODEL): UNCOVER OPPORTUNITIES & ASSESS REWARD-TO-RISK It helps helps clients determine and shed light on the some of the following: The CURRENT TECHNICAL POSITION and a PRICE ACTION PROBABILITY for multiple time frames. Three (3) ‘trading’ time frames are considered: Short Term (1 to 10 days) / Medium Term (2 to 4 weeks) and Long Term (5 to 8 weeks) Whether the reward-to-risk is attractive for a buy/long position Whether a share is weak. In this case, wait until the price stabilizes before looking to enter (i.e. want until it stops going down) Whether aggressive buying is underway. In this case, do not ‘chase’ (do not buy) but instead wait for a pullback to re-enter a buy or an overextension with deteriorating candle structure to sell/short. 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 or before continuing it’s bullish or bearish trend 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. The data set is available in real-time (on request) The readings are subject to change as the price action develops. Lester Davids Senior Investment Analyst: Unum Capital