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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 On 25 May we highlighted the sector getting ready to break out relative to the JSE Top 40 Index. Since then, the sector has strongly outperformed the JSE Top 40 Index. "While the Long-Term trend upgraded back to High Bullish, both Short and Medium-Term momentum metrics have crossed into Overbought territory. The elastic is stretched too far, increasing vulnerability to a sharp pullback." Previous Post (25 May): This Sector: Relative Breakout vs JSE Top 40 Index This chart is important. It highlights the re-emerging strength of JSE Banks relative to the JSE Top 40 Index. Several tests of resistance is looking to break. 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 Domestic financials, regional banks, and selected property counters are supporting the tactical floor, while structural non-energy minerals and precious metal majors are undergoing significant liquidation. A stark multi-timeframe divergence is playing out: short-term participation remains robust with broad price action holding above short-term exponential moving averages (EMAs), yet long-term structural health remains vulnerable as key heavyweights remain pinned below their 200-day simple moving averages (SMAs). This implies a market driven by tactical squeeze dynamics rather than systemic, broad-based capital accumulation. Short-Term Tactical Horizon Price Above 8-day EMA: 101 / 140 Stocks (72.1%) — Strong short-term tactical bid; momentum buyers control the immediate tape. Price Above 21-day EMA: 98 / 140 Stocks (70.0%) — Healthy mean-reversion defense; the short-term uptrend is intact for the majority of issues. Medium-Term Swing Horizon Price Above 75-day EMA: 82 / 139 Stocks (59.0%) — Moderate swing structure; mid-term trends are bifurcated between domestic cyclicals and resource counters. Price Above 21-Week EMA: 78 / 133 Stocks (58.6%) — Acceptable primary swing health, indicating structural accumulation is localized rather than universal. Long-Term Structural Horizon Price Above 200-day SMA: 74 / 139 Stocks (53.2%) — Neutral structural baseline; the broader market is effectively a coin-toss on a long-term horizon. Price Above 50-week EMA: 71 / 133 Stocks (53.4%) — Confirms primary structural consolidation; macro trend leadership remains restricted to narrow clusters. Core Momentum Profile Positive 1-Month Return: 95 / 140 Stocks (67.9%) — Widespread short-term positive returns over the past 20 trading sessions. Positive 3-Month Return: 81 / 140 Stocks (57.9%) — Medium-term persistence shows rolling distribution taking place under the surface. *Note: Moving average calculations exclude specific instruments (such as CNP, CCD, EXP, ISO, OPA, RBO, and WVR) across select horizons due to insufficient historical duration or listing 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 Free Content: Summary: Banks have broken out as the absolute focal point of extreme near-term price extension this week, surging into an Overbought (#1) 🟥 relative state across both their Short and Medium-Term horizons, while maintaining a High Bullish Momentum (#2) 🟧 Long-Term structural anchor against the JSE Top 40. Luxury Goods joins them at maximum extension limits, holding an Overbought (#1) 🟥 Medium-Term posture. The velocity engine remains exceptionally powerful across Insurers, Telecoms, Chemicals, and Consumer Discretionary, with Insurers sweeping their intermediate frames into High Bullish Momentum (#2) 🟧 states, and Consumer Discretionary rapidly accelerating its near-term profile into a High Bullish Momentum (#2) 🟧 outperformance spread. Defending their intermediate trend repairs, Consumer Staples and Hospitals have solidified clean back-to-back Strong (#3) 🟩 prints across their Short and Medium-Term horizons. Conversely, Diversified Miners have suffered a sharp technical deceleration, plunging into Weak (#5) short-term underperformance despite holding onto a Strong (#3) 🟩 long-term base. The precious metals block shows a renewed deterioration out of terminal zones, with both Gold Miners and Platinum Miners rolling over into a uniform Weak (#5) position across their shorter scales. Finally, structural capital destruction remains heavily pinned to the bottom of the board, where Technology and Paper & Pulp are locked into a High Bearish Momentum (#6) Long-Term regime. Tactical Synthesis & Relative Market Update The Overbought Peak: Banks and Luxury Goods have concentrated maximum operational pressure into the Overbought (#1) tier. For Banks, this stretching covers both weekly and monthly parameters, highlighting a state of total near-term statistical exhaustion. The High-Velocity Core: Momentum remains heavily tilted toward domestic expansion lines. Insurers demonstrate robust synchronization across Short and Medium-Term horizons within a High Bullish Momentum (#2) regime. This high-velocity block is strongly reinforced by Consumer Discretionary, which has successfully converted intermediate strength into an immediate, near-term High Bullish Momentum (#2) price expansion. Steady Consumer Defensives: Consumer Staples and Hospitals serve as highly stable outperformance channels, carrying synchronized, dual-horizon Strong (#3) signatures across their Short and Medium-Term metrics to override any lagging long-term structures. The Resource Reversal: Diversified Miners are undergoing an aggressive top-down momentum fracture. While their Long and Medium-Term configurations still carry a Strong (#3) stamp, the Short-Term profile has suddenly broken down into Weak (#5) underperformance, signaling that a major distribution wave has begun in the near term. Precious Metals Drift: The temporary short-term exhaustion floors previously observed in Gold Miners and Platinum Miners have lifted, but only to settle into a uniform, multi-horizon Weak (#5) configuration across both weekly and monthly tracks, indicating a total absence of an intermediate upward bid. Risks to Current Positioning (Strictly Information-Derived) Banks & Luxury Goods: The presence of double-horizon Overbought (#1) readings in Banks and a highly stretched Medium-Term profile in Luxury Goods marks this outperformance core as extremely vulnerable. Because near-term momentum has reached a statistical ceiling, holding max long positions exposes portfolios to sudden, high-beta mean-reversion shocks. Diversified Miners' Timeframe Fracture: The severe divergence between a Weak (#5) Short-Term print and a Strong (#3) macro structure indicates a top-down trend disconnect. This loss of near-term velocity warns that institutional support has completely dried up at these levels, exposing the long-term horizons to sequential downside revisions. Consumer Counter-Trend Traps: While Consumer Discretionary and Consumer Staples display robust near-term metrics (High Bullish and Strong), they are running directly into long-term, structural Weak (#5) primary baselines. If short-term domestic inflows slow, these recoveries will be highly prone to sudden, violent failures as primary macro trends reassert dominance. Technology & Paper & Pulp Secular Decay: The Neutral (#4) Short-Term stabilization across Tech and Paper & Pulp represents a temporary pause rather than a fundamental change in trend. With their long-term structural foundations heavily pinned to a High Bearish Momentum / Approaching Oversold (#6) footprint, any early long-side positioning faces an active value-trap environment. Lester Davids Senior Investment Analyst: Unum Capital

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 (Saturday, 21 June 2025): Trading BHP Group: Contrarian Opportunity? High Bearish Momentum + Approaching Oversold Lester Davids Senior Investment Analyst: Unum Capital

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 Free Content JSE Ltd (The Exchange Operator, Code: JSE) 🟩 JSE Share: +5.8% Rebound From Buy Re-Entry Range. Move Your Trading Account To Unum Capital Today 🟩 1st and 2nd Target Was Reached. Pullback Provides Buy Re-Entry Opportunity. See Chart + Price Action Model JSE Ltd (JSE) Monitoring for evidence of buy into the 200-day SMA. Expect overshoot to the downside. Provisional range at blue shaded area. JSE Ltd: The Exchange Is Finding Momentum - Monday, 23 September 2024 Pre-Market Ticker: JSE Technical Drivers: (1) Above the 200-day EMA (2) Double break as per the weekly (3) nearing the top of it's 3-year range Fundamental driver: (1) improved business confidence (2) increased trading activity Medium to long term targets: 13600c, 15000c Structure invalidated on a weekly close below 10800c Lester Davids Analyst: Unum Capital

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 Free Content Absa Group (ABG) Previous Post (Thursday 18 June): 🟩1st Target Reached at R248 (Gap Filled). Upside Follow-Through On Cup & Handle Technical Formation Also approaching final target of R252. In fact, the share traded as high as R251.31 on Monday. Previous Post (15 June) 💡Trade Setup: Cup & Handle Formation / Target = R248 to R252 Absa Group (ABG) Last close = 24000c Temporarily invalidated below 23300c Target = Gap at ~24800c and previous swing high at ~25200c On 22 February we alerted clients to a SELL opportunity on a spike into ~R280 to ~R288. The share subsequently declined to R225. 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

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 Shoprite is one of the market's most constructive charts, trading near all-time highs, within a consolidation/pennant formation. Over the medium term, a decisive break out of the pennant formation projects a target of R340. This view is temporarily invalidated on a weekly close below R280. SHP WEEKLY CHART BELOW: Previous Post (22 April): Take Profits on Shoprite: Running 12% On 12 December our note (via a video comment) alerted you to the R259 - R263 as a buy re-entry range. The share tested this level on several occasions, offering multiple opportunities to accumulate. If you are a short term trader, consider taking profits. Previous Post: 12 December 2025 Shoprite 🎥Video: Watch R259 to R263 as a Potential Buy Re-Entry Range 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

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 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

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 Free Content: Datatec Ltd (DTC) Current level (price at time of writing): 8548c Stop-loss: 7820 Target: R100 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

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 Free Content Also approaching final target of R252. In fact, the share traded as high as R251.31 on Monday. Previous Post (15 June) 💡Trade Setup: Cup & Handle Formation / Target = R248 to R252 Absa Group (ABG) Last close = 24000c Temporarily invalidated below 23300c Target = Gap at ~24800c and previous swing high at ~25200c On 22 February we alerted clients to a SELL opportunity on a spike into ~R280 to ~R288. The share subsequently declined to R225. 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

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 Free Content Nedbank Group (NED). Today's high (thus far) = R277.11. Well done to clients who took advantage of the opportunity to trade. Previous Post (Monday 15 June) 💡JSE Trade Setup: Double Bottom Pending Trigger at ~R262 The share is attempting to emerge from a double bottom formation where the 2x lows are ~R251. Friday's candle was initially positive but was capped by the declining 75-day EMA. We could however see the share making another attempt to clear this level. Last close at 26050c. Trigger = R262 Temporary invalidated below R254 Target = R275 to R278 We highlighted the downside risk in NEDBANK at R309 on 26 February, with the price action model clearly measuring the (then) reward-to-risk. The share trade from R309 to the recent low of R251. 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

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 Free Content: Based on prior day's session/close. 1. Balanced Momentum Expansion Profile: Across the 140-stock universe, 31.43% of equities operate within an aggressive bull velocity phase (combining Rank #1 Overbought and Rank #2 High Bullish Momentum). While still pointing to a strong upward bias, the true percentage reveals a slightly healthier, less unsustainably top-heavy tape than initially calculated. 2. Managed Overextension Risk: A measurable 13.57% of the market (19 counters) has extended deep into Regime #1 (Overbought). This represents a distinct tactical warning layer, indicating that nearly one in seven listings is dealing with extreme short-term chase behavior and sits firmly in the "At/approaching sell or reduce" bracket. 3. Dominant Bullish Undercurrent: The aggregate structural health of this market remains skewed upward. Summing all tiers maintaining prints above the 58-level (Regimes #1, #2, and #3) yields 49.29% of the entire 140-stock universe. Practically half of the tape is holding a clear, active short-term uptrend. 4. Massive Liquidity Core in Neutral Territory: The primary anchor point of the market remains Regime #4 (Neutral), commanding 29.29% of all components (41 stocks). This represents a substantial block of stabilizing capital that is either quietly consolidating or pausing between structural legs, acting as a massive buffer against sharp index pullbacks. 5. Contained Downside Caps Systemic Risk: Severe structural decay remains highly isolated. The combined weight of names dropping into High Bearish Momentum or absolute Oversold territory registers at a mere 4.28% of the market (6 stocks total out of 140). The lack of widespread liquidation indicates a safe background corporate environment. 6. Outliers in Under-the-Hood Intraday Accumulation: Looking at velocity relative to the daily open, SOLBE1 (BEE - Sasol Limited) prints the most extreme institutional buying squeeze, climbing +14.29% from its open point, signaling massive localized intraday demand. 7. Pockets of Sharp Intraday De-risking: Conversely, intense distribution patterns are actively sorting the weak links. Sasol Limited (SOL) suffered an intense intraday wash-out, plummeting −9.21% from its opening bell print, closely trailed by Thungela Resources (TGA) shedding −7.22% from open. 8. High-Beta Performance Dispersion: Broad structural breadths show deep internal divergence within identical sectors. In Energy Minerals, while certain offshoots show signs of life, the flagship producers like SOL and TGA are mired in localized momentum downtrends, emphasizing that simple thematic or sector-wide ETF indexing masks significant individual asset risk. 9. Strong Capital Safe-Haven Rotations: Defensively positioned sectors are absorbing steady, structured institutional inflows. Highly liquid bank and financial anchors like FirstRand (FSR), Nedbank (NED), and Standard Bank (SBK) have flooded into the absolute Overbought tier, revealing where large-scale capital is crowding for yield and earnings stability. 10. Final Structural Health Diagnostic: With nearly 50% of the market holding positive velocity profiles and only a tiny 4.28% in true technical distress, the path of least resistance for the broad market remains higher. However, with the Weak tier sitting at 17.14%, stock selection is vital. Active tactical managers should focus on buying shallow pullbacks in the 25 Strong names, while strictly taking profit on names entering the Overbought tier. Lester Davids Senior Investment Analyst: Unum Capital