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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 Free Content: As mentioned: "....The index also remains vulnerable to a drop back below it's 200-day simple moving average..." On Monday, the index sold off sharply, dropping below it's 200-day SMA with a 2.48% decline. Previous Post (26 May) Monday's strong rebound off the 200-day simple moving average saw no immediate upside follow-through on Tuesday as the index close lower by 0.20%, though near the highs of the previous day. The index remains capped by it's flat 21-day and 75-day exponential moving averages (EMA), but above it's 8-day EMA. Over the medium term, a series of lower highs tell the story of a tape largely controlled by sellers with buyers making minor attempts to regain control. The index also remains vulnerable to a drop back below it's 200-day simple moving average which would be the 1st real sign that traders are starting to take a defensive stance following strong gains throughout 2025. What's it going to take to change the story from neutral to bullish? Strong price action, a reclaim of the short term moving averages as well as a print/close above 110,000. 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 Free Content Note: When published intraday, JSE equity prices are delayed by 15-minutes. 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 For years, our research has given clients some of the best opportunities, both locally and globally. In terms of ETFs and related themes, we have been at the forefront of some of the biggest moves, for example, we have given you (for free): Copper Metals & Mining Uranium Silver Gold Artificial Intelligence Power Infrastructure Steel Robotics Autonomous Driving Energy / Oil Rhodium Palladium Country ETFs e.g. Brazil, Norway, Japan, Peru European Financials Biotechnology And More..... Now, scanning for the next set of opportunities, this ETF has showed up on my screeners and has caught my attention. With many themes and ETFs being overextended (offer a poor reward-to-risk), this one is shaping up, like many of the prior setups: a big base with re-emerging strength i.e. improving price action. Trade Details: Buy at $88.00 or lower Stop-loss: $78.20 Target: $113.00 The ticker is available to active trading clients i.e. who have participated in any of the previous ideas (listed above). 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 Free Content Note: When published intraday, JSE equity prices are delayed by 15-minutes. Lester Davids Senior Investment Analyst: Unum Capital

Navigating the markets is rarely easy, and we would never claim to have all the answers, but we do work incredibly hard to understand the trends, identify risks and uncover opportunities. We've noticed that you're not yet a client but have been following our public research, and having produced over 880 free research notes year-to-date, we sincerely hope they have brought real value to your own financial journey. For R700 a month, you can access our watchlists, trading notes, flash charts and chart packs. As always, we'll keep doing our best to provide insights you can count on, whether you subscribe or simply continue reading our free updates. And naturally, if our work ever inspires you to take the next step, we would still love the opportunity to have you on board as an official client. To access our free research (June 2026), visit the following link > https://www.unum.capital/post/rjune2026 🟩Monday 01 June: Chart Pack (PDF) - June 2026 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 DAX-Listed SAP Previous Post (16 April): Global Idea: DAX-Listed SAP is a Long Term Buy Candidate KEY TAKEAWAY: 🟢 BUY LONG CANDIDATE | SAP is making a powerful attempt at a bullish reversal following a period of intense structural selling pressure; while the macro setup has officially triggered a long accumulation signal, active traders should manage entries carefully as the initial thrust has driven ultra-short-term momentum into overbought territory. Disclosure: The above paragraph was generated with an artificial intelligence tool supported by inputs/data from the analyst. Lower levels expected before macro/long term oversold rebound and recovery Buy between €137.00 and €144.00 Stop-loss: €126.00 Target(s): €185.00 Code: SAP Analyst's Price Action Model: Disclosure: The graphic below was generated with an artificial intelligence tool supported by inputs/data from the analyst. Lester Davids Senior Investment Analyst: Unum Capital

📍 This is a permanent page and will continue to be updated with fresh content. Navigating the markets is rarely easy, and we would never claim to have all the answers, but we do work incredibly hard to understand the trends, identify risks and uncover opportunities. We've noticed that you're not yet a client but have been following our public research, and having produced over 880 free research notes year-to-date, we sincerely hope they have brought real value to your own financial journey. On this page we intend to keep things brief, after all, sometimes it does not require long-form notes to get the point across—just the right data at the right time. If we’ve managed to earn your confidence and you'd like to see a bit more of our behind-the-scenes work, we’d be honored to share it with you. For R700 a month, you can access our watchlists, trading notes, flash charts and chart packs. As always, we'll keep doing our best to provide insights you can count on, whether you subscribe or simply continue reading our free updates. And naturally, if our work ever inspires you to take the next step, we would still love the opportunity to have you on board as an official client. To access our free research (June 2026), visit the following link > https://www.unum.capital/post/rjune2026 Monday 01 June: Momentum Dashboard 🟩Monday 01 June: Chart Pack (PDF) - June 2026 🟩Thursday 28 May 08h57: Results from our global screeners: Where is the money flowing? The screeners paint a picture of a... / (1) Sector Ranking & Associated Stocks / (2) Macro Outlook & Professional Capital Allocation / (3) Most Prominent Countries on the Screeners / (4) Overall: What do the screeners say about the Global Economy? / (5) Industry Frequency Across Screener 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 Premium Content Note: When published intraday, JSE equity prices are delayed by 15-minutes. 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 Free Content Note: When published intraday, JSE equity prices are delayed by 15-minutes. Investec Ltd (INL) | A two-year base, near all time highs has been developed which reflects stable institutional accumulation. A continuous test of the ~R144 level combined with an inverse head and shoulder technical formation reflects the persistence of buyers. Measured move target = 16900c. Temporary failure is a weekly close below 12800c. 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

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 Free Content Note: When published intraday, JSE equity prices are delayed by 15-minutes. Woolworths Holdings (WHL) This is a view of the weekly chart, which considers portfolio positions. Short term tactical views may differ. 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

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 Free Content: Satrix RESI (STXRES) is undergoing a severe tactical correction following a historic, uncorrected parabolic advance. After printing a violent top-tick rejection near the 18,000c boundary, the price has transitioned into a sharp distributive washout, breaking immediate market structure to search for a durable macroeconomic floor around the 13,107c level. This phase has aggressively cooled extreme overextension, dragging intermediate metrics out of the froth and into baseline zones. However, with daily momentum definitively piercing below the critical neutral bounds, the immediate term is dominated by supply. This structure demands extreme tactical patience from allocators, favoring a defensive posture until a definitive, volume-backed structural higher-low is established to confirm the corrective phase is exhausted. 🟨 Macro Digestion | The asset is absorbing a deep structural pullback from historic parabolic extension, reverting violently toward its long-term moving averages to restore technical equilibrium | 🟥 Tactical Washout | Daily momentum has slipped through the floor into weak territory, confirming that immediate-term supply is currently overpowering institutional demand | 🟢 Mean-Reversion Support | Price is approaching deep historical change-of-polarity levels, offering a potential high-margin-of-safety accumulation window once short-term momentum stabilizes. 🟨 Macro Digestion | 🟥 Tactical Washout | 🟢 Mean-Reversion Watch Primary State: Absorbing a severe tactical correction from recent all-time highs, breaking short-term market structure to retest deeper macro baselines with the last close at 13,107c. Monthly Pulse: The Monthly momentum registers as Strong, indicating the overarching secular bull market remains intact despite the violent top-tick rejection. Weekly Tactical Momentum: The Weekly momentum has cooled significantly, dropping cleanly into Neutral territory, reflecting a necessary but aggressive intermediate-term digestion of prior parabolic gains. Daily Momentum: The Daily momentum has slipped into Weak territory, directly violating the lower boundary of the neutral zone, confirming immediate short-term supply is currently in control. Exhaustion Warnings: The rapid descent from the peak has completely relieved long-term overbought pressures, but the lack of daily bullish momentum warns that the corrective phase may still be vulnerable to localized flushes before finding a true bottom. Thesis Summary: STXRES is executing a classic "Macro Digestion" and "Tactical Washout" phase following an extreme vertical extension. The asset is actively searching for a durable structural floor. While the macro trend is secure, the short-term profile is heavily damaged. Strategy: Core macro holders must weather the volatility by relying on deep structural stops. For tactical deployment, exercise absolute patience; wait for daily momentum to reclaim the neutral-to-strong zones before attempting to catch the falling knife. Reward-to-Risk (R:R) Dynamics: The Immediate LONG: High-Risk. Catching a falling asset with weak daily momentum carries highly negative expectancy. The Tactical SHORT: Moderate. The easiest short money has already been made; chasing the downside here risks getting caught in a violent mean-reversion bounce. The Structural LONG: Pending. Highly favorable once a definitive weekly higher-low is established on the chart. Fair Value Support: Immediate structural support is clustered near the 12,000c to 12,500c zone, representing a dense prior accumulation ledge before the final parabolic thrust. Structural Floor: The definitive macro structural floor remains anchored significantly lower, near the 9,000c to 10,000c multi-year breakout baseline. Support Zone Mapping: Immediate Tactical Support (The Local Ledge): 12,000c – 12,500c. The critical line of defense holding the current washout. Secondary Support Shelf (The Major Baseline): 10,500c – 11,000c. The deep change-of-polarity axis. Primary Macro Support (The Secular Floor): 9,000c – 10,000c. The foundational cyclical base. Extension Target: A successful mean-reversion bounce must first clear immediate local overhead supply at 14,500c before targeting any retest of the 16,000c lower-high resistance blocks. Structural Price Forecast: The asset is highly likely to map out a prolonged, volatile lateral range between 12,000c and 15,000c to build a new base and allow institutional capital to regather following the shock of the drop. Technical Valuation & Variance Matrix: Estimated Technical Fair Value (TFV) sits near the 11,500c balance point of the previous structural ramp. The premium has been aggressively removed, bringing the asset much closer to its historical mean. Tactical Probability Profile: 🟩 LONG: On successful base-building above 12,000c | 55% Probability. 🟦 LONG: Impulsive Daily Breakout reclaiming 15,000c | 30% Probability. 🟧 SHORT: Tactical continuation of the downtrend below 12,500c | 60% Probability. Macro Risk: A "cascading washout" where the weekly momentum breaks completely down into the weak/high bearish momentum zones, signaling a broader secular regime change rather than just a mid-cycle correction. What Can Change: Structural Failure: A decisive weekly close below 11,000c threatens the entire multi-year bull thesis and forces a total structural reset. Impulsive Re-acceleration: A volume-backed snapback that directly reclaims 15,000c traps aggressive short-sellers and restarts the markup phase. Momentum Churn: Sideways, violent chop between 12,500c and 14,000c to organically reset moving averages over time. Structural Breakdown: 1-Day Structure (Distributive Washout): Displays a clear sequence of lower highs and lower lows, heavily pressured by overhead supply. Weekly Structure (Corrective): Sharp V-top rejection and steep mean-reversion. Monthly Structure (Secular Advance): Still technically printing a higher-low within a massive, intact multi-year up-cycle. Velocity & Slope Analysis: 1-Day Slope (Bearish): Approx. -45 Degrees. A strong, immediate downward trajectory dominating the chart. Weekly Slope (Neutralizing): Flattening violently from steep positive to negative. Secular Slope (Monthly): Approx. +30 Degrees. The macro structural tailwind that continues to underwrite the long-term thesis. Momentum Profile Integration: The Daily tier has dropped directly into weak territory, while the Weekly rests strictly within corrected neutral bounds. The Monthly retains a strong posture. This top-down divergence—weak short-term cascading into strong long-term—is the textbook hallmark of a deep mid-cycle correction. Tactically, capital should remain strictly defensive until the daily timeframe re-establishes a neutral-to-strong momentum profile, confirming the washout is complete. 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

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 Free Content: "...head and shoulder technical formation developing but traders need to remain mindful of the potential for a false breakdown (below the neckline) followed by a reclaim and bullish reversal. Do note that the share is down 38% vs it's peak...the annotation on the chart shows a potential scenario..." Relevant to SSW, VAL, NPH and IMP Lester Davids Senior Investment Analyst: Unum Capital