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Research Notes April 2026 > https://www.unum.capital/post/rapril2026 Trade   Local & Global Financial Markets with Unum Capital. If you've been a consumer of our research but have not traded via the Unum Capital trading desk, why not consider making us your trading services provider? To open a trading account and/or move from your existing service provider, mail  tradingdesk@unum.co.za .  Alternatively, Sign Up Here:  https://tradedesk.co/tenant/Unum/signup Sibanye's +15% Rebound: If You Bought In, Use This Rebound To Take Profits (Short Term Traders) The share traded into the buy range, with a strong rebound! Well done to traders who took the opportunity to trade. If you are a short term trader, use this rally to take some profits. Previous Post (19 March): 💡Actionable Areas: Sibanye Stillwater 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. Lester Davids Senior Investment Analyst: Unum Capital

Research Notes April 2026 > https://www.unum.capital/post/rapril2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes April 2026 > https://www.unum.capital/post/rapril2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Gold Buy Idea Is Higher By 10% (or +$460) vs Our Buy Re-Entry Range. Short Term Traders Consider Taking Profits Previous Post (Sunday 22 March): Gold: Approaching 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

Research Notes April 2026 > https://www.unum.capital/post/rapril2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Tactical Recovery Attempt:   33.3% (38 of 114)  of the universe is now in the 🟢 Buy Breakout  or higher category, a sharp increase from previous sessions. Exhaustion Extremes:  Only 2 shares (OMN, SOL)  remain in the "Triple Overbought" 80+ RSI zone across all timeframes. The 40-RSI Floor:   64% of shares  are now holding above the 40-RSI tactical support on the Daily timeframe, suggesting the "Waterfall" selling has paused. Banking Breadth:   100% of major banks  (ABG, SBK, FSR, NED) have moved from 🟠 Weak  back into 🟢 Strong  or ⚪ Neutral  daily trends. Retail Recovery:   SHP and BOX  are leading necessity retail breadth, maintaining 🟢 Strong  alignments while the broader sector remains fragmented. Gold Sector Synchronization:   ANG, GFI, and HAR  have all synchronized into ⚪ Neutral  Daily status, suggesting a volatility-matching consolidation phase. Tech Divergence:   NPN and PRX  remain the primary breadth anchors, trapped in 🔴 High Bearish  Monthly tiers despite minor daily bounces. Industrial Spine:  Construction and engineering counters ( WBO, RBX ) are exhibiting "Quiet Strength," clustering in the ⚪ Neutral  45-55 RSI zone. Oversold Liquidation:   12 shares  still remain in 🔴 Oversold  Weekly territory, indicating that the structural damage is not yet repaired for the laggards. The Mid-Cap Bid:  Specialized mid-caps like ADH and SDO  are outperforming the Top 40, both holding 🟢 Overbought/High Bullish  Daily momentum. Monthly Resilience:   43% of the universe  maintains a 🟢 Strong  (55+) Monthly structural anchor, providing a secular "buffer" against short-term noise. The High Bearish Cohort:   18 shares  are stuck in the 🔴 High Bearish  (25-35) Daily tier, mostly concentrated in Apparel Retail and Property. Volume Clues:  Most 🟢 Buy Breakout  signals are appearing on declining volume, suggesting this is a "short-squeeze" rally rather than new institutional accumulation. Resource Concentration:  The Top 5 momentum spots are still held by Resources ( OMN, SOL, GLN, TGA, EXX ). Insurance Breadth:   DSY  stands as the only insurer with a 🟢 Strong  Monthly and Daily alignment; peers like SLM and SNT  are lagging in 🟠 Weak  tiers. Small-Cap Vacuum:   BLU and AFH  continue to print single-digit relative strength in certain sub-periods, signaling a total lack of liquidity. Mean Reversion Gap:  The RSI gap between the #1 ranked ( OMN ) and #114 ranked ( FFB ) is 61.5 points, down from 70+, signaling the start of a "convergence" move. Chemical Outperformance:   AFE and OMN  are both holding Weekly RSI levels above 75, detached from the broader Industrial average. Property Stagnation:   NRP and LTE  remain in the "Wait / Range Trade" category with sub-35 Weekly RSI, confirming no rate-cut bid yet. Aggregate Speedometer:  The JSE aggregate has ticked up to 46.8 , moving from Weak  to the bottom edge of Neutral . Lester Davids Senior Investment Analyst: Unum Capital

Research Notes April 2026 > https://www.unum.capital/post/rapril2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za 🏛️ 10-Point Momentum Wrap The Blow-Off Transition:  The vertical ascent in SOL and OMN  has transitioned into a "distribution" phase; price is flat while RSI begins to curl, a classic "Sell on Rally" setup. 🛢️ The Bank "Snap-Back":  A coordinated short-squeeze is underway in ABG and SBK , moving them from 🟠 Weak  to 🟢 Strong  in 48 hours. 🏦 Necessity Retail Floor:   SHP  and BOX  have successfully defended their Monthly structural means, suggesting the "Necessity" bid is the only reliable consumer hedge. 🛍️ The Tech Ceiling:  Every attempt by PRX  to rally is being sold into, as its 🔴 High Bearish  Weekly momentum creates a hard technical ceiling near the 32-RSI mark. 📉 Gold’s "Waiting Game":  The Gold complex is drifting sideways. With Daily RSI at 50 and Monthly at 60+, the "Smart Money" is waiting for a macro catalyst to trigger the next leg. ⛏️ Yield-Sensitive Surrender:  Property ( LTE, FFB ) continues to ignore the rally in banks, proving that yield-proxies are decoupled from the tactical "SA-Inc" bounce. 🏢 Chemical Strength:   AFE  is emerging as a high-conviction momentum play, breaking into 🟢 High Bullish  Weekly momentum independent of the broader index. 🧪 The Laggard Squeeze:  Deeply oversold names like PIK  are seeing 10%+ "dead cat bounces" purely on mathematical mean reversion from single-digit RSI levels. 📏 Institutional Rotation:  Flow data suggests a shift out of "Dollar Hedges" and back into "SA-Inc" cyclicals as the Speedometer moves toward 50. 💱 The Tactical Verdict:  Move from Defensive  to Selective Aggression . Focus on "Buy on Pullback" names that have confirmed a ⚪ Neutral  daily floor. 🛑 Lester Davids Senior Investment Analyst: Unum Capital

Research Notes April 2026 > https://www.unum.capital/post/rapril2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Moving in line with the price action model. Original Note Published Here > https://www.unum.capital/post/har1903 Is likely to find resistance slightly higher at the 21-day EMA. 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

Research Notes April 2026 > https://www.unum.capital/post/rapril2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Trading +8000 vs our buy re-entry range. BEST-PROBABILITY ACTION: Sell on Rally / Relief Bounce Exhaustion Momentum Profile:  The multi-timeframe momentum profile reveals a complex structural battle. On the macro (Monthly) chart, the fast momentum tiers are crashing violently from extreme overbought conditions, signaling a massive, longer-term regime shift. However, on the medium-term (Weekly) chart, the Ultra Short Term and Short Term oscillators plunged to oversold extremes and are now hooking sharply upward. This is currently decoupling from the daily timeframe, where fast momentum has already rocketed straight back into overbought territory. This signature—macro distribution colliding with a violent short-term squeeze—indicates a classic, highly volatile relief rally within a newly damaged macro structure. Structural Analysis & Tactical Bias:  Evaluating the broader macro context across the timeframes, the index previously engineered a massive structural uptrend, peaking near the ~121,000 macro resistance zone. This distribution phase resolved violently to the downside, with a brutal monthly waterfall decline that sliced straight through multiple floors to print a capitulation wick near ~98,000. Isolating the immediate daily price action, the tape has executed a massive V-shaped recovery off that ~98,000 liquidity sweep, surging back to trade currently near ~106,291. Given the macro damage on the monthly chart and the overextended fast momentum on the daily chart, the tactical bias leans toward 🔴 Sell on Rally / Relief Bounce Exhaustion , anticipating that overhead supply will soon cap this vertical bounce. Key Support & Resistance Levels:  Immediate overhead supply and macro resistance are firmly established between ~108,000 and ~110,000. This zone marks the heavy breakdown shelf and consolidation block established before the final flush; it is thick with trapped longs and institutional limit-sell orders. Immediate structural support sits lower at the ~103,000 local pivot. Should this interim floor give way, the major historical demand zone and ultimate structural floor remains the capitulation wick lows at ~98,000 to ~100,000. Next Candle Probability:  The current price action aligns with Scenario 44: 🔴 High-Level Chop / Bounce Exhaustion . The daily structure shows massive upward thrust, but it is now driving directly into a major resistance wall while operating on mathematically stretched daily momentum. The highest probability outcome for the next sequence of daily candles is a loss of upward velocity, the printing of topping tails (upper wicks), and highly erratic bidirectional chop as institutional sellers begin to fade the retail relief rally. Primary View Invalidation:  To invalidate this cautious, exhaustion-focused primary view, buyers must completely ignore the macro gravity and overextended daily oscillators. They would need to orchestrate a massive, high-volume breakout that definitively clears and holds above the ~112,000 upper resistance ceiling. This would trap aggressive short-sellers, confirm the ~98,000 sweep was the ultimate cyclical bottom, and shift the bias back to primary trend continuation. Technical Risks & Opportunities: 3 Technical Risks: Macro Gravity (The Bull Trap):  The monthly momentum is still actively rolling over. If this daily bounce fails at the ~108,000 supply wall, it cements a massive macro lower-high, signaling the start of a protracted, multi-month bear phase. Structural Air Pocket:  Because the daily recovery was nearly vertical, there is very little structural support built directly beneath the current price. A sudden rejection could trigger an "air pocket" drop straight back to ~103,000. Volatility Whip-saw:  The extreme variance between the daily (overbought) and weekly (hooking up from oversold) momentum creates a chaotic tape. Stop-losses on both sides are highly vulnerable to being hunted in wide intraday swings. 3 Technical Opportunities: Higher Low Base Building:  If the tape is rejected at ~108,000 but manages to pull back and consolidate cleanly above ~103,000, it would digest the overbought momentum and form a highly reliable higher-low launchpad for a sustainable recovery. Short-Squeeze Continuation:  Parabolic bounces can remain irrational. If the weekly momentum hook provides enough tailwind, forced short-covering could temporarily blast the tape through 110,000 before gravity sets in, offering aggressive intraday long scalps. Defined Risk Short Setup:  The convergence of extreme daily overbought momentum with a clear structural supply wall at ~108,000 creates a pristine, defined-risk entry for macro short-sellers looking to fade the bounce. The Next 10 Days:  Over the next two trading weeks, the index faces its ultimate stabilization test as it fully engages the ~108,000 to ~110,000 historical supply zone. Given the stretched state of the daily momentum oscillators, market participants should anticipate an end to the easy, vertical gains. We are likely to see intense intraday battles as early bottom-fishers take profits and institutional bears reload their short positioning. If the tape fails to quickly punch through this ceiling, expect a rapid, localized cascade that actively tests the vulnerability of the tape beneath 104,000 to establish a true, durable higher-low. Tactical Risk Assessment: Buying vs. Selling What's the risk of buying now?  The primary risk of initiating a new long position at ~106,291 is that you are buying directly into the late stages of an overextended daily relief rally, mere inches below a massive structural supply wall (~108,000). You risk providing the exact exit liquidity that trapped longs and institutional sellers are waiting for. What Can Change?  If institutional buyers aggressively absorb all overhead supply and force a definitive, high-volume weekly close above the ~110,000 ceiling, it validates the V-shaped recovery and significantly lowers the risk of a secondary breakdown. What's the risk of selling now?  The primary risk of selling (whether taking profits or initiating a speculative short position) is stepping in front of the weekly momentum hook. While the daily chart is stretched, the weekly oscillators have just triggered an aggressive upward reversal from extreme lows. If this weekly tailwind forces a sustained short-squeeze, the tape could violently spike through 110,000, liquidating early bears. What Can Change?  If the daily fast momentum oscillators suddenly plateau, cross bearishly, and the price prints a high-volume rejection candle at ~108,000, it would mechanically confirm exhaustion, validating the short thesis and signaling the relief rally is over. Forecast Projection Breakdown:  With daily momentum dangerously extended into a major breakdown shelf, the forward-looking probability distribution favors sideways exhaustion or a sharp localized pullback to build structure. The Bearish Scenario (45% Probability):  The relief rally hits the ~108,000 wall and dies. Sellers aggressively fade the bounce, forcing a sharp rejection that breaks immediate daily structure and targets a rapid retracement back to the ~103,000 pivot. The Base/Neutral Scenario (35% Probability):  The tape loses its vertical velocity but refuses to crash. The asset enters a highly volatile, choppy distribution phase roughly between ~103,000 and ~108,000 to work off the extreme overbought daily conditions. The Bullish Scenario (20% Probability):  The weekly momentum hook is simply unstoppable. Buyers absorb all overhead supply without needing a pullback, grinding the price relentlessly through the 110,000 ceiling to trap the macro bears. 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

Research Notes April 2026 > https://www.unum.capital/post/rapril2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes April 2026 > https://www.unum.capital/post/rapril2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Analysis of relative setup. Context:  Grinding sideways at the bottom. Upgraded slightly from Oversold to High Bearish in the Long-Term, with the Medium-Term improving to Neutral. Forecast:  Base Building. Long (Buy) R:R:   Poor.  While it is stopping the bleeding, there is no upward momentum to justify a long position yet. It is currently "dead money." Short (Sell) R:R:   Poor.  Downside momentum is drying up as it builds a base, making it a frustrating and low-yield short. Shown Below: Monthly Chart ( Paper & Pulp relative to JSE Top 40 Index ) Lester Davids Senior Investment Analyst: Unum Capital

Research Notes April 2026 > https://www.unum.capital/post/rapril2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Financials (Banks & Insurers) - The change from 31 December 2025 to 31 March 2026 Context:  Both sectors have flat, Neutral longer-term foundations, but their Short-Term momentum is rolling over into Weak territory. Forecast:  Choppy / Mildly Bearish. Long (Buy) R:R:   Poor.  There is no upward momentum to lean on. Short (Sell) R:R:   Moderate.  The Short-Term weakness suggests downside drift, but the Neutral Long-Term support means it could easily just chop sideways and frustrate a short position. The Monthly Chart (Banks Relative To JSE Top 40 Index) is show below. The Monthly Chart (Insurers Relative To JSE Top 40 Index) is show below. 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

Research Notes April 2026 > https://www.unum.capital/post/rapril2026 Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Summary:  Coal Miners, Diversified Miners, and Chemicals are the standout leaders on the board, consistently maintaining intense, bullish momentum across all timeframes and sustaining serious strength built from a solid Long-Term foundation (with Chemicals and Diversified Miners hitting Overbought extremes in the Medium Term). On the turnaround and stabilization front, Hospitals surged from a Weak Long-Term stance to Strong in the Medium Term, while Paper & Pulp and Consumer Staples successfully clawed back from High Bearish and Weak longer-term trends to establish a steady Neutral Short-Term footing. Gold Miners also showed notable resilience, bouncing right back to a Strong Short-Term state after a brief Neutral dip. Conversely, several sectors are visibly losing ground: Telecoms and Platinum Miners are fading from early Long-Term strength down to Weak and Neutral Short-Term states respectively, while Banks and Insurers are sliding from a sleepy Neutral Long-Term regime into Short-Term weakness. Finally, Technology, Consumer Discretionary, and Luxury Goods continue to languish under persistent, multi-horizon weakness, struggling with High Bearish, Oversold, or stubbornly Weak conditions across the board. Lester Davids Senior Investment Analyst: Unum Capital

Thank you for your interest in our research. Year-to-date, we have published over 560 research notes , with the aim of conveying insights that help clients: (1) Manage Risks and (2) Uncover Opportunities. If you've been a consumer of our research but have not traded via the Unum Capital trading desk, why not consider making us your trading services provider? To open a trading account and/or move from your existing service provider, email   tradingdesk@unum.co.za . Alternatively, Sign Up Here:   https://tradedesk.co/tenant/Unum/signup >>> The Oil Spike. 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