Search this site

Research: Premium Capabilities. Click Here To View > https://www.unum.capital/post/premiumcapa NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Price Action Model as of: Monday 07 September at 15H02. Please Note: The analyst's price action model now form part of our PREMIUM content. In June we highlighted a buy. It now trades +32% higher and is flashing a sell/reduce into strength. STRUCTURAL RATING: ⭐⭐☆☆☆ The reward-to-risk profile is heavily compromised for new long entries due to extreme near-term vertical extension. For a Buy/Long position, the reward-to-risk is Poor 🟥 because while there is "Aggressive Buying" and the asset is "Attempting To Advance Whilst In A Bullish Regime," it is officially "Approaching Overbought". The model explicitly dictates "Do Not Chase" across the medium-term horizon and mandates waiting for a pullback to enter. Conversely, for a Short/Sell position, the reward-to-risk is Moderate 🟨; a verified overshoot or failure to hold prior session range highs unlocks a highly specific, tactical counter-trend short setup, utilizing the 8-EMA or 21-EMA as a direct downside profit target. TACTICAL ACTION SCALE 🟥 At/approaching sell/reduce — Immediate/Urgent: Price has hit resistance or reached extreme overbought levels. ⬅️ 🔒 IS POSITIONED HERE 🟧 Sell (continuation) 🟨 Sell on rally 🟠 Sell on sharp rally ⬜ Neutral 🔵 Buy on deeper pullback 🟢 Buy on pullback 🟦 Buy (continuation) 🟩 At/approaching buy/add RATIONALE: Despite the 14-day trend exhibiting "Very Bullish" momentum and the long-term structure actively executing an attempt to advance, the 7-day trend is characterized by "High Bullish Momentum / Approaching Overbought". Because price action is severely extended near-term, chasing new longs is strictly prohibited. The immediate tactical urgency falls to At/approaching sell/reduce, as market participants must actively monitor for a failure to hold prior session range highs. If this apex fails, it triggers a mean-reversion short, allowing the asset to safely pull back to the 8 or 21-EMA to digest the aggressive buying before utilizing those levels as a primary "Accumulation Zone". SCENARIO MATRIX (BASE, BEAR & BULL CASE) Base Case (60% Probability): Overbought Digestion & EMA Accumulation Test: The near-term vertical ascent exhausts as aggressive buying volume dries up at the highs. The asset fails to hold these elevated levels, triggering the anticipated tactical short-sell setup back to the 8-EMA. Price pulls back systematically to test the prior session close, 8-EMA, or 21-EMA, where long-term structural buyers step in, successfully utilizing the dip as an "Accumulation Zone" to resume the broader bullish advance. Bear Case (25% Probability): Aggressive Tactical Rejection & Deep Drawdown: The failure at the highs attracts outsized, heavy institutional distribution rather than standard profit-taking. Selling pressure violently forces the share price through the 8-EMA and 21-EMA downside targets, threatening to completely unravel the "Very Bullish" 14-day structure and leaving early dip-buyers trapped in a much deeper structural correction. Bull Case (15% Probability): Runaway Momentum Expansion: Buyers effortlessly absorb all overhead supply, completely defying the "Approaching Overbought" warning and the "Do Not Chase" mandate. The asset accelerates into an unyielding runaway momentum squeeze, blowing past prior session range highs without triggering the short-sell setup. This forces counter-trend short sellers into immediate stop-loss execution and leaves sidelined capital chasing an unchecked vertical advance. What Can Go Right From Current Levels (Risk For Short Sellers) For Existing Sell/Short Positions: Relentless Bullish Velocity: Existing shorts are fighting a tape defined by "Aggressive Buying" and a "Very Bullish" 14-day trend. If the asset successfully holds its highs and refuses to execute the anticipated pullback to the 8-EMA, short positions will face an unchecked, high-momentum squeeze against dominant upward velocity. For Potential (New) Sell/Short Positions: Front-Running the Apex: Initiating fresh short exposure before an explicit failure to hold prior session range highs is confirmed represents incredibly dangerous execution. Stepping in front of a "High Bullish Momentum" tape without waiting for verified exhaustion exposes new capital to immense upside variance. What Can Go Wrong From Current Levels (Risk For Buys/Longs) For Existing Buy/Long Positions: Immediate Tactical Peak Retracement: Investors attempting to hold through this extended move face immediate asymmetric downside risk. The model explicitly flags that the asset is "Approaching Overbought" and warns to look for a failure to hold prior session range highs. Existing longs are highly susceptible to an uncomfortable technical drawdown as price naturally rotates back to the 8-EMA or 21-EMA. For Potential (New) Buy/Long Positions: Buying the Ultimate Tactical Apex: Entering fresh long allocations at current levels guarantees highly compromised entry pricing and directly violates the "Do Not Chase" mandate across the medium-term frame. Capital deployed here is forced to absorb the full brunt of the expected failure at the highs, degrading portfolio efficiency and triggering unnecessary stop-loss exposure as the asset retraces to its true accumulation zone. *Ratings and Key Levels Are Subject To Change Based On Subsequent News Flow and Price Action. Lester Davids Senior Investment Analyst: Unum Capital Execute Your Trades Via The Unum Capital Trading Desk: Our research is often consumed by traders that execute our ideas via the trading desk of a competing service provider. This means that our screen time and research efforts ultimately benefits our our competitors, who capture the associated brokerage fees. For this reason, some of our discretionary research insights are regarded as premium and available only to active trading clients. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? To get started contact the Unum Capital Trading Desk via e-mail at tradingdesk@unum.co.za .

Research: Premium Capabilities. Click Here To View > https://www.unum.capital/post/premiumcapa NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Impala Platinum (IMP): +11.8% Rebound vs Buy Re-Entry ... traded just about at the top of the re-entry range (19931c) so not a huge dip before rebounding. This is an example of buying on a pullback/retracement. Previous Post (12 August): Impala Platinum: Actionable Areas For Short Term Traders 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: Premium Capabilities. Click Here To View > https://www.unum.capital/post/premiumcapa NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Chart/Published at 11h22, Monday 07 September. The share is acting well vs our buy re-entry range. *Ratings and Key Levels Are Subject To Change Based On Subsequent News Flow and Price Action. Lester Davids Senior Investment Analyst: Unum Capital Execute Your Trades Via The Unum Capital Trading Desk: Our research is often consumed by traders that execute our ideas via the trading desk of a competing service provider. This means that our screen time and research efforts ultimately benefits our our competitors, who capture the associated brokerage fees. For this reason, some of our discretionary research insights are regarded as premium and available only to active trading clients. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? To get started contact the Unum Capital Trading Desk via e-mail at tradingdesk@unum.co.za . Please Note: The analyst's price action model now form part of our PREMIUM content.

Research: Premium Capabilities. Click Here To View > https://www.unum.capital/post/premiumcapa NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Analysis as of: End of Day, Friday 04 September. Published on: Sunday 06 September. Analyst Disclosure: This report was written using an artificial intelligence tool, based on my own inputs and data. 10-Point Structural Momentum Report 1. Parabolic Exhaustion at the Peak (OUT, KAP, ADH) Counters are stretched into multi-timeframe Overbought extremes, where upside velocity is burning out directly against macro technical ceilings. Long/Buy Risks: Asymmetric downside exposure to violent mean-reversion flushes into liquidity vacuums; buying at the structural apex leaves zero margin of safety if institutional bids evaporate. Short/Sell Risks: Short-squeeze risk where persistent retail momentum or forced short covering keeps price pinned against the upper envelope longer than momentum models predict. 2. PGM & Resource Trend Ignition (NPH, SSW, TGA, GLN) Resources are anchoring positive market momentum, flashing synchronized High Bullish to Strong Accumulating signals across Daily, Weekly, and Monthly engines. Long/Buy Risks: Vulnerability to sudden global macroeconomic risk-off events or commodity price reversals that abruptly halt high-beta upward momentum. Short/Sell Risks: Stepping in front of high-volume institutional accumulation; attempting to fade established trend channels risks getting run over by heavy buy-side order flow. 3. Retail & Consumer Capitulation (TRU, TFG, WHL, MRP, PIK) Momentum across domestic apparel and general retail is pinned in severe High Bearish and Oversold territory across multiple horizons. Long/Buy Risks: Catching falling knives in multi-month markdowns where daily stabilization attempts fail and lower volume floors give way. Short/Sell Risks: Severe vulnerability to violent, asymmetric short-squeeze rallies triggered by minor positive macro news or technical mean-reversion bounces off multi-year floors. 4. The Food Producer Divergence (RBO vs. ARL, SPP) Momentum has fractured across staples: select names display High Bullish breakouts while peers languish in multi-timeframe distribution. Long/Buy Risks: Chasing extended breakouts in leaders (e.g., RBO) near terminal resistance, or buying laggards (e.g., SPP, ARL) before weekly momentum confirms seller exhaustion. Short/Sell Risks: Shorting beaten-down laggards at historically compressed support levels, or fading high-conviction leaders during unexhausted momentum expansion. 5. Banking Sector Stability (INL, INP, NED, SBK) Domestic banks are acting as structural shock absorbers, holding constructive Strong Accumulating baselines while avoiding wider domestic consumer breakdowns. Long/Buy Risks: Performance drag if banking momentum stalls out into prolonged neutral consolidation due to broader economic headwinds. Short/Sell Risks: Resilient balance sheets and dividend support create strong structural demand shelves, making short positions susceptible to consistent institutional dip-buying. 6. Naspers/Prosus Drift (NPN, PRX) Heavyweight tech proxies are exhibiting momentum decay, drifting into High Bearish territory on both Daily and Weekly horizons. Long/Buy Risks: Prematurely accumulating shares during an active weekly distribution cycle that continues to compress net asset values. Short/Sell Risks: Sharp, headline-driven gap-ups triggered by sudden policy shifts, international tech rallies, or underlying portfolio buyback announcements. 7. Property Sector Bifurcation (NRP, LTE vs. GRT, RDF) Offshore-exposed and logistics REITs hold Bullish momentum while domestic retail and commercial counters remain locked in Weak/Distributing cycles. Long/Buy Risks: Deploying long capital into domestic laggards that remain trapped beneath descending moving averages with high tenant vacancy drag. Short/Sell Risks: High distribution yields create a sticky pricing floor, exposing short positions to carry costs and sudden yield-seeking squeeze bounces. 8. Mid-Cap Liquidation Traps (ISO, WBC, RLO) Mid-cap industrial and growth counters are suffering severe liquidity vacuums, plunging into deep Oversold macro states. Long/Buy Risks: Complete lack of secondary market liquidity can trap long capital during extended price discoveries into new all-time lows. Short/Sell Risks: Thin order books mean minor institutional buy orders can trigger parabolic percentage spikes against short positions in illiquid tape. 9. Defensive Stagnation (BTI, ANH) Traditional consumer defensive heavyweights are failing to attract safe-haven capital, remaining trapped in neutral to distributing sideways channels. Long/Buy Risks: Capital stagnation and opportunity cost as funds remain locked in zero-velocity ranges while active market sectors trend. Short/Sell Risks: Defensive cash generation and sustained share buybacks provide a resilient downside cushion that limits short-side follow-through. 10. The Volatility Coils (ATT, JSE, BTN) Indicators have flatlined into tight neutral clusters across Daily, Weekly, and Monthly timeframes, indicating imminent directional range expansion. Long/Buy Risks: False upside breakout whipsaws that immediately fail and roll over into structural downside breaks. Short/Sell Risks: Violent upside explosive expansion if the multi-month coil resolves with an influx of institutional volume. *Views Are Subject To Change Based On Subsequent News Flow and Price Action. Lester Davids Senior Investment Analyst: Unum Capital Execute Your Trades Via The Unum Capital Trading Desk: Our research is often consumed by traders that execute our ideas via the trading desk of a competing service provider. This means that our screen time and research efforts ultimately benefits our our competitors, who capture the associated brokerage fees. For this reason, some of our discretionary research insights are regarded as premium and available only to active trading clients. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? To get started contact the Unum Capital Trading Desk via e-mail at tradingdesk@unum.co.za . Please Note: The analyst's price action model now forms part of our PREMIUM content.

Research: Premium Capabilities. Click Here To View > https://www.unum.capital/post/premiumcapa NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Analysis as of: End of Day, Friday 04 September. Published on: Sunday 06 September. Analyst Disclosure: This report was written using an artificial intelligence tool, based on my own inputs and data. 10-Point Market Breadth Report 1. The "Hollow Middle" Syndrome (Widespread Neutral Status) Over a third of the 137-share universe resides in the neutral holding pattern, reflecting a widespread withdrawal of directional institutional conviction. Long/Buy Risks: Pervasive sideways chop results in false breakout trades, whipsaws, and extended capital lockup without directional follow-through. Short/Sell Risks: Lack of systemic selling velocity causes breakdown attempts to stall out at range support shelves, frustrating directional short plays. 2. Swollen Capitulation Bucket (~30% in Deep Value / Oversold) Nearly a third of the monitored universe sits in deep multi-timeframe markdown conditions, showing systemic damage across domestic counters. Long/Buy Risks: Value traps where oversold indicators remain oversold for weeks as liquidation cascades overwhelm technical support. Short/Sell Risks: Negative momentum is mathematically stretched; initiate short positions here and you are selling directly into terminal exhaustion before mean-reversion snap-backs. 3. Narrow Leadership Squeeze (<15% in Buy Continuation) Index-level stability is being propped up by a narrow cohort of resources and isolated industrial leaders. Long/Buy Risks: Crowded long positioning in the few functioning market leaders leaves them vulnerable to sharp air-pocket unwinds if market leadership rotates. Short/Sell Risks: Liquidity continues to concentrate strictly in these names, making trend-following breakouts difficult to fade successfully. 4. Sector Rotational Breakdown (Capital Exiting to Cash) Capital is exiting damaged sectors rather than rotating into value, leaving defensive and beaten-down sectors starved of institutional bids. Long/Buy Risks: Anticipating rotation into lagging sectors leaves longs stranded without the necessary liquidity inflow to spark a recovery. Short/Sell Risks: Broad systemic risk is high, but if capital re-enters the market simultaneously, it can trigger widespread multi-sector short squeezes. 5. Timeframe Divergence (Daily Bounces vs. Macro Downward Anchors) Short-term daily relief bounces are frequently disconnected from, and capped by, dominant weekly and monthly downtrend lines. Long/Buy Risks: Buying daily momentum rallies that run directly into overhead structural supply, trapping buyers at lower-high swing points. Short/Sell Risks: Shorting daily oversold bounces too early, exposing positions to sharp, short-term counter-trend momentum bursts. 6. The Disappearance of the "Pullback" Trade (Scarce Clean Dips) Orderly pullbacks to rising moving averages are rare across the universe, showing a market characterized by binary extremes. Long/Buy Risks: Forcing long entries on unstable retracements that quickly morph into full structural breakdowns rather than shallow dip opportunities. Short/Sell Risks: Assuming every retracement will fail can cause traders to short into the few authentic, high-probability primary trend continuations. 7. Mid-Tier Abandonment (Liquidity Concentrated in Top 40) Institutional market makers have largely pulled bids outside the Top 40, leaving mid- and small-cap counters wide open to slippage. Long/Buy Risks: Wide bid-ask spreads and liquidity vacuums make exiting losing long positions costly without heavily moving the tape. Short/Sell Risks: Borrow availability is constrained and borrow fees are high; covering short positions during low-float spikes can cause outsized slippage. 8. Commodity Breadth Shield (Miners Masking Domestic Weakness) Strong resource breadth is artificially supporting headline indices, masking recessionary technical trends across general commerce. Long/Buy Risks: Relying on headline index stability to justify buying broad domestic shares that do not share resource tailwinds. Short/Sell Risks: Index hedges via Top 40 short positions can fail if resource heavyweights rally hard enough to offset domestic sector declines. 9. Yield-Seeker Retreat (Income Plays Stalling) Breadth across traditional income assets, REITs, and high-dividend financials is drifting, showing an absence of steady yield-focused accumulation. Long/Buy Risks: High historical dividend yields fail to offset capital erosion as prices drift lower along descending moving averages. Short/Sell Risks: Dividend payment dates and coupon distributions impose carrying costs on short sellers, eroding net trade profitability. 10. Asymmetric Risk Environment (Terminal Downside Skew) Breadth indicators are approaching terminal exhaustion, indicating the market is running low on marginal sellers across the median JSE share. Long/Buy Risks: Patience risk; building long exposure before the technical turn requires enduring further drawdown volatility while the bottom forms. Short/Sell Risks: Maximally unfavorable risk-reward; shorting into generational oversold territory leaves traders exposed to explosive, sharp relief rallies. *Views Are Subject To Change Based On Subsequent News Flow and Price Action. Lester Davids Senior Investment Analyst: Unum Capital Execute Your Trades Via The Unum Capital Trading Desk: Our research is often consumed by traders that execute our ideas via the trading desk of a competing service provider. This means that our screen time and research efforts ultimately benefits our our competitors, who capture the associated brokerage fees. For this reason, some of our discretionary research insights are regarded as premium and available only to active trading clients. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? To get started contact the Unum Capital Trading Desk via e-mail at tradingdesk@unum.co.za . Please Note: The analyst's price action model now forms part of our PREMIUM content.

Research: Premium Capabilities. Click Here To View > https://www.unum.capital/post/premiumcapa NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Model Reading as of: End of Day, Friday 04 September. Published on: Sunday 06 September. Please Note: The analyst's price action model now forms part of our PREMIUM content. *Ratings and Key Levels Are Subject To Change Based On Subsequent News Flow and Price Action. Lester Davids Senior Investment Analyst: Unum Capital "If I want to know the best probability course of action from current levels, I take a reading from the price action model. For years, the price action model has been the tool that has helped me identify opportunities, thereby leading to better outcomes for clients" - Lester Davids The price action model is a proprietary non-A.I., excel-based tool developed by the analyst, based on his understanding on price action, momentum and structure. Here Are 5 Real-Time Ideas Which Helped Clients Manage Risk and Uncover Opportunities. Idea Number #1: Valterra Platinum > https://www.unum.capital/post/val1208 Idea Number #2: Harmony Gold > https://www.unum.capital/post/har1108 Idea Number #3: Thungela Resources > https://www.unum.capital/post/tga0804 Idea Number #4: Sasol > https://www.unum.capital/post/solrebo Idea Number #5: Nedbank > https://www.unum.capital/post/ned0603 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. Execute Your Trades Via The Unum Capital Trading Desk: Our research is often consumed by traders that execute our ideas via the trading desk of a competing service provider. This means that our screen time and research efforts ultimately benefits our our competitors, who capture the associated brokerage fees. For this reason, some of our discretionary research insights are regarded as premium and available only to active trading clients. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? To get started contact the Unum Capital Trading Desk via e-mail at tradingdesk@unum.co.za.

Research: Premium Capabilities. Click Here To View > https://www.unum.capital/post/premiumcapa NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Published for the week commencing Monday, 07 September. JSE Top 40 Index (J200) | The index remains within a consolidation phase within a short term bull sequence. Pullbacks toward the 50-week EMA is likely to be accumulation zones (103k-106k) while sharp accelerations to 113k-116k is likely to be distribution zones (this represents the prior swing highs and overshoot thereof). *Ratings and Key Levels Are Subject To Change Based On Subsequent News Flow and Price Action. Lester Davids Senior Investment Analyst: Unum Capital Execute Your Trades Via The Unum Capital Trading Desk: Our research is often consumed by traders that execute our ideas via the trading desk of a competing service provider. This means that our screen time and research efforts ultimately benefits our our competitors, who capture the associated brokerage fees. For this reason, some of our discretionary research insights are regarded as premium and available only to active trading clients. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? To get started contact the Unum Capital Trading Desk via e-mail at tradingdesk@unum.co.za . Please Note: The price charts, as well as the analyst's price action model now form part of our PREMIUM content.

Research: Premium Capabilities. Click Here To View > https://www.unum.capital/post/premiumcapa NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Analysis as of: End of Day, Friday 04 September. Published on: Sunday 06 September. Nedbank Group traded up to ~R308 from our double bottom trigger at ~R262. The share gapped higher while traders has the opportunity to buy at R264 to R265. The upside target was reached however, the share advanced well beyond the exit level. For now, share continues to act well with the potential to trade into the previous swing highs - a range at which traders can consider a sell/short, should the overbought or excessive conditions be present at the time. Bottom Line: get ready to sell excessive/overbought conditions. *Ratings and Key Levels Are Subject To Change Based On Subsequent News Flow and Price Action. Lester Davids Senior Investment Analyst: Unum Capital Execute Your Trades Via The Unum Capital Trading Desk: Our research is often consumed by traders that execute our ideas via the trading desk of a competing service provider. This means that our screen time and research efforts ultimately benefits our our competitors, who capture the associated brokerage fees. For this reason, some of our discretionary research insights are regarded as premium and available only to active trading clients. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? To get started contact the Unum Capital Trading Desk via e-mail at tradingdesk@unum.co.za . Please Note: The price charts, as well as the analyst's price action model now form part of our PREMIUM content.

Research: Premium Capabilities. Click Here To View > https://www.unum.capital/post/premiumcapa NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Analysis as of: End of Day, Friday 04 September. Published on: Sunday 06 September. AngloGold Ashanti Plc is lower by ~10% from our sell re-entry range. The confluence of the 200-day SMA, 75-day EMA and the 21-week EMA offers a provisional buy re-entry range. *Ratings and Key Levels Are Subject To Change Based On Subsequent News Flow and Price Action. Lester Davids Senior Investment Analyst: Unum Capital Execute Your Trades Via The Unum Capital Trading Desk: Our research is often consumed by traders that execute our ideas via the trading desk of a competing service provider. This means that our screen time and research efforts ultimately benefits our our competitors, who capture the associated brokerage fees. For this reason, some of our discretionary research insights are regarded as premium and available only to active trading clients. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? To get started contact the Unum Capital Trading Desk via e-mail at tradingdesk@unum.co.za . Please Note: The analyst's price action model now form part of our PREMIUM content.

Research: Premium Capabilities. Click Here To View > https://www.unum.capital/post/premiumcapa NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Analysis as of: End of Day, Friday 04 September. Published on: Sunday 06 September. Most recently, the share was higher by 33% vs our buy idea, which was triggered by the price action model (see original post further below). The next next best provisional actionable areas / buy & sell re-entry ranges shown on the chart. Previous Post (10 June): 🟩 Early Buy Reading: Lower Levels Expected Before Tactical Rebound: Valterra Platinum (VAL) 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: Premium Capabilities. Click Here To View > https://www.unum.capital/post/premiumcapa NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Analysis as of: End of Day, Friday 04 September. Published on: Sunday 06 September. Our previous BUY call on Northam Platinum saw the share trade slightly below the buy re-entry range before staging a 32% rally. *Ratings and Key Levels Are Subject To Change Based On Subsequent News Flow and Price Action. Lester Davids Senior Investment Analyst: Unum Capital Execute Your Trades Via The Unum Capital Trading Desk: Our research is often consumed by traders that execute our ideas via the trading desk of a competing service provider. This means that our screen time and research efforts ultimately benefits our our competitors, who capture the associated brokerage fees. For this reason, some of our discretionary research insights are regarded as premium and available only to active trading clients. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? To get started contact the Unum Capital Trading Desk via e-mail at tradingdesk@unum.co.za . Please Note: The analyst's price action model now forms part of our PREMIUM content.

Research: Premium Capabilities. Click Here To View > https://www.unum.capital/post/premiumcapa NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes Published for the week commencing Monday, 07 September Oversold via Weekly Chart GFI SSW RBO *Ratings Are Subject To Change Based On Subsequent News Flow and Price Action. Execute Your Trades Via The Unum Capital Trading Desk: Our research is often consumed by traders that execute our ideas via the trading desk of a competing service provider. This means that our screen time and research efforts ultimately benefits our our competitors, who capture the associated brokerage fees. For this reason, some of our discretionary research insights are regarded as premium and available only to active trading clients. If you have been reading our research but use another trading services provider/broker to execute the trades, why not consider moving you trading account to Unum Capital thereby routing the trades through our desk? Please Note: The analyst's price action model now forms part of our PREMIUM content. Lester Davids Senior Investment Analyst: Unum Capital