Trade Plan for Sasol - 22/06/2020
We had a very good day on Friday attempting to break R 151 again but once again failing to do so and finishing off the day at R 146.00 which is around 2% up from open.
Today we are hoping for another positive open to test R 151 again and we can honestly expect another rebound, it sort of feels like chasing the end of the rainbow at this point where breaking through R 151 will really be something special.
If we open at a negative, R 135 seems like a decent support we can expect a rebound for a partial buy in. So we are on the fence right now.
I would recommend you also read up on the latest news on Sasol which provides insight as to why we actually had the rally put to around R 172 and fund managers valuing Sasols stock to around R 80. So if we ever happen to see a drop to that share price it would be expected.
Today we are hoping for another positive open to test R 151 again and we can honestly expect another rebound, it sort of feels like chasing the end of the rainbow at this point where breaking through R 151 will really be something special.
If we open at a negative, R 135 seems like a decent support we can expect a rebound for a partial buy in. So we are on the fence right now.
I would recommend you also read up on the latest news on Sasol which provides insight as to why we actually had the rally put to around R 172 and fund managers valuing Sasols stock to around R 80. So if we ever happen to see a drop to that share price it would be expected.
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