Sasol Trading Plan - 19/06/2020
Mild day today for the Sasol share price. As per previous analysis we opened to immediately test R 151 which we are struggling to break through and unfortunately today we are held back again. We had steady drops through out the day and a bit of positive news gave us a little jump towards the end to help us finish at R 142.85 which is 0.5% below opening price.
Plan for tomorrow, if we open at a negative we can expect a rebound at R 132.77 which cemented itself today, if this doesn't hold we still have a very decent support line at R 130 which in the past has held very strong and can be considered a good buy in point. These rebound will then give us the opportunity to retest the R 144 share price.
If we open at a positive we can expect another immediate test of R 151 which is still the last strong hold keeping us away from R 165. Its fair to expect another rebound at the last resistance line.
Careful to note if by chance we open with a gap over R 151, we should expect a drastic rebound at or before R 165 to return and close the gap. But that is still unlikely.
Plan for tomorrow, if we open at a negative we can expect a rebound at R 132.77 which cemented itself today, if this doesn't hold we still have a very decent support line at R 130 which in the past has held very strong and can be considered a good buy in point. These rebound will then give us the opportunity to retest the R 144 share price.
If we open at a positive we can expect another immediate test of R 151 which is still the last strong hold keeping us away from R 165. Its fair to expect another rebound at the last resistance line.
Careful to note if by chance we open with a gap over R 151, we should expect a drastic rebound at or before R 165 to return and close the gap. But that is still unlikely.
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