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Sasol

Late Midday analysis Markets opened more positive than I was expecting, shot straight to test 151 resistance. I honestly didn’t think this resistance would hold that strong but it has. Price has stabilized and we looking to close at 150 as the share continues the horizontal pattern. At this point the next partial buy in is at R144 but expecting a minor rebound at 147 as well. If we close at 150, one positive run tomorrow can shoot us past the resistance and we can aim for next resistance at R 151. Summary: Hold and wait. Partial Buy at 144.
JSE:SOLLong
by AfroTez
Sasol Weekly ForcastIts been an interesting week for Sasol, even pushing up to fill the gap , lets quickly check what to expect this coming week. At (1) is where we saw a retracement , which serves as a confirmation of this analysis. Traders can trade the correction for investors its a trap? At (2) is where i expect the push up to end, before we continue downwards again. Should price push above (2)? ===> (3) At (3) , is where i expect the push to end , should it break past (2), looks familiar? double top ? possible... At (4) is where i am eyeing at most...lets quickly break down the area, R82 1st support , R77 2nd support , R84.5 key turning area , R88 1st resistance , R91 2nd resistance. Comment: RSI shows a bearish market , im going short....
JSE:SOLShort
by UnknownUnicorn7709067
9
Sasol Midday analysis - 15/06/2020Sasol this morning opened at a negative trailing to test R 130 but was successfully held back by the minor R 135 support line. This minor support managed to rebound the share price and break the downtrend we've been held to most of last week. We are currently testing the R 144 resistance and have not broken it successfully as yet. Markets still seem Luke warm so we can expect this horizontal trend for the rest of today. As per my previous analysis I will be happy with a close around R 144 - R 150. Seeing the R 100 share price is more and more less likely. Buyers are holding of pretty well. At this point, even reaching R 120 would be a significant buy in position.
JSE:SOL
by AfroTez
5
Sasol Trading Plan - 15/06/2020Interesting close we had on Friday. Sasol again with a horrible open but able to fight back positively. We have broken through the downtrend resistance and this could be a sign of a trend change. If we open to test R 130, it could mean the down trend is possibly continuing and this will be a good buy in position. breaking Through R 130 will give us another buy in position at 120 which has held very strong during the past week and can confidently expect a rebound. If we open at a positive we can expect to hover around R 144, having a very positive market will push us towards the R 152 resistance which i'm quite positive we can break easily and aim for R 165.
JSE:SOL
by AfroTez
4
Sasol Midday analysis 12/06/2020Interesting start to the morning. As predicted yesterday, Sasol opened to immediately test the R 120 downtrend support line which I marked as a possible buy in point and provided amazing rebound to help anyone who bought in at this point. This was the same pattern we saw yesterday and for now we can’t expect a test on the down trend resistance. Positively the most we can expect is to close around R 125 - R 130 as we are currently testing major support at R 130. Worst case scenario we will be closing at around 120 - 124. Overall we are still in a down trend and as stated in yesterday analysis, very possible we could reach R 100 a share on Monday.
JSE:SOLShort
by AfroTez
12
Sasol Trade plan for 12/06/2020Extremely horrible way to start the day today but glad Sasol regained momentum. Better day on the JSE as compared to yesterday so perhaps we can expect better market sentiment tomorrow. Good day or not it is safe to expect another massive dip at market open and possibly test the supporting down trend line at R 120. This again may be a good partial buy in if anticipating a rebound as we saw today. If markets open positive, we can expect a rebound at the resisting trend line. Breaking through the resistance trend line could be a good signal to partial buy in, marking a change in trend and hopefully Sasol pushing to test R 165 as a modest target. Overall though I am leaning towards the down trend continuing till the R 100 mark on either Monday or Tuesday.
JSE:SOLShort
by AfroTez
11
Sasol Trade Plan for 11/06/2020A bloodbath for Sasol today. Share prices saw a sharper drop than anticipated. We have seen a pattern of sharp opening and we can expect the same at market open. I’m anticipating we will see an immediate test of the R 130 support line, this could be an opportunity to particularly buy again if you are optimistic the share price will rise. This is the last major resistance keeping us Away from R 100 share price resistance where we can expect an influx of buyers that will hopefully drive the price back up. At this point I have exited majority holdings and slowly buying back in at each support line reached. Very good possibility we could hit R 100 per share on Friday if market sentiment stays the same.
JSE:SOLShort
by AfroTez
11
Sasol Midday Analysis 10/06/2020Sasol saw a major drop in share price early in the morning and seems to have stabilized at around R 144,53 after closing the gap on the left. This may be a good opportunity to buy back in partially and observe movements for the rest of the afternoon. Enough buyers seeing this as an opportunity can possibly drive the share up to at least R 158 by days end. If price continues to drop, another possible opportunity to buy in would be around R 135,23 and then R 130 after that although if it reaches 130, it may be a sign the share will continue to drop. Best case scenario from my view for today is we will close around R 147 to R 150. If we break through the R 144 support line, we are likely to finish around R 135 to R 140.
JSE:SOL
by AfroTez
11
Sasol Trade Plan for 10/06/2020Rough day on the JSE today and hoping to have more optimistic market on Wednesday. If the market opens on a positive we can expect it to hit the R 178,23 resistance line. I’m optimistic if it swings this way it will easily break through and retest the R184,07 resistance line. If the market is still nervous we can expect a rebound at the very first resistance. If the market opens on a downtrend, I doubt the R 169,30 support will play any roll and the share price will immediately test R 165,05 support line which held well on today’s trade. We then expect a rebound and recover until midday when we can re-analyze.
JSE:SOL
by AfroTez
12
SASOL Ltd is not looking good for now. I don't trade stocks but friend of mine asked me what is my input for this stock. Clearly to me this is going down to S2 zone and then potentially to S3 i.e. ZAR8000. Not sure about fundamentals of this company or the rest of the financial analysis, and I am not planing to short it. But if consolidates around ZAR8000 this could be good entry point for long term position as he was willing to do it. Please do your analysis before taking financial decision and use SL or Hedging.
JSE:SOL
by Marto_Jekko
1
$JSESOL Sasol time to buy again?Sasol has come under sustained pressure over the last three days, after news broke out that they experienced an explosion at their LCCP facilities. The market is concerned surrounding the potential for further delays to this project as a result of the damages caused. From a technical point of view, the counter is now retesting the breakout of the triangular bottom reversal pattern, and should we see Sasol manage to hold and reverse off current levels of approximately R282, i believe we could have the potential for a good risk-reward trade here to buy the stock. What gives me confidence in the triangle bottom pattern is the fact that the break-out on the 17th December to the upside occurred on significantly increased volume. The current level we are trading at the time of writing this, is not only a retest of the triangular pattern, but it is also where we find both the 89/100 day moving averages as well as the 61.8% fib retracement of the most recent swing highs and lows. Keep an eye on action around current levels, as any sign of a reversal could well be an opportunity to buy the stock with a tight stop and a potential for the counter to push back to recent highs of R330. (The triangle bottom pattern still has a much higher target in place of R370 should this play out in a textbook fashion).
JSE:SOLLong
by MarcoOlevano
$SOL we are approaching a possible reversal area.Watch the area between R290 - R295 which has a high probability of becoming another area of resistance for Sasol. Ever since the update came out in May regarding the LCCP project and further budget overruns, the stock has battled to trade above the 20 day moving average. There is a good chance that the 20 day moving average could once again provide resistance and halt any further advances for the stock (also take note of the 40 RSI level which has been resistance on the daily chart). Should we trade above the high point of last week (R295) as well as start to see two consecutive daily closes above the 20 day moving average, then only would i start to believe that we have seen a change of trend. Until then, as they say, the trend is your friend!
JSE:SOLShort
by MarcoOlevano
SASOL (SOL) 1-HOUR TIMEFRAME SHORTThis stock is moving in a downtrend, and the weekly timeframe shows a possible right shoulder forming. A break of the neckline on this weekly timeframe will signal further bearish momentum. On the 1-hour timeframe, price are trickling down as the momentary uptrend has finished and prices are below that ascending trendline, forming a series of lower highs and lower lows and also forming a series of bear flag patterns. My figures are as follows: Entry: Now Stop Loss:44 000 Target Take Profit: 40 000 Is it just a coincidence that the crude oil prices are also falling? We will never know.
JSE:SOLShort
by munyaelliott