Sasol limited is recovering very well.If you where still looking to buy Sasol share you can do that now or never.
Manage your trades!!!
SSL trade ideas
SOL - BUY/SELL Looking for the price to drop further to R104 level, then we're likely to see another rise given the channel projection. If price does rebound from this level I spot a good BUY opportunity for the month to close around R210 level. If price break the R104 level to the downside we're likely to see a drop as low as R80 with developing news.
SOL Bull Set-setupAn uptrend rise for Sasol, but 17255-1800 is a strong resistance area. If bulls manage to pass through resistance, then the bullish trend might reach up to 24500.
Just, in my opinion.
Cup and Handle coming up!Nothing much to say here.
We just heard the scare from the so-called "second" corona wave, and the count of oil barrels in surplus was the greater trigger for this cup.
Gl & hF
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.
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.
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.
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.
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.
Sasol Share priceMid day on the Sasol share. I’m more skeptical that we will see a major double digit increase today. JSE very slow today. It best I see the share price hovering along the blue line horizontally, at worst we will continue seeing a drop until the next resistance. The blue line resistance has held up well throughout the morning so let’s hope the black can hold us till markets close.
Is a reversal incoming? If yes, then these are my buy zones.Applying the Fibonacci Extension to the current trend and combining it with previous resistance zones I assume will act as support during this next reversal phase, these are my buy in targets for the next 2 weeks :)
A revision with possible very long-term perspective of recoveryIs it perhaps possible that what we are seeing is a very long-term recovery following multiple layers of symmetrical triangles forming from various key previous highs? No predictions this time as I simply want to wait and see what happens with this breakout today. Could we see continuation to about R 200 or will we be immediately rejected back down to around R 110 levels?
New short-term targets for Sasol following previous trend line?Given the recent perfect performance for Sasol, given the news that lock-down regulations have been found unconstitutional, given the strengthening rand and steady oil prices, is this the perfect mix to take Sasol further? Only time will tell :)
