SASOL - Looking very bullish indeed- SASOL is breaking out of a bull flag and looks set to test the down sloping 200 ma
- The IRAN / US events are likely to continue pushing up the price of oil
JSE:SOL
SSL trade ideas
$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).
$JSESOL Bull flag in the making ? Sasol looks like it's building a bull flag. Still early days, but will keep an eye open for a break in coming days.
Add to an old tradeGood place to add to our trade. Remember we have an open trade on SOL since October. We open this on the back of that yellow zone which has been successfully defended since December. So we expect whoever is fighting this battle to take us to our Take Profit at the 35 000 zone. Very good RR as well.
Entry: 30 100
SL: 28 565
TP: 34 900
I cant overemphasise appropriate risk management!
JSE:SOL Sasol Pullback in DowntrendSasol has been week and recently broke out of a long term trading range (TR). However, more recently an accumulation TR has formed that could take us back to test the long term TR. We have backed up (BU) to the accumulation TR and I am now looking for a break higher back to the longer term TR.
$JSESOL Sasol channel break and retest. BullishAfter a recent channel breakout on some positive Lake Charles production numbers the channel support line was successfully retested and held. This is a positive bullish sign. Longer term buy.
Take Profit-FinallyAfter almost 2 months waiting and getting stopped out once and reentering , sasol finally comes around and hits our 1st take profit. Now we wait for the 2nd TP at 35 000.
Long term value unlockSOL seems to have bottomed and continues to consolidate under R300 progressively posting higher lows. Should the Lake Charles project finally become earnings accretive, there seems to be some value to unlock longer term. Such a positive catalyst could see us retest a previously well established support line (Suspect will be strong resistance)
$JSE-SOLJSE:SOL
Breaking sideways consolidation after very strong day yesterday and strong open today.
First target is around 38000 above that gap close.
Ideally one should wait for pullback but not sure if it will happen.
SASOL - Running out of fuel...- Looking to see what price does at R250 level for and entry as i suspected a consildation will develop which can be traded (range)
- Failure to hold that level will open up new downside risk
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:SOL
$JSESOL Sasol Target reachedUpside 29700 target reached. Will keep an eye open for a 29700 breach and how the buyers react.
$JSESOL Sasol. Consolidating within a defined channelSasol currently traded in a defined 255-297 channel. Consolidation usually leads to a move higher or lower. Immediate downtrend seems to have been broken and tested. Buy with a target of 297. Sell with a daily close below 250.
Pairs Idea - Long SOL Short SGLEquities Pair Long SOL / Short SGL | At current levels, the price, as per the ratio chart is finding buying support at the prior swing low seen in August 2016. What is very interesting is the extension (distance) from the 200-day moving average. Using the prior swing support lows as an example we saw the price (prior to the massive bullish reversal) trading at 53% below the 200-day MA. At current levels this number is 58%, which may suggest that the price is overextended to the downside and offer an opportunity to take a position in the pair.
$JSESOL - Another fail.Sasol was forming a bullish rounding pattern. Was looking good. Until it wasn't anymore.
SOl Short Triangle breachSOl Short flat bottom resistance triangle breach
with closure below further downside expected
see weekly long term indicators analises
SOL ShortSOL short continuation long term trend /Cycles
still part of H&S originating in 2008
break of short term support will open up 2008 support
for possible trend change
$JSESOL Sasol From fake moves......comes fast moves. Set-ups like this are usually conducive for position squeeze situations. My money is still on the long side.
