AfroTez

Sasol Trade Plan for 11/06/2020

Short
JSE:SOL   SASOL LIMITED
A 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.

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