AfroTez

Sasol Trade plan for 12/06/2020

Short
JSE:SOL   SASOL LIMITED
Extremely 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.

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