Sasol ended the week (15 May 2020) on a positive note completing wave 4 of Elliot wave. It also ended above the 10 and 20 EMA. Taking the upwards trajectory of oil into account, the next week could be the start of the final upward wave (5). If it breaks up, target price to complete wave 5 is +/-11600.
My trading idea should not be construed as financial advise.
My trading idea should not be construed as financial advise.
Trade closed: target reached:
Sasol completed the 5th wave in an untidy but spectacular fashion. I closed my position today. Will keep an eye on this one but uncertainty about the possible rights issue makes further play risky in my view.
