SchalkLouw

Sasol – Running out of Fuel

JSE:SOL   SASOL LIMITED
In one fail swoop, Sasol not only dropping 13% in one day, but also broke a very strong support line at R383.50. Main reason was the Lake Charles Project not only seriously going over budget, but also starting to look like the Never-Ending Story. Debt levels are becoming a serious concern and although the lowish PE multiple, the outlook still doesn’t look good.

$JSESOL now extremely oversold according to its 14-day RSI and also serious price underperformance relative to the FTSE/JSE All Share. Any person brave enough (not one of them) to go long in Sasol for a possible recovery, should watch that R357 support level . This will surely be my stop-loss if I were long.
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