SOL - Long Idea for JSE:SOL by JonathanOtero7f

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trendanalysis supportandresistance sasol sol long

Been tracking this trade for a while. This is an updated idea, with the trade already triggered last week after a close above R150. Target is R180 with stop loss a close below R150.

Trade closed: stop reached: Trade was triggered on Monday and looked steady until a close below R150 on Friday triggered our stop loss. SOL is due to released earnings tomorrow (Monday)and a potential rights issue could bring the share price down. Risk remains too high to stay in the trade.

Comments

I anticipate Sasol to close around R158.60 today

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JPHEYNS

@JPHEYNS, trading statement out this morning so this could shake things up. HEPS and EPS into a loss after massive impairments.

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JPHEYNS

@JPHEYNS nice prediction, I wonder if we would see 165 before a drop🤔

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JPHEYNS

@Rekash I don't think there will be a massive drop. Market seems satisfied with Sasol, oil looking good, usd zar also in Sasol's favour. i think there will be upside going forward, possibly breaking R180. end of year looking at R214.

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JPHEYNS

@JPHEYNS Didn't see this drop happening today, almost 10%.....

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