RandSwiss
Long

Go long on Sasol

JSE:SOL   SASOL LIMITED
Sasol fell sharply when news surfaced of further overspending at its Lake Charles facility in Louisiana. But, with oil on the rebound, it might be a good time to buy the stock at these new lows.

As you can see from the above chart, there is a big gap between price on 21 May 2019 and 22 May 2019. In technical circles, there is a common saying: The price always fills the gap. This is exactly how we see SOL playing out.

Action: Place a Limit Order to go Long with your Limit Price set to R380.00. Set your Stop Loss to R340.00 and your Take Profits to R420.00 and/or R460.00.
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