Interesting start to the morning. As predicted yesterday, Sasol opened to immediately test the R 120 downtrend support line which I marked as a possible buy in point and provided amazing rebound to help anyone who bought in at this point. This was the same pattern we saw yesterday and for now we can’t expect a test on the down trend resistance. Positively the most we can expect is to close around R 125 - R 130 as we are currently testing major support at R 130. Worst case scenario we will be closing at around 120 - 124. Overall we are still in a down trend and as stated in yesterday analysis, very possible we could reach R 100 a share on Monday.
R100 for Monday seems a bit low? The oil price have increased a little bit. Do you think the share price will drop by Monday?
Bengy_
⋅
@Craig1984, also thought about Oil! But all thanks Afrotez
mdgreener
⋅
Sasol seems to have held quite well today, still think it's going to follow this down trend line come close of the market today?
TyralC
⋅
Thanks AfroTez
Dube66
⋅
The is also the possibility that it might continue sideways considering the double bottom, as much as barrel prices are plummeting, sasol has been working on signing deals with other companies and stimulating production by developing people's ideas which are within there niche
Tiger3GP
⋅
R100 abit low considering today's high R143.99 a think R110 if u lucky depending if barrel price breaks $39
GirlBossAmanda
⋅
Thanks I also went in on 120 Friday morning as I noticed the trend for a few days. Will be interesting to see if it can go down to 100 on Monday and stay on that trend for a few days.
Prue-Lane
⋅
Can I just get a little bit of assistance, I am new to stocks and am with Easyequities. Just to be clear, when it says buy at vs sell at.. The sell and buy is for who? The investor or the company?