JSE:SOL is showing signs of a momentum change, and we could be looking at a downward move to the support level around 15500. The stochastic and MACD have both crossed down a couple of days back and we finally have confirmation from the EMA's that the trend may be changing.
My previous chart just need an update.
After the 8 600 entry position I proposed, Sasol is still holding firm as we approach the earnings report. Keep holding it and do not be alarmed if it retraces back to the 18 000 level. It is still above the 50MA, 200MA and the fundamentals are not providing any erratic downward movement (specifically the rights issue). ...
A small inverted head & shoulders pattern has formed on JSE:SOL in the recent past, but it is yet to make any significant upward move because of it. It came up and tested a strong resistance level on the 10th of Nov and then retraced back down. If it comes up again and breaks through that resistance line convincingly, I will consider entering a long position.
Hey everyone...
We end the week with Sasol hitting R72 and R122 in one week and as of writing is at R105, We have seen a jump from R91 to R112 in less than an hour.
What a long a interesting week for the markets and Sasol...
I have just posted a revision of my one chart,
I will explain it through updates during the week. I just wanted to end the week of with as...
will add to this analysis tomorrow, I'm also looking for just some stability but for now here is some of my charts.
What I tried to show with the USOIL and USDZAR is that both of them benefits Sasol the higher they are. However the news of the vaccine shot up oil future and the markets overall. Along with the election and...
we see a support that it failed to break, it bounced on the level which was set on level 2 consolidation. this could be changed if they constantly trade around that zone. Sasol is best left alone for now as it is unclear with its movement.
patterns are said to be the same across all instruments, we are currently seeing a rest before further downside movement.
for sasol to rise we need strong bullish moment as oil is taking a hard hit which also affects sasol.
sasol is currently showing bearish dominance, buying out of greed will only result in major loses. wait for the recovery pattern and invest from there.
As expected, negative outlook on Sasol share price continues as we see Sasol losing 7% today and passing through the R 98 support line and providing an underwhelming rebound just below the support. Its safer to assume the trend will continue although a rebound at this point is possible but not worth the gamble. Im not even considering a partial buy in, considering...
This is my first analysis I published on TradingView.
I have bought Sasol at multiple levels over the last few months. I entered at R60 and bought a bit more to the top and sold out at 155 keeping the houses money invested. As many have seen and spoken about Sasol fell from a peak in covid of R180 and Showed resistance and support at R150 , Lost Support and...
We have seen Sasol break the R 151 mark at the most unlikeliest of times. This was of course when news of the impairment was publicized and a lot of people were expecting a massive drop. The opposite happened of course.
For Monday when results are finally announced of which we all know won’t be positive results, we can expect a massive drop to around R 132. I...
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.
JSE:SOL
Just for interests sake, the pattern which followed the March crash seems to be repeating itself. If it completes, there would be the repeat of the X leg still to come. But would surely need a catalyst, and right now that is not the oil price, maybe that changes next week. Otherwise, the last part pattern, the harmonic could just play out and go down to...
Test of that bottom trendline will be crucial.
Disclaimer: The views provided herein do not constitute financial advice.
Please feel free to comment, critique or add to my view, I welcome feedback, whether it agrees with my views or not.
This idea is based on my strategy, please consider your own before using it in any way. Always use a stop-loss and manage risk.
Interesting trading week Sasol had last week. it finally managed to break the down trend as well as the R 144 resistance and finished comfortably at R 149 approaching the infamous R 151 resistance. For those that have been following my Sasol analysis would know this has always been the struggle point Sasol cant seem to get passed. having been tested countless time...
Sasol breaking previous resistance, monitor for retest and direction.
Disclaimer: The views provided herein do not constitute financial advice.
Please feel free to comment, critique or add to my view, I welcome feedback, whether it agrees with my views or not.
This idea is based on my strategy, please consider your own before using it in any way. Always use a...
![SOL: Sasol limited [ Good investment?]](https://s3.tradingview.com/p/pRLqotn2_mid.png "Sasol limited [ Good investment?]")
