Its been an interesting week for Sasol, even pushing up to fill the gap , lets quickly check what to expect this coming week. At (1) is where we saw a retracement , which serves as a confirmation of this analysis. Traders can trade the correction for investors its a trap? At (2) is where i expect the push up to end, before we continue downwards again. Should...
We had a very Luke warm day today. JSE traders are still nervous. We were not able to close above 144 but we were close enough. Share price has confirmed we are now out the downtrend and looking more neutral. R 120 is a strong buy point and if we reach R 130 this will be a good partial buy in point. I’m still not that convinced about R 135, but this can also be...
Sasol this morning opened at a negative trailing to test R 130 but was successfully held back by the minor R 135 support line. This minor support managed to rebound the share price and break the downtrend we've been held to most of last week. We are currently testing the R 144 resistance and have not broken it successfully as yet. Markets still seem Luke warm so...
Interesting close we had on Friday. Sasol again with a horrible open but able to fight back positively. We have broken through the downtrend resistance and this could be a sign of a trend change. If we open to test R 130, it could mean the down trend is possibly continuing and this will be a good buy in position. breaking Through R 130 will give us another buy in...
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...
Extremely horrible way to start the day today but glad Sasol regained momentum. Better day on the JSE as compared to yesterday so perhaps we can expect better market sentiment tomorrow. Good day or not it is safe to expect another massive dip at market open and possibly test the supporting down trend line at R 120. This again may be a good partial buy in if...
A bloodbath for Sasol today. Share prices saw a sharper drop than anticipated. We have seen a pattern of sharp opening and we can expect the same at market open. I’m anticipating we will see an immediate test of the R 130 support line, this could be an opportunity to particularly buy again if you are optimistic the share price will rise. This is the last major...
Sasol saw a major drop in share price early in the morning and seems to have stabilized at around R 144,53 after closing the gap on the left. This may be a good opportunity to buy back in partially and observe movements for the rest of the afternoon. Enough buyers seeing this as an opportunity can possibly drive the share up to at least R 158 by days end. If price...
Rough day on the JSE today and hoping to have more optimistic market on Wednesday. If the market opens on a positive we can expect it to hit the R 178,23 resistance line. I’m optimistic if it swings this way it will easily break through and retest the R184,07 resistance line. If the market is still nervous we can expect a rebound at the very first resistance. If...
Mid day on the Sasol share. I’m more skeptical that we will see a major double digit increase today. JSE very slow today. It best I see the share price hovering along the blue line horizontally, at worst we will continue seeing a drop until the next resistance. The blue line resistance has held up well throughout the morning so let’s hope the black can hold us...
The patterns were so clear, anyway, it’s seriously oversold, and 10 000 pips oversold under Fibonacci; one double bottom and some reassurance from Sasol and we’re balling upwards! Good luck and follow me for more
I don't trade stocks but friend of mine asked me what is my input for this stock. Clearly to me this is going down to S2 zone and then potentially to S3 i.e. ZAR8000. Not sure about fundamentals of this company or the rest of the financial analysis, and I am not planing to short it. But if consolidates around ZAR8000 this could be good entry point for long term...
Sasol has come under sustained pressure over the last three days, after news broke out that they experienced an explosion at their LCCP facilities. The market is concerned surrounding the potential for further delays to this project as a result of the damages caused. From a technical point of view, the counter is now retesting the breakout of the triangular...
- Looking to see what price does at R250 level for and entry as i suspected a consildation will develop which can be traded (range) - Failure to hold that level will open up new downside risk - MANAGE YOUR RISK - Disclaimer: All ideas are my opinion and should not be taken as financial advice. JSE:SOL
Watch the area between R290 - R295 which has a high probability of becoming another area of resistance for Sasol. Ever since the update came out in May regarding the LCCP project and further budget overruns, the stock has battled to trade above the 20 day moving average. There is a good chance that the 20 day moving average could once again provide resistance and...
Looking at SOL, we may derive the following from the weekly chart: 1. We are at a major support level. 2. Keep in mind the growing bid on wti/crude. 3. I am favouring a move to upside. 4. Stop loss is in a non traded zone (good for limiting risk). 5. As always - risk management. Let's see what happens. Note: The views provided herein do not constitute...
This stock is moving in a downtrend, and the weekly timeframe shows a possible right shoulder forming. A break of the neckline on this weekly timeframe will signal further bearish momentum. On the 1-hour timeframe, price are trickling down as the momentary uptrend has finished and prices are below that ascending trendline, forming a series of lower highs and lower...