Sasol is an international integrated chemicals and energy company that leverages technologies and expertise of over 30 000 people working in 33 countries. Sasol develops and commercialises technologies as well as build and operate world-scale facilities to produce a range of high-value product streams, including liquid fuels, chemicals and low-carbon...
JSE:SOL is showing a bullish harami pattern, which is a reversal sign.
So, we can expect a reversal from the current downtrend.
If this turns up, we can expect resistance around the 450 and the 480 price areas.
Sasol ADR Monthly, $33.42
- Triple Top: May '08, April '11 & July 14
- Since declining from $60, the share has developed a bear flag pattern.
- Recently we have seen the price being rejected at the upper boundary of the channel (flag).
- Bear flag break targets $21 over LT.
Short term I have a neutral-bearish view on SOL. Playing the edges of the current balance. We are near Larger Time Frame support levels though. Any selling below the currently balance will likely find buyers at each level lower.
Starting a new post for October to track the structure of SOL (See link below for Septembers post). Last month it looked like the markup had started and trading in a strong upward channel. At the end of the month the lower support line seemed to have broken. However, there has been effort to break the trend without response (high down volume but no progress in...
Levels:
Entry: 56300
SL: 58557, eg just above the Aug 30 high 2257
TP1: 52240
TP2: 48420
Why:
(1) Technical rejection of the August 30 highs - eg. 3.4% rally followed by complete reversal to opening. N.B: This on a backdrop of a USDZAR (orange) and WTIOIL (red) rally.
(2) Potential overextention of the recent USDZAR rally.
(3) Alternative equities trade to...
Following the Wyckoff logic: Sasol has been under accumulation with bids coming in at 36000. Volume has been declined since 2017 showing the stock has moved to strong hands and the markup has started. Will wait for a backup to the trading range which would label the market to be in Phase D or pullback in which would indicate we are already in Phase E. But...
SSl recently has been recovering from a market correction. However, even tho the coppock curve and the ADX are saying this could be a buy, I see a hammer candlestick forming. This shows that the prior trend could be changing. So, I put a short position below the 50 MA. Also, volume seems to be decreasing.
/US AND CANADA HAVE LOTS OF NATURAL GAS /CHEAPER COSTS THEN OIL/GOOD VOLUME/MACD AND STOC CROSSED/CCI AND PERCENT R IMPORTAnt see in our book on amazon/money flow and relative strength good/adx starting/diversify/mix longs with some shorts/new technology/enter one good candle above close/stop loss close in cloud
