The first correction happened during the financial crisis. The other two corrections are in a large part self inflicted with the massive Lake Charles project. Once that project comes 100% online and the drag on earnings due to capital expenditure subsides, the Sasol share price should recover. Not for short term investors.
This share is starting to form what looks like a channel between 1830 & 2500. A possible buy could be attempted at the 1830 levels, but be warned. This share is in limbo after the recent news of corruption within this company and the spate of director resignations. As is the case with Pinnacle, now called Alivia. This could haunt them for a while. In the meantime...
Woolies broke from a 3,5 year downtrend today after a positive trading statement. Two targets were identified if it can maintain momentum above the break: 5450 & 5700.
367 offering some support. Cell C bond downgrade not doing them any favours. Will be watching carefully over the next couple of days, but unless these guys make a plan with Cell C, it won't be doing the share any good over the longer period. No position.
Quite a bit of downside potential still on the ALSI. RR is to the downside for now.
Current levels indicate we are at a decision point for either a possible bounce off support or a break of support and downside to support level lower down. Wait and see approach.
Warning to longs to maybe start taking some profit.
Little bull flag break with two targets.
Not a bad performance by the Satrix Top 40 ETF for the year till date.
Aspen is consolidating in a 11300, 9100 range. Buy the bottom, sell the top, till it breaks.
Strong showing by this Naspers spin off. Up against some resistance at the moment. Trading in a defined channel.
Aka $JSENPN Naspers up against some resistance.
"If" resistance holds, 137 could become a target once again.
Long term uptrend is still in place (just), we broke the short term downtrend. The question however is whether the uptrend will resume momentum to challenge previous lower highs and the ultimately the all time high.
Watch for a 480 break. That will open a 515 target price.
Sasol has been treading water for 4,5 years now. This time as many times before it has hit support. Is this a case for channel wash, rinse, repeat, or will support break this time around. Shareholders seems to be losing some patience if you look at the action in the last few weeks.