We've held onto the Sasol short and extended the take profit. Purely based on the bigger picture on a weekly chart. There's an even larger Inv Cup and Handle. Price has broken below the Brim level and entered into a Down regression channel. By the looks of it, the price will tank down to R83,96. The nature of the trade is HIGH probability as the Price<20...
Rising Flag formed on Sasol, the price broke below. And it was all downside from there. We saw the price tank way past our target of R184.52 and then some. Now I'm getting a lot of requests to what we should do. Well personally I'm just waiting. We need to be patient to wait for another consolidation and breakout. Just as every other market. Trading...
Rising Flag formed on Sasol, the price broke below and beautifully it went down on a strong trajectory and declination. The price remained below the 200MA confirming the bear market for the company. The price came down in a strong fashion takeing it to the first target of R184.52. The oil price also coincided with the Sasol price having the downtrend dominate...
Rising Flag formed on Sasol after the continuous downtrend. We see price remains below 200MA which makes a nice risk and reward trade for the short. Target remains at R184.52
Sasol boxing and holding onto important support at R225. A convincing close above R263 should see this move to the next target at R318
Sasol seems to have lost it's correlation with oil in recent months
JSE:SOL has tested this MA several times and failed to remain above it. The stock is back above this level, but there's a bit of an overhead resistance. Taking TVC:UKOIL into consideration, a long position is worth a punt.
JSE:SOL better hold that R225 level. There's potential pain below it. The rally to R265 was promising, unfortunately, it ran out of steam.
JSE:SOL seems to have found support near R226 and has fought its way to low R260s. A close above R265 will be interesting. Let's not discuss oil prices and other stuff that's going around globally.
W Formation is forming on Sasol. We are seeing the downtrend slow down in momentum, and it looks like the price wants to break up and out of the down trend. This is a bit premature for a breakout trader, but it's still good to watch and prepare for. We have other indicators that still show downside (but potentially changing trend) 200<21<7 - Bearish RSI <50...
Inv Cup and Handle formed on Sasol and we knew once there was a break below the brim level, downside was to be followed The other indicators via peripheral also confirmed it as 200 > 21> 7 RSI<50 (Lower highs) Target hit was R221.40 Now the trend is still down, there aren't many strong levels of support (liquidity). So this means, we are still looking for...
Inv Cup and Handle formed on Sasol. The price broken below the brim level. The gap was filled when the price went back up to close and form the right handle. Then the supply side kicked back in dropping it further. We also see bearish indicators. 200 > 21> 7 - Bearish RSI<50 (Lower highs) - Bearish Target R221.11 ABOUT Sasol is a global energy and...
JSE:SOL had a strong week, likely to close above key MA, on volume.
Inverse Cup and Handle has formed on Sasol. It's a rare Chart Pattern where an Inverse Head and Shoulders never formed the right shoulder This means, the momentum to upside is strong and the price does not want to retrace back. 7>21 - Bullish RSI >50 Bullish Target R365.50 GENERAL INFO Sasol (founded in 1950 in JHB) is a large South African multinational...
JSE:SOL pierced through the 200MA with decent volume. Bullish? The MA is still declining.
JSE:SOL has printed a new 52 week low. R248-ish is still possible if the stock continue to weaken. No position.
TVC:UKOIL is now trading below $76/pbl. Not much, it was one of those imaginary support levels. It might go to the sixties. How will JSE:SOL handle this?
A wise man said "remember who drew the lines". Based on these lines, JSE:SOL doesn't seem to be in good shape. I hope it's just badly drawn lines.