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.
Bear Rectangle is forming on Sasol as it previous did a few months ago. There are bearish signals as the downtrend is continuing. The 200 > 21 >7 MA which once the price breaks below R277.95 we will have our next target at R225.43. This confirms with the ongoing drop in oil price...
TVC:UKOIL is back at the previous support level. Will it find support again? If $85-ish fails then $76-ish becomes the next potential support level. What does this mean for JSE:SOL NYSE:SSL ?
JSE:SOL is now trading on a declining 200MA, the stock met resistance at the 200MA. TVC:UKOIL , if JSE:SOL has any relationship with it, is also trading below a declining 50MA. Negative setup.
Inv C&H formed a while ago. We went short when the Rectangle Pattern broke down and banked a profit. But now that the price is staying in the downchannel, tells us there is more downside to come. EXTRAS: Price < 200MA Bear channel Target 2 - R212.25
JSE:SOL struggled to move past the 50 MA, the stock in now back at the recent rally point. If JSE:SOL break below R280, R250 could be the next potential support level.
TVC:UKOIL is still on the downtrend, and JSE:SOL seem to be following it. At the moment I wouldn't be surprised if JSE:SOL test R245/share.
JSE:SOL has been trading below a key MA since early July, it showed characteristics of a Stage 3 setup. A selloff was seen on the ex divi date, and some market participants were comfortable to assume that the selloff was due to ex divi, fair enough. The dividend has been paid now, JSE:SOL is now below a minor support level, it it continues with the downward...
Sasol broke below the Rectangle (Bearish) formation... It looks like there is a lot of downside to come for the stock as well as oil... The next support is based on the last years 12 September 2021 level at R245.00 That's where Sasol has a good chance of reaching. Thoughts?
Sasol Limited, together with its subsidiaries, operates as an integrated chemical and energy company in South Africa. The company operates through Mining, Gas, Fuels, Chemicals Africa, Chemicals America, and Chemicals Eurasia segments. It operates coal mines; and develops and manages upstream interests in oil and gas exploration and production in Mozambique, South...
Sasol Limited, together with its subsidiaries, operates as an integrated chemical and energy company in South Africa. The company operates through Mining, Gas, Fuels, Chemicals Africa, Chemicals America, and Chemicals Eurasia segments. It operates coal mines; and develops and manages upstream interests in oil and gas exploration and production in Mozambique, South...
JSE:SOL is showing all of the signs for a short position. EMAs, MACD and Stochastic have all crossed downwards. Looking for a move downwards towards the 302 level
Sasol has had an incredible run over the last year and has been in a clear uptrend, higher lows and higher highs each time. There are no signs of this abating, although fundamentals should be considered. I believe that if the oil price stays elevated, sentiment will continue to drive this share higher where it could close the gap from May 2019, closing that gap...
Higher highs on the daily, crashing through a resistance. We are highly likely going up on this one. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere...
JSE:SOL has broken out of a triangle pattern, signaling a short position. If it continues down, I think we could see a move towards the 22500 support region.
Considering the Brent Crude OIL downward trend from June 2008, overall. We can see that there was a break in the trend recently, showing bullish signs. However there stil is the horizontal resistance at 85 level. On SOL side there is agressive bullish action, but limited to the brent crude oil price movement, if the oil price can breach the 85 resistance level...