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...
Sasol has broken down from the strong upward channel that has been in place since February of this year. In addition, it has also failed to make any progress above the 200 day moving average which makes this technical structure look very shaky. There is some strong support between R385-R400 should we get there in the weeks ahead which could potentially be a good...
Wait for the market to drop to the demand zone indicated with the red arrow facing up and buy there targeting the supply or FTR area
The stock price for SASOL is moving in an ascending channel, and my natural bias would be for a short position. However, it is always best to wait for price to show its hand before making any bets or predictions. It is still possible for prices to continue up as the general trend has been bullish.
On SASOL, I foresee an unfolding Quasimodo pattern as it gave us the new high which on smaller Timeframe is around the supply zone. I expect it thus to drop a little towards the 40484 price range /area then take in the buyers up to the target at 49386
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...
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.
Strong sell off in oil offers potential upside Large capex for increased production Long term hold