SOL trade ideas
It will be stalling at 130-135...This is not investment advice, just a hobby for me to publish ideas.
Based on the historic performance of Sasol and the strong link its share price has with the price of oil, I am observing that Sasol's share price rally might be running out of fuel (the strengthening of the rand also fizzles out any increase in the oil price, for now). When the oil price was around $80, Sasol traded at approximately R260-R300. With the price of oil at $38-$40, it is starting to become evident that Sasol's short term ceiling will be at R130-R135. Furthermore, Sasol is following a strong harmonic pattern and is reaching the upper limits of its demand cycle. To reestablish demand, the price will need to return to levels of around R100-R110 within the next 2-3 weeks. It will begin its bullish cycle again and hopefully push to levels of around R160.
$SSL SASOL Filling Gap fast Members have been benefiting from this move over the past few sessions, so we shared it .
Lovely gap fill opportunity with no price history resistance
100ma nest resistance
Company profile
Sasol Ltd. is a holding company. The firm engages in the provision of liquid fuels, chemicals, and low-carbon electricity. It operates through following segments: Mining; Exploration and Production International; Energy; Base Chemicals; Performance Chemicals; and Group Functions. The Mining segment secures coal feedstock for the Southern African value chain, mainly for gasification, but also to generate electricity and steam. The Exploration and Production International segment develops and manages oil and gas exploration and production in Mozambique, South Africa, Canada, and Gabon. The Base Chemicals segment involves the marketing of commodity chemicals based on the group's upstream Fischer-Tropsch, ethylene, propylene and ammonia value chains. The Performance Chemicals segment markets commodity and differentiated performance chemicals. The Energy segment sells and markets liquid fuels, pipeline gas, and electricity. The Group Functions segment includes the head office and centralised treasury operations. The company was founded in 1950 and is headquartered in Johannesburg, South Africa.
Sasol ready for 5th upwards wave?Sasol ended the week (15 May 2020) on a positive note completing wave 4 of Elliot wave. It also ended above the 10 and 20 EMA. Taking the upwards trajectory of oil into account, the next week could be the start of the final upward wave (5). If it breaks up, target price to complete wave 5 is +/-11600.
My trading idea should not be construed as financial advise.
Feels like you have to be longI would like to see the gap from 102 to 160 filled in. I have been getting SASOL around my nuts lately. The cup & handle didn't really pan out as expected. We now have a bullish upward trend-line although these are generally the least reliable technical indicator. Gun to head it feels like you have to be long here - but what do I know!
JSE:SOL Sasol Time to Close the Gap?The market volume has been low but it could be time for some action. We have been following the bounce in Sasol since the selling climax (see the posts below). We have now are again pushing the level formed by the gap. The previous attempt has been overcome. Volume is higher during increases and lowers during on decreases. There is negative divergence on the volume RSI also indicating a continuation. Let's see what the week brings.
Sasol ready for a big push if no new bad news arises?I am relatively new and this is my first chart I publish. Please let me know what you think?
$JSE-SOLJSE:SOL
Testing gap from 9 March and making flat top triangle in process.
Wait for break higher and potential gap close.
$JSESOL - We have a breakoutSasol potentially targeting R156 (Gap Fill) after this breakout, should it hold.
Possible Entry Point?Sasol will soon announce their Q1 earnings for 2020 and I expect the news to support my D wave trend providing a new entry zone. PS this is simply my logic and very first attempt reading graphs and possible entries. Do not take this as Financial advice - Just sharing my idea to learn better.
LONG - Expect SASOL to reach highs of R100-R120Expect SASOL to hit around 100-120 in the next 2-3 weeks, esp as the economy opens up in South Africa
SOL ShortSOL about to fall again as negative crude oil drops further
impacting Sasols cash flows
China , US trade wars rumers not helping
bear markets applying pressure
SOL also bouncing on LTR again
SASOL Long positionWe can expect Sasol to still dip for a bit because the daily breakout was not that strong. Overall, Sasol expects a rally and fill the R10 400 and R16 000 gap.
