Sasol AnalisysIts safe to say that as of 01/12/2020 Sasol share price had a trend change as it officially broke the massive down trend resistance that as been there for a couple of years. The share price now sits comfortably above the R200 price mark and up almost 1000% from a year ago. They decided not to go through with a rights issue, the oil price is sky rocketing and debt management seems to be going well. Safe to say thing are really looking good for the company and investors have noticed. As it is still in recovery, the next price target is R320 which is an additional 39% from current price point. Depending on the interim results, we could get there by the end of the year.
The current uptrend has been moving in a similar pattern and if we assess the progress of the current wave, it would be safe to expect a bit of negative movement heading towards the uptrend support before another positive break out possibly to around the R 250 mark.
Overall Sasol is a long.
