SOLBE1 trade ideas
SOL Cup and HandleSol C&H patter completed
wedge patter break out looming
bouncing on LtR
first time i see a Cup & Handle within a larger Cup & Handle
Sasol preparing for a Recovery
wait for the break
Ascending triangle Ascending triangle - think the price would break the resistance band and head to 160, but will fall first to +-130¬135
Is Sasol setting up another test of that line?Kept back from breaking that trend line convincingly, will have to keep an eye one it.
Disclaimer: The views provided herein do not constitute financial advice.
Please feel free to comment, critique or add to my view, I welcome feedback, whether it agrees with my views or not.
This idea is based on my strategy, please consider your own before using it in any way. Always use a stop-loss and manage risk.
Possible triple top reversal incoming?Sasol seems to have fallen into a triple top pattern on the hourly time-frame, with 152 acting as strong resistance and 132 acting as strong support. If Sasol fails to break above 150 convincingly in the next day I am expecting a decline to 132-ish again. If that level breaks a drop to 117 seems very likely in the short term.
JSE:SOL Sasol Good VolumeIt could be time for the push to test R180 again. Good volume and higher highs are indicating that the move to R180 is about to start. Will be watching this week.
Trade Plan for Sasol - 22/06/2020We had a very good day on Friday attempting to break R 151 again but once again failing to do so and finishing off the day at R 146.00 which is around 2% up from open.
Today we are hoping for another positive open to test R 151 again and we can honestly expect another rebound, it sort of feels like chasing the end of the rainbow at this point where breaking through R 151 will really be something special.
If we open at a negative, R 135 seems like a decent support we can expect a rebound for a partial buy in. So we are on the fence right now.
I would recommend you also read up on the latest news on Sasol which provides insight as to why we actually had the rally put to around R 172 and fund managers valuing Sasols stock to around R 80. So if we ever happen to see a drop to that share price it would be expected.
A look at the bullish scenario!After a weekend of analysis and considering some alternative patterns I came across this clear ascending triangle pattern. We now had 1 of 3 scenarios that WILL play out: either the price will break up, break down, or consolidate further and trade sideways for a while as the market decides where to put it's money.
According to Bulkowski's rules for ascending triangles they will break up 63% of the time: thepatternsite.com
The RSI is neutral with more upside potential. The hourly MACD and weekly MACD shows an upward trend - making it more likely that we will indeed break up out of this triangle.
SOL ShortSOL weekly on the verge for pullback
daily chart has room to go so bears are in charge here
Sasol Trading Plan - 19/06/2020Mild day today for the Sasol share price. As per previous analysis we opened to immediately test R 151 which we are struggling to break through and unfortunately today we are held back again. We had steady drops through out the day and a bit of positive news gave us a little jump towards the end to help us finish at R 142.85 which is 0.5% below opening price.
Plan for tomorrow, if we open at a negative we can expect a rebound at R 132.77 which cemented itself today, if this doesn't hold we still have a very decent support line at R 130 which in the past has held very strong and can be considered a good buy in point. These rebound will then give us the opportunity to retest the R 144 share price.
If we open at a positive we can expect another immediate test of R 151 which is still the last strong hold keeping us away from R 165. Its fair to expect another rebound at the last resistance line.
Careful to note if by chance we open with a gap over R 151, we should expect a drastic rebound at or before R 165 to return and close the gap. But that is still unlikely.
Sasol Trading Plan 18/06/2020A very disappointing close of the Sasol share price today especially because it held strong throughout the day. Unfortunately when US markets opened we started seeing a slump in the share price. It this point it’s fair to expect a further drop in share price to close this mornings gap, giving us a partial buy in opportunity at R 140 where we can expect a rebound. If we manage to open on a positive we will go back to testing the R151 resistance which has held us back today. Currently at R 143, we are at a decent buy in, I would exercise caution as there is A good chance we might close the gap. Overall still looking positive, R 120 share price still looking unlikely.
Where to next Sasol?Seems Sasol stuck here, whether it breaks through or is denied her would be interesting.
Disclaimer: The views provided herein do not constitute financial advice.
Please feel free to comment, critique or add to my view, I welcome feedback, whether it agrees with my views or not.
This idea is based on my strategy, please consider your own before using it in any way. Always use a stop-loss and manage risk.
Late Midday analysis Markets opened more positive than I was expecting, shot straight to test 151 resistance. I honestly didn’t think this resistance would hold that strong but it has. Price has stabilized and we looking to close at 150 as the share continues the horizontal pattern. At this point the next partial buy in is at R144 but expecting a minor rebound at 147 as well. If we close at 150, one positive run tomorrow can shoot us past the resistance and we can aim for next resistance at R 151.
Summary: Hold and wait. Partial Buy at 144.
Sasol Weekly ForcastIts been an interesting week for Sasol, even pushing up to fill the gap , lets quickly check what to expect this coming week.
At (1) is where we saw a retracement , which serves as a confirmation of this analysis. Traders can trade the correction for investors its a trap?
At (2) is where i expect the push up to end, before we continue downwards again. Should price push above (2)? ===> (3)
At (3) , is where i expect the push to end , should it break past (2), looks familiar? double top ? possible...
At (4) is where i am eyeing at most...lets quickly break down the area, R82 1st support , R77 2nd support , R84.5 key turning area , R88 1st resistance , R91 2nd resistance.
Comment: RSI shows a bearish market , im going short....
JSE:SOL Sasol Still looking for a test of R200We have been following the bounce on Sasol from the selling climax in March. After closing the gap we have seen a pullback on declining volume. This could be a preliminary supply or a buying climax. We will have to wait and see. We are now again looking or the test of the 200 Day MA and test of R200. Once this has occurred we will follow the larger timeframe range that is forming.
Sasol Trade plan for 17/06/2020We had a very Luke warm day today. JSE traders are still nervous. We were not able to close above 144 but we were close enough. Share price has confirmed we are now out the downtrend and looking more neutral. R 120 is a strong buy point and if we reach R 130 this will be a good partial buy in point. I’m still not that convinced about R 135, but this can also be used as a partial buy in.
Sasol Midday analysis - 15/06/2020Sasol this morning opened at a negative trailing to test R 130 but was successfully held back by the minor R 135 support line. This minor support managed to rebound the share price and break the downtrend we've been held to most of last week. We are currently testing the R 144 resistance and have not broken it successfully as yet. Markets still seem Luke warm so we can expect this horizontal trend for the rest of today. As per my previous analysis I will be happy with a close around R 144 - R 150.
Seeing the R 100 share price is more and more less likely. Buyers are holding of pretty well. At this point, even reaching R 120 would be a significant buy in position.
SOL, I'm open for other ideasprice broe a channel and shot up to 180 then retrace back to the channel. so im looking for it to respect the channel , to find support at 100-110 at 50% fib level...if it breaks the channel without hitting the 100 mark we can look for target 255
Sasol Trading Plan - 15/06/2020Interesting close we had on Friday. Sasol again with a horrible open but able to fight back positively. We have broken through the downtrend resistance and this could be a sign of a trend change. If we open to test R 130, it could mean the down trend is possibly continuing and this will be a good buy in position. breaking Through R 130 will give us another buy in position at 120 which has held very strong during the past week and can confidently expect a rebound. If we open at a positive we can expect to hover around R 144, having a very positive market will push us towards the R 152 resistance which i'm quite positive we can break easily and aim for R 165.
