SOL 3 reasonsSOL i have given you 3 chart bullish patterns
that indicate progressive up trend yet the stock
consolidates Sasol is oversold yet the market
goes nowhere the selling off of assets might be the next
trigger so be patient.
SOLBE1 trade ideas
SASOL - Nothing "Bullish" about this chartSasol still got a way to find a supportive trendline
Also a move higher on oil prices from here is very unlikely with current global events
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:SOL
Sasol Trade Plan 01/07/2020We are beginning to notice a gradual down trend on Sasol as we are seeing higher lows. We need a positive day soon to break the short term trend. R 130 support managed to hold off the share price yesterday but if we have another negative day today it’s fair to expect we will break this today and March for R 125 once more. This will be a good partial buy in I will partake in but I will be conservative, another really good partial buy in will also be at 120. I’m sure a lot of buyers are eying this entry point aswell. Chances of us hitting 100 are mild at this point but today’s performance will give us more clarity on that possibility. Opening at a posit Will put us at R135 resistance test. We managed to cross this two days ago with no sweat but we were promptly brought back under it yesterday. Overall expecting negative outlook today and ready to buy at those dips mentioned. Best of luck
Sasol Trade plan 26/06/2020Sasols triangle was broken yesterday at open and thus making the incline support line irrelevant at this point. The decline resistance still stays as we are noticing a pattern of lower highs and thus we can expect the next high to rebound on this resistance. That could happen either today or Monday.
If we open at a negative we can expect a tussle at the R 132 price point as this has been tested 3 times already. I’m personally not expecting it to hold so we can also expect a rebound at R 130. The R 130 support has been strong in this horizontal trend so a partial buy in is possible here, I would wait for a strong candle stick or second candle stick to confirm rebound before buying in.
Personally though I’m not expanding on the Sasol portfolio, most stocks are down and would rather expand on something more secure.
Review of Sasol direction going forwardAfter taking into consideration the price action for the week I have reviewed the trend analysis for the short term. Using built-in triangle pattern we see that the pattern actually extends longer than previously expected. Also, symmetrical triangles break either up or down usually between 70 to 73% of the way to the apex. I have marked these crucial points on the chart. I am personally leaning more towards a break out to the upside to retest 180 level than a break out to the downside to retest the 120 level for support. The longer time-frames are still very much skewed to the upside and short-term drawbacks I believe will be short-lived and more emotion-buying than anything else.
Do not take my word for any decision-making,please do your own research and analysis and come to your own conclusions.
Sasol Trade plan - 25/06/2020At this point we have noticed a triangle starting to form where the fluctuations are getting less and less. Opening at a positive will keep this triangle formation going and we can expect a rebound at just below R148. At the current position though it does look like it has broken through the uptrend support line but we will only get confirmation at open if it does continue its downslope. Overall still a horizontal trend, making it harder to profit from fluctuations but good thing is we will get a more clear direction after midday today. Still in neutral standing although R135 still seems like a good potential buy, I would personally wait for a successful rebound before taking this opportunity.
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.
