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BEE - SASOL LIMITEDBEE - SASOL LIMITEDBEE - SASOL LIMITED

BEE - SASOL LIMITED

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SOLBE1 trade ideas

Sasol Midday analysis 12/06/2020Interesting start to the morning. As predicted yesterday, Sasol opened to immediately test the R 120 downtrend support line which I marked as a possible buy in point and provided amazing rebound to help anyone who bought in at this point. This was the same pattern we saw yesterday and for now we can’t expect a test on the down trend resistance. Positively the most we can expect is to close around R 125 - R 130 as we are currently testing major support at R 130. Worst case scenario we will be closing at around 120 - 124. Overall we are still in a down trend and as stated in yesterday analysis, very possible we could reach R 100 a share on Monday.
JSE:SOLShort
by AfroTez
12
Sasol Trade plan for 12/06/2020Extremely horrible way to start the day today but glad Sasol regained momentum. Better day on the JSE as compared to yesterday so perhaps we can expect better market sentiment tomorrow. Good day or not it is safe to expect another massive dip at market open and possibly test the supporting down trend line at R 120. This again may be a good partial buy in if anticipating a rebound as we saw today. If markets open positive, we can expect a rebound at the resisting trend line. Breaking through the resistance trend line could be a good signal to partial buy in, marking a change in trend and hopefully Sasol pushing to test R 165 as a modest target. Overall though I am leaning towards the down trend continuing till the R 100 mark on either Monday or Tuesday.
JSE:SOLShort
by AfroTez
11
Sasol Trade Plan for 11/06/2020A bloodbath for Sasol today. Share prices saw a sharper drop than anticipated. We have seen a pattern of sharp opening and we can expect the same at market open. I’m anticipating we will see an immediate test of the R 130 support line, this could be an opportunity to particularly buy again if you are optimistic the share price will rise. This is the last major resistance keeping us Away from R 100 share price resistance where we can expect an influx of buyers that will hopefully drive the price back up. At this point I have exited majority holdings and slowly buying back in at each support line reached. Very good possibility we could hit R 100 per share on Friday if market sentiment stays the same.
JSE:SOLShort
by AfroTez
11
Sasol Midday Analysis 10/06/2020Sasol saw a major drop in share price early in the morning and seems to have stabilized at around R 144,53 after closing the gap on the left. This may be a good opportunity to buy back in partially and observe movements for the rest of the afternoon. Enough buyers seeing this as an opportunity can possibly drive the share up to at least R 158 by days end. If price continues to drop, another possible opportunity to buy in would be around R 135,23 and then R 130 after that although if it reaches 130, it may be a sign the share will continue to drop. Best case scenario from my view for today is we will close around R 147 to R 150. If we break through the R 144 support line, we are likely to finish around R 135 to R 140.
JSE:SOL
by AfroTez
11
Sasol Trade Plan for 10/06/2020Rough day on the JSE today and hoping to have more optimistic market on Wednesday. If the market opens on a positive we can expect it to hit the R 178,23 resistance line. I’m optimistic if it swings this way it will easily break through and retest the R184,07 resistance line. If the market is still nervous we can expect a rebound at the very first resistance. If the market opens on a downtrend, I doubt the R 169,30 support will play any roll and the share price will immediately test R 165,05 support line which held well on today’s trade. We then expect a rebound and recover until midday when we can re-analyze.
JSE:SOL
by AfroTez
12
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.
JSE:SOL
by Bdog1995
10