SASOL - Still early days - Watching SASOL closely to see if this cup & handle pattern materialises
- Currently no longterm position on
JSE:SOL
SOLBE1 trade ideas
SASOL symmetrical triangle: Just an idea (for fun)Hi all,
Just a silly idea... Lets see how it plays out:
A symmetrical triangle with levels 68-70 area break, could send SASOL up to 95 area. A triangle break down from 59 area, could send it down to 39, which should be a juicy level to start nibbling again, then nibble a bit more around the FIB 78.6% (36.26).
Also waiting a bit for the RSI to be oversold..
Let me know your comments... Not financial advice. Goodluck
JSE:SOL Sasol Accumulation on the lower timeframesAfter a high volume selling climax (SC) we have seen the accumulation of Sasol stock. After a spring and signs of strength (SOS) with volume, price has broken the trading range. Now we have seen a pullback to the trading range. After a smaller trading range at these levels, the markup to around the R200 level is on the cards.
$JSESOL To much too fastCould be setting up for a very nice short position. Watch for those bearish candles. Cowboy move, not for orphans and widows. Stick to stop losses.
Long SASOL (SOL) DailySasol have experienced a great blow to their share price due to South Africa's lockdown but mostly because of the great decline in Oil Prices. Price have broken a short term trendline. This indicates possible forward upwards movement to follow. The recovery of SOL share price will not happen overnight and therefore it will be a buy and hold position.
Target 1 is in regard with the possible resistance trendline and profits could be taken at R85,00.
Target 2 is in regard of a strong formed support level to turn into possible resistance at R200,00.
Target 3 is in regard of the long term formed resistance trendline (red) at R300,00.
Always use Risk Management . Check out my Telegram channel otforex to receive live signals
SOL LongSOL oversold technically has reached value point
time to start nibbling for the investor
signs of weakening bear pressure
JSE:SOL Sasol Effort Without ResponseThis week the volume on many stocks have increased after significant declines. We identified Sasol potentially having a selling climax (See post below). Going down to the 1h time frame we see a trading range developing with a large operator buying at R30. However, equally, there is supply matching this demand. As a result, we see effort (high volume) without response (small spread) and the expected automatic rally (AR) has not materialised. It is time to be cautious and we will have to wait and see who wins. It depends on if the amount of capital the buyer is prepared to invest is enough to overcome the supply. While there is still such large supply we can expect the price to range in the trading range formed on the 1h time frame.
JSE:SOL Sasol Selling Climax?Sasol has had a dramatic decline this week. Price has spiked below the downward stride (Oversold line) on the back of the drop in oil prices. Volume has been the highest recorded. This could be a selling climax with a reversal bar indicating the possible start of an automatic rally. The rally should be as volatile as the decline and could close the gap that was formed, taking us back to around R200. This would then define the boundaries of a trading range that should form if one follows the Wyckoff logic. This trading range should take some time to develop.
Sasol crumblesThe patterns were so clear, anyway, it’s seriously oversold, and 10 000 pips oversold under Fibonacci; one double bottom and some reassurance from Sasol and we’re balling upwards!
Good luck and follow me for more
Sasol (SOL) Relatively big volume posted in JSE late day tradingSASOL SOL ... quite a bit of volume with relatively flat price in latter end of todays trading. ... seems the price has fallen about 80% in 2020 already, most of it this week. Perhaps disproportionate drops and out of sync with global oil prices maybe? Why so soft?
Weekly game plan 8 March 2020 - SOL Current open trade. Moved target price to R130 (original target was at R160). Open to idea of moving target to R80... depends on what Oil does really.
$SOL Sasol. Bear flag break target reachedNot claiming I saw this coming, just that on a chart it makes sense now (after the fact). I'm adding for a bounce.
SASOL analysisits bad thats all i can say i tried looking for support and marked possible reversals (support) but im expecting it to test the lower end of the channel the best thing is to sit on our hands
Pullback Play!Sasol is still very much in bearish territory but i am going to take a pullback play into the yellow zone here. This has RR of about 2 but because i am going against the general trend any signs of resumption of the trend i will jump ship
$JSESOL Technical damage. Bear flag breakThis is not the type of action you want to see after a 5 monthly consolidation period. Target on this break is 17200. Sasol has been such a disappointment over the last couple of years.
$JSESOL Sasol. Channel breakSasol broke this channel and retested today. Targets on the downside is 21400 & 19200.
SOL: temporary correction pending?Daily MACD bullish crossover might just trigger a temporary correction.
JSE:SOL Sasol Things Not Looking GoodSasol is looking week. Price was unable to get back to the breakout level and after an upthrust (UT) and lower volume test price has pushed down to the previous low. Now it looks like the next markdown is about to start with some volume.
SASOL LTDLooking to be bullish with the bulls here beased on the diagonal resistance breakout which is currently giving a re-test and there is additionally the RSI Divergence to confirm this buy
