SOLBE1 trade ideas
Sasol - Actionable AreasEquities | SOL Sasol | For the moment I see SOL as a name in consolidation mode, with tactically actionable levels. Use 27200c as a soft landing in an upward trend i.e the higher lows. You'll also noticed that the 50-day moving average is starting to act as a support zone while starting to turn up.
Major Trend Reversal???If we close Monday above 28328 we take the trade long!...We could be potentially witnessing a major trend reversal. We had a consistent downtrend since end of May, a low made on 16 August then a break of a major trendline, both tenkan and kijun violated in the process to reach a higher high of 31532 on 17 September. Then from there as if straight from an Al Brooks book,we tested the low again, then now on our way up. So we could be headed to that prior high and if bulls remain strong go to where the downtrend started at 36033 area.
Entry: any close (daily candle) above 28328 (2 small positions)
SL: 26536
TP 1:31538
TP 2:36033