SOL Long Trade or short term BounceSOL Bounced off Long term resistance / Support on Tuesday
Has Since seen some support
Breakout or bounce today will confirm trend
I will wait for confirmation
Remember to manage your risk
SOLBE1 trade ideas
JSE:SOL | Will price find support at 31400?Maybe. But I won't be buying it.
I think its highly likely that price will bounce off these levels. But catching falling knives isn't my idea of trading, so instead I'll be waiting.
If price does bounce, I think a move back to 35700 is possible. And its at this level that I'm keen on the short.
Alternatively, if price starts closing below 31000 on a weekly time frame, all bets are off and we look to 27500 for support.
Sasol Trend changing?SOL has broken through and closed above the downtrend resistance on the DAILY, a break above and close of the shortterm sideways resistance will give us confirmation that the trend may be turning.
$SOL we are approaching a possible reversal area.Watch the area between R290 - R295 which has a high probability of becoming another area of resistance for Sasol. Ever since the update came out in May regarding the LCCP project and further budget overruns, the stock has battled to trade above the 20 day moving average. There is a good chance that the 20 day moving average could once again provide resistance and halt any further advances for the stock (also take note of the 40 RSI level which has been resistance on the daily chart). Should we trade above the high point of last week (R295) as well as start to see two consecutive daily closes above the 20 day moving average, then only would i start to believe that we have seen a change of trend. Until then, as they say, the trend is your friend!
$JSESOL - No such thing as 'blue chips' anymore..Price action indicating a dividend cut, or no dividend at all..?!
$JSESOL Three large corrections in the last 15 years.The first correction happened during the financial crisis. The other two corrections are in a large part self inflicted with the massive Lake Charles project. Once that project comes 100% online and the drag on earnings due to capital expenditure subsides, the Sasol share price should recover. Not for short term investors.
$JSESOL Well hello there.... confirmed on hourly close above 338$JSESOL Well hello there.... confirmed on hourly close above 338
Sasol - Refueling?So, Sasol’s R357 support held up and between it being oversold (according to it’s 14-day RSI) and have Rand weakness, made a nice little bounce. Will watch that long-term support line at R383.50 as my first target. Should that break, it could see us test the next resistance level of R405.50.
$JSESOL Bottom forming - helped by Middle East tensions$JSESOL Bottom forming - helped by Middle East tensions
SOL - Long InitiatedLooking at SOL, we may derive the following from the weekly chart:
1. We are at a major support level.
2. Keep in mind the growing bid on wti/crude.
3. I am favouring a move to upside.
4. Stop loss is in a non traded zone (good for limiting risk).
5. As always - risk management.
Let's see what happens.
Note: The views provided herein do not constitute financial advice.
$JSESOL Sasol - Multi year consolidation Sasol has been treading water for 4,5 years now. This time as many times before it has hit support. Is this a case for channel wash, rinse, repeat, or will support break this time around. Shareholders seems to be losing some patience if you look at the action in the last few weeks.
Go long on SasolSasol fell sharply when news surfaced of further overspending at its Lake Charles facility in Louisiana. But, with oil on the rebound, it might be a good time to buy the stock at these new lows.
As you can see from the above chart, there is a big gap between price on 21 May 2019 and 22 May 2019. In technical circles, there is a common saying: The price always fills the gap. This is exactly how we see SOL playing out.
Action: Place a Limit Order to go Long with your Limit Price set to R380.00. Set your Stop Loss to R340.00 and your Take Profits to R420.00 and/or R460.00.
SOL - LONG ABOVE R384Slight Resistance for SOL at around R383 to R384.
An upward breakthrough may see it going to about R428.
WAIT FOR BREAK AND CONFIRMATION BEFORE GOING LONG.
ST opportunity on the hourlyHourly close above R372 targets R392... There is still the large gap that could potentially be filled too
$JSESOL Sasol. On long term support - "Again"Sasol once again reaching long term support at 35400 levels and holding. This could be an opportunity if support continues to hold to keep for the longer term. Top of the consolidation range is 48900. If Sasol breaks bottom support, stick to a stop loss.
SasolSasol at a critical level on the weekly. A weekly close below that support levels can take us below R350.
However in the short term (and Ultra short term) we can see a bounce.
