$JSESOL - No such thing as 'blue chips' anymore..Price action indicating a dividend cut, or no dividend at all..?!
SOLBE1 trade ideas
$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.
finally turning? - Waiting for hourly close above R436finally turning? - Waiting for hourly close above R436
Sasol – Running out of FuelIn one fail swoop, Sasol not only dropping 13% in one day, but also broke a very strong support line at R383.50. Main reason was the Lake Charles Project not only seriously going over budget, but also starting to look like the Never-Ending Story. Debt levels are becoming a serious concern and although the lowish PE multiple, the outlook still doesn’t look good.
$JSESOL now extremely oversold according to its 14-day RSI and also serious price underperformance relative to the FTSE/JSE All Share. Any person brave enough (not one of them) to go long in Sasol for a possible recovery, should watch that R357 support level. This will surely be my stop-loss if I were long.
Crazy Sasol tradeCall me crazy, but today's Sasol shocker provides an excellent trading opportunity. Today's "flash crash" has taken the price back down to a monster support level and I really think this is one for the punters. If fortune truly does favor the brave, then I should be just fine. I have bought this support level for a bounce back above R400.00 and I wouldn't be surprised if we saw R420.00 in the coming weeks. Given the information we have on the additional $1 Billion over-spend on the project, I think this morning's move is a MASSIVE over-reaction and many many forced sellers got hurt. Be brave and get back in
SASOL (SOL) 1-HOUR TIMEFRAME SHORTThis stock is moving in a downtrend, and the weekly timeframe shows a possible right shoulder forming. A break of the neckline on this weekly timeframe will signal further bearish momentum. On the 1-hour timeframe, price are trickling down as the momentary uptrend has finished and prices are below that ascending trendline, forming a series of lower highs and lower lows and also forming a series of bear flag patterns. My figures are as follows:
Entry: Now
Stop Loss:44 000
Target Take Profit: 40 000
Is it just a coincidence that the crude oil prices are also falling? We will never know.
Sasol ADR - Monitoring For A Long Term Downside Break Sasol ADR (NY): Taking a step back, I’m once again having a look at Sasol’s US listing. At current levels, the share trades just above a 3-year incline support that appears to be a part of bigger bear flag formation that had been in development since the share made a ‘final’ peak in September 2014. It should also be noted that the 200-month moving average, which acted as support from April 1999 to July 2015 is now serving as resistance. Holders of Sasol within a long term equity portfolio should monitor the share for break of support as this may signal a shift in trend from sideways to bearish.
NYSE:SSL
