Sasol, short?TVC:UKOIL is still on the downtrend, and JSE:SOL seem to be following it. At the moment I wouldn't be surprised if JSE:SOL test R245/share.
SOLBE1 trade ideas
SASOL limited bearish viewThe energy and chemical company SASOL limited has printed out a very observable pattern of a head and shoulders type formation on the monthly candles and good support turning into resistance and confirmed with nice bearish momentum following a rejection on the 1.618 fib level. the stock is going to have a bearish moment long term according to the price action that it has displayed. furthermore the countertrend line break will act as more confirmation of the drop to less than 2125 Zac.
#John Kalumba.
SASOL - Short IdeaFollowing up on the previous observation, it was important for bulls to defend the R322 level and this has since broken.
I will be looking for opportunities to short while price remains below the 50 day moving average which has since formed a "death cross"
Stoploss = Daily close above R335
Target will be the next swing lows around R230 and then measured move of the head &shoulders pattern .
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Sasol, weakJSE:SOL has been trading below a key MA since early July, it showed characteristics of a Stage 3 setup. A selloff was seen on the ex divi date, and some market participants were comfortable to assume that the selloff was due to ex divi, fair enough. The dividend has been paid now, JSE:SOL is now below a minor support level, it it continues with the downward movement, it may test R290/share
SASOL SELL Box Formation 13 SeptemberSasol broke below the Rectangle (Bearish) formation...
It looks like there is a lot of downside to come for the stock as well as oil...
The next support is based on the last years 12 September 2021 level at R245.00
That's where Sasol has a good chance of reaching.
Thoughts?
SASOLPurely based on what the technicals in this chart are 'saying' to me, this is a 'short' for a short-medium term move to 230!
SOL Tactical/Price Action Model.
Zooming In: "Lacks directional bias. Look for break of range to trigger directional move + Downward trending moving averages to act as resistance + Price nearing 50-61.8% Fib retracement."
SASOL - Observation Price is coiling/consolidating between the 50 dma/200 dma
Below R322 things could get ugly and open the gates for further downside.
NB: upcoming dividend
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
SOL: mean reversion tradeA high likelihood of a mean reversion trade is possible.
Remains above its 200-day simple moving average.
Furthermore, a price action above 22500 supports a bullish trend direction.
Further trend support above 35100.
Crossing above 35900 might target 38300.
Crossing below 34300 might be the first sign of pending weakness.
Upside price momentum (see the lower panel) also supports a bullish trend direction.
SOL|ZAR - Wil we see more downsideSasol Limited, together with its subsidiaries, operates as an integrated chemical and energy company in South Africa. The company operates through Mining, Gas, Fuels, Chemicals Africa, Chemicals America, and Chemicals Eurasia segments. It operates coal mines; and develops and manages upstream interests in oil and gas exploration and production in Mozambique, South Africa, Canada, and Gabon.
Now 22% undervalued after recent price drop
- Over the last 90 days, the stock is down 2.9%.
- The fair value is estimated to be R447, however this is not to be taken as a buy recommendation but rather should be used as a guide only.
- Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable.
- Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 391% in the next 2 years.
SOL|ZAR - Now 22% undervaluedSasol Limited, together with its subsidiaries, operates as an integrated chemical and energy company in South Africa. The company operates through Mining, Gas, Fuels, Chemicals Africa, Chemicals America, and Chemicals Eurasia segments. It operates coal mines; and develops and manages upstream interests in oil and gas exploration and production in Mozambique, South Africa, Canada, and Gabon.
Now 22% undervalued after recent price drop
- Over the last 90 days, the stock is down 2.9%.
- The fair value is estimated to be R447, however this is not to be taken as a buy recommendation but rather should be used as a guide only.
- Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable.
- Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 391% in the next 2 years.
Sasol - Short/Sell Target Reached At R374Wednesday's Original Idea Attached.
Sasol - Target Reached At R374. I looked for an upside gap close and 8 21 re-test at 408-410 before the move lower. This share was the biggest decliner on the JSE Top 40 today, shedding 8.4% and exceeding the full target of 37400c.
Including SOL, this week I highlighted 8 opportunities to bank/take profit on published trade ideas. Some from this week and others following through from last/previous weeks.
There were zero stop-losses hit i.e. failed ideas. The last two stops hit were last week, that being IMP (leg 1 & 2 targets hit, 3rd stop) and SLM (leg 1 & 2 targets hit, 3rd stop). You'll recall I mentioned both of these names last Friday.
The 'take profits' this week were as follows:
MONDAY: Old Mutual, Mondi Plc, GBP/JPY, S&P 500, USDZAR
TUESDAY: Natural Gas
THURSDAY: USD/JPY
FRIDAY: Sasol (detail as mentioned above)
Well done to all who traded and took advantage of the opportunities highlighted.
A good weekend to all.
SASOL - Does the trend continue? - Sasol has pulled back from a R438 swing high and had an initial test of the blue 50 day moving average.
- Bulls will need to defend the R390 zone to keep the trend intact
:Possible scenarios i'm looking for:
1) A consolidation here before attempting to push higher continuing the trend
2) A failure at R390 for a deeper pullback towards R350
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
SOLSasol SOL 40331c - Zooming out. Upside gap at 40842c could be closed first however downside risk if 40200c is lost.
An unfilled gap at 40842c, created by Monday's open may be closed however, the incline support extending back to the 20 December 2021 lows should be monitored for a potential 'failure to hold'. The share also trades at the lower boundary of a rising wedge/channel, which if breached, could see lower levels being tested. One possibility is the lower boundary of the large channel (two parallel white lines) where the price target is approximately R360 to R370. The gap is also at average of 8 21-EMA, both of which are losing upside momentum. Also note, the price (40331c) appears extended vs it's quarterly pivot of 34015c.
The white arrow represents the potential price path.
Key risk level: R402
Sell on a break below: 40200c (Strong offers would be added confirmation of deteriorating price weakness and /or bearish reversal)
Stop-loss: 41330c
Target: 37400c
SASOLNice breakout on SASOL. It's the same kind of set up that we got in January 2022 when the 300 level broke out.
I'm calling it 480 from here!
SOL Long short term trade ideaSOL Forming a H&S pattern starting on second shoulder move
short term movement up keep tight stop loss
Short on SASOLJSE:SOL is showing all of the signs for a short position. EMAs, MACD and Stochastic have all crossed downwards. Looking for a move downwards towards the 302 level
SOL small symmetrical triangleSOL breaking out of a small symmetrical triangle pattern. Target R400.
Trade ideas are my own and not financial advice.
SASOL - Bulls in Charge- Sasol continues to stair step upwards making higher lows in the short term and holding its 20/50 moving averages
- Path of least resistance remains to the upside
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
SOL Long continuationSOL
possible reversal of bearish sentiment due to Russia oil sales Ban
to the EU. could have bullish outcome due to coming shortages worldwide.
and higher prices. change my outlook from Neutral to Long for Sasol
SOL waiting for confirmationSOL still in bearish trade range
reason for my selling of 50% of this trade
still needs to be confirmed as the false breakout has turned bearish
