SasolStructure for bulls looks to be completing, market is now in take profit zone be careful for reversal back to R130
SOLBE1 trade ideas
SASOL - Daily chart Cup handle breakupSasol has broken up today with a Cup and handle pattern, also today breakup has ended a 3 month downward channel.
SASOLsasol bullish flag at play a move higher if fundamentals align we might see a big move on this one
SASOL SASOL is now ready for buys, we had a break of the correction(bearish Trendline)
MACD has shifted inline with EMA's
We just missed the 32.8% fibb entry
sasolFor the fiscal year ended 30 June 2021, SasolLimited revenues increased 6% to RAN201.91B. Net incometotaled RAN9.03B vs. loss of RAN91.75B. Revenues reflectChemical Africa segment increase of 13% to RAN58.26B,Chemicals Eurasia segment increase of 15% to RAN45.54B,Europe segment increase of 10% to RAN48.53B, United Statessegment increase of 10% to RAN31.25B. Net Income reflectsImpairment of PPE decrease of 69% to RAN33.97B (expense).
SASOL YOU BEAUT!!! Sasol target reached and kept going. Update from the analysis on the 23rd. Daily movement of over 6%
Top of ChannelGreat bounce of the 200dma here for Sasol and right back to the top of this channel.
As this was still a downward channel it would be great if we can get a break up.
What are your thoughts on Sasol?
SASOl false breakout (Fake-out)If price closes above 20727 area, we can assume that it was a false breakout at the support (EMA) and we can expect a rise towards 22000 area.
SASOLSasol Currently in consolidation between a monthly resistance and Double bottom (Bullish) pattern, a drop into the Buy Zone will see a move higher
SOL - Sasol Limited - Let's wait for the Glug Glug Vroom!I'm looking for a retracement after reaching some resistance, gain more fuel and continue up.
Sasol - uptrend Sasol is starting to look attractive.
There is potential for a 50% upside return within the next 12 months.
All risks aside - Sasol is looking strong and in an uptrend.
Price target is R320 by next year June/July
Sasol must stay above R160 and within the yellow uptrend to confirm this uptrend continuation.
Pullbacks can be used as entry points to accumulate.
Disclaimer:
This shouldn't be misconstrued as investment advice, always seek with a professional financial adviser before making any investment decisions.
Trade Idea Update: Sasol - Stop-Loss TestedTrade Idea Update: Sasol - Stop-Loss Tested in early trade.
Original idea attached.
Short Term Trade Setup: Sasol Earnings on 16/08 so traders will need to be out before then.
Buy/Long Technical Drivers:
- Pennant formation, price emerging from this pattern.
- Re-taking the 8 x 21 EMA
- 7-day RSI at 56 and pointing higher
- Holding the pivot
Target is the upper boundary of the 21-day (monthly) and 63-day (quarterly) LRC.
Current: 22184c
Buy here (22184c), or better
Stop: 21610c
Target: 22900c
As noted previously, my main medium term preferred accumulation level is sub-R195...not sure if we get there. Let's see.
Sasol Intrday Long (15-min chart)Current: R217.67
Stop R216.20
Target: R219.60
Chart: 15-min
Know your time frame
SOL: repetitive price action?The price action remains in a declining channel pattern.
However, the price action seems to be in a repetitive price action swinging between the low and the high of this declining channel pattern.
RSI leaves enough room for further upside price potential.
Wait for upside price momentum to support the price action.
RSI leaves enough room for such a bullish bias.
Setup remains risky.
SASOL
>SASOL and the oil industry have recovered from the 2020 March oil crash
>Buyers of the March had massive gains and now by the looks have taken profits
>Selling off has begun with targets +R140
>130 to 157 Zar looks like a good zone where new buyers will come in
SASOL >SASOL and the oil industry have recovered from 2020 March oil crash
>Buyers of the March had massive gains and now by the looks have taken profits
>Selling off has begun with targets +R140
>140 to 157 Zar looks like a good zone where new buyers will come in
JSE:SOL Sasol Markdown Set to Gain MomentumAfter following the markup in 2020 - see posts below - we have seen a distribution trading range in our previous post. Now this markdown is set to gain momentum with high volume selling taking place. Today's reversal bar confirms the basis.
SOL H&SSOL formed a H&S pattern which already triggered. I am not prepared to short SOL but if this pattern plays out it can target R190. I will rather monitor for a pattern around that level to go long.
Trade ideas are my own and not financial advice.
JSE:SOL Sasol Time to Let it GoWe have been following Sasol sins the climax lows in 2020 indicating a target of R200 - see the progression of posts below. We have reached the target and now we are seeing active signs of distribution. After a climax in March, there was a strong secondary test but the next upthrust (UT) on volume made no progress (Effort without Response) indicating selling by the big players. A change in character was seen in June with an increased downward spread on volume making signs of weakness (SOW). The latest attempt to rally could not break the 50SMA and after a key reversal bar, it is time for Sasol to drop potentially retracing all the gains of the last year.
Sasol Ltd breaking out of the channel.The stock looks set to break out of the channel and head for previous highs. The high inflation seems to bear no effect of the South African stocks. Expect the stock to reach profit levels 24087.
