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Sasol - Technical Take Update 27 October 2017

27 October 2017 / Technical Takes Posted by: Barry Dumas
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Sasol Trade Update:

It gives me great pleasure to put this note out on Sasol Limited (SOL) as my previous trade did not go as planned and yes we are in the money on this one. Reaching target price 1 is perfect to take profit and if you haven’t done so then here is an option to manage your risk on Sasol Limited (SOL).

The price is currently at a critical resistance point around 41384c so take care with your risk management.

Trade Update

For the trader that wants to stay in the trade I would suggest moving your stop loss to the entry price of 40200c as the price might just retrace after this run before moving higher.

Also keep a close eye on the rand and the oil price over the following couple of days as this might have an impact on the share price of Sasol Limited (SOL).

Sasol 2.png

Always remember to apply your risk management measures before placing your trades as this will keep you trading in the markets.

Read more notes by Barry HERE.

All charts sourced from Bloomberg

 
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Barry Dumas | Trading Specialist at GT247.com
 

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