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).
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
Barry Dumas | Trading Specialist at GT247.com
Disclaimer: Any opinions, news, research, analyses, prices, or other information contained within this research is provided as general market commentary, and does not constitute investment advice. GT247.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content contained within is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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