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Technical Trade note on Sasol Limited (JSE:SOL) - 20 September 2018

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Barry Dumas
Technical-Trade-Note

Our Sasol Limited (SOL) trade did not trigger and sold off within the bull flag back to the trend support line (Red dotted).

I have revised my entry lower and adjusted my stop loss to below the trend support. There might be an opportunity for dip buyers to enter the market at this price.

Supporting factors might be that the oil price has increased over the last couple of days but all eyes will be on the Rand (ZAR) today so keep your eye in this one.

Trade: Sasol Limited (SOL)

  • Entry (Buy): 55965c
  • Stop loss: 53957c
  • Target price1: 58148c

Screen Shot 2018-09-20 at 09.05.20

Chart Source: Bloomberg

ALSO READ: Sasol Spot EPS - fundamental analysis by M N Ingham

 

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