Where's Sasol heading?

[#1]

Any pridictions on Sasol for the next two weeks or so? Are we likely to see it testing the 250 - 260 mark or even lower perhaps?

[ABuzz]

Down, up, down, up, up down down up down up down up up down. And No

[HiSo]

That'd make a nice guitar strumming pattern.

[Theater_Cat]

What do the charts say?

[richardw]

Nobody here can tell you :) If they knew, they'd have an aide counting their money while they sipped *****tails. Be especially wary of those that say they can. See above.

[SkarlakenKoos]

I'll give it a go: Sasol has been trading in a medium-term bull trend that started the 21st of November 2008 and has steadily increased. The trend has been confirmed multiple times with 3 tops and 3 (nearly 4) lows. At the moment, Sasol is testing resistance of this very bull trend (no downwards breakout yet). However, the RSI shows a symmetrical triangle forming with a downwards breakout (bearish). Furthermore, the lower highs on the RSI is indicative of possible trend reversal (i.e. bearish). If Sasol does break out, I am not sure to where it may fall, possibly R267 or even lower. This is what I see in the graphs. Will I put money where my mouth is? No... I will buy more Sasol when it reaches its November lows. (Disclaimer: Just another humble opinion from yet another chart idiot.)

[unknown]

sasol will test rsistance of 260 then going up

[#8]

Bad corporate governance equals bad press equals negative sens equals 250 - 260 here we come!!!

[SkarlakenKoos]

Ok, the RSI turned out to be correct this time. What are the next levels? From the charts, if support does not hold at these levels (R269), I see R259 and R225 as the next key levels. I doubt R225, but I've learned that doubt (together with fear and greed) is more often wrong then right. What do to the other forumites think? Is R225 possible? ...and if R225 does not hold, where to then?

[#10]

With the bad press, I wouldn't be surprized to see R219...

[SIMBA]

If the Arabs dont get early joy from Obama,re Israel then they will use the only weapon the have and Sasol will fly........