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SOL and IMP

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TheoPrinsloo
Contributor
Does anyone have any advice on SOL or IMP. What will cause a turn and is it in the cards?
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11 REPLIES 11
Super Contributor
Sol - oil and R/$, oil over $101 a barrel.
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TheoPrinsloo
Contributor
The rand is a bit stronger today and oil is above $100. Am i correct if i say that these 2 factors are working against each other in terms of SOL?
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Not applicable
Both are trading at alltime highs - I would not be chasing em now. Doesn't mean they won't go higher (scuse the Chartspeak) but risk of a pullback increases the higher she goes.
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TheoPrinsloo
Contributor
time to go short?
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Highlighted
Regular Contributor
On SOL maybe but on IMP you are almost too late... But IMP might pull back to the R280 level and then push up again...
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TheoPrinsloo
Contributor
bought IMPSBY last week - will be great if it pulls back to R280. Think SOL is on the verge of a pullback but not sure when and how big the pullback will be.
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Regular Contributor
Not sure at what price you bought IMSBY but I would look for a short-term 50% profit on IMPSBY - also maybe only sell 50% of your holdings and keep a tight-top-loss... I think SOL will head down again - RSI and MACD are showing overbought positions...
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Regular Contributor
If you do trade warrants SOLDBP looks like a good play at 9c with upside target of 12c within the next week...
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TheoPrinsloo
Contributor
bought SOLSBY at 14c. Always scared to trade in non SB warrants. Don't see a lot of activity on them. U think this is a valid fear? Anyway, thank for the reply - will have a look at SOLDBP and will definitaly set a trailing stop loss on IMPSBY as soon as i am over 20% profit.
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Not applicable
Theo, wouldna short neither. Don't see a good trade entry either way at this level. Would rather she settled on a level again. Might take awhile.
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Not applicable
SOL should be declaring her interim dividend in a week or so...
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