I think we have seen a very interesting morning where sellers trying to drive the market down met with swift and aggresive resistance. I may be wrong but I think sasol just passes the test. Any comments.
Sasol spent R8.1bn buying Condea, then wrote off R2.8bn a while back. Now they cannot sell. Surely, while the traders jam at the surface, bigger funds are going to formalise a dim view of a company which squanders that sort of ammo?
Hi John the only thing that worries me is that the only thing holding Sol up at the moment is the oil price if the tention in iran is defused we could see the oil price on a downward trend with Sol following but thats just my guess. I'm still holding and hope that i,m wrong
Ja, good point. But for me, anything at that level is high risk. I'd rather wait for a "safer" entry point than where it is right now. The tell all will be the R251 mark. A break-and-bounce at that level will be a buy signal for me, and will trump the STO>90.