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Online Share Trading

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There we go SOL

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kwagga
Super Contributor
Starting to look like the upside break we anticipated for quite a while is in progress. Let's hope the momentum can keep this above the R374.50 mark.
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16 REPLIES 16
kwagga
Super Contributor
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Not applicable
wow thats a lot of indicators on that chart, do use all of them to decide a trade? Like the RSI & SMA & Bollinger & Trend lines & MACD have to point in the same direction?
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The_Trader
Frequent Contributor
Bought at R363.00. Looking for R380.00. Thanx Garth. You should have stuck to a looser stop loss.
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kwagga
Super Contributor
I suspect that Garth is not making money on this share is because he's a few days ahead of the share curve. SOL is like a oil tanker. It takes a few days to turn.
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kwagga
Super Contributor
No, not all of them on a single trade, but combinations - Like MACD, RSI and trendlines, or Bollinger and EMA when I anticipate a squeeze on the share price. We have our break to the upside. Now we hope momentum keeps us above 37200. http://chartupload.com/viewer.php?file=00104608044546370411.jpg
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saash
Super Contributor
i would look at selling/profit taking at 388, 398 406 and 411 .... 380 seems a bit shy unless you looking at a short-term ride.
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The_Trader
Frequent Contributor
Jip thats right kwagga. I think thats why I enjoy trading Sol, because it turns like an oil tanker and pumps dividends like an oil well.
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The_Trader
Frequent Contributor
You have a point there saash. When R380 is breached, I will set my stop loss there and leave it to run to R388,390 or even R400
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Not applicable
How on earth do you plan to make money trading a 4% move on a single stock?
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Russ
Super Contributor
On 9 Nov sol broke down below its support line and also broke down from a symmetrical triangle (and H and S). I thought it was heading down to support at about 33600.It started rallying on 14 Nov at about 36600 from a very oversold position on the daily chart.Now it looks like a screaming buy(because it is back above support and above the symmetrical triangle) but is getting overbought.Some people here have said that oversold and overbought are irrelevant.I disagree but still find it difficult to decide what to do when the chart patterns show one thing but the overbought/oversold suggests the opposite.Any views?
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kwagga
Super Contributor
SOL overbought ? It's not even remotely in overbought territory. See the charts that I posted in this thread.
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Russ
Super Contributor
That was the chart for 16 Nov. Now the daily sto and rsi are at the same levels they were on 17 Sept and 16 Oct when the share price had pullbacks.I'm not commenting on how long it will stay overbought,just that it is quite overbought.
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kwagga
Super Contributor
It's not overbought.
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saash
Super Contributor
sto and Rsi are showing an upward trend, not an overbought. Plus, Sto is a short term indicator.
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Rams
Super Contributor
SOL was a buy at 378-380 with stop loss at about 372...
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Wino
Super Contributor
Turns like a tanker!! 6-26 Sep 355 to 398 to 355 in that period. I remember clearly. Got in earlier at 339 then a couple days before reversing from 390 area I moved my stop loss up to 359. Took me out just before LDT. Was I mad! Thing is, oil drops 2-3$ tomorrow, SOL drops 10 bucks and vice versa. All I am saying, be careful of complacency.
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