daily chart of sasol as of today:
IN have a look at my super dooper johnny lollie last outpost main indicator lilac serrated line...
today at R331.78....
price now R329.81 with low of 327.19..
i reckon we close above that today....if not can still go down BUT if you wanna but this line is the sweet spot for olng term investing!! Unless Sasol gets thrown out fo TOP 40 ala PS!!
other points on chart :
1. broke out of support line at +-385 the other day.....next day went to retest and was a goodbye kiss...boom..
2. stoch has very little to go to 20...but can remain there until you insolvent..
3. tsi pointing downwards..
4. dmi showing a bearish trend started and continuing..
conclusion : If u a trader still worth holding your short with stop juts above serrated lilac line..
If u an investor wait till tomorrow and see if R331.00 holds...IF not wait on sidelines as can go lower... If holds then wait for a bounce to say R335.00 to go in medium to long term!!
Forget about envious Johnny..
He is here to confuse all and sundry having not showed one winning trade since hes been here last 10 years...
reclaimed licac line at close yesterday...today bounced higher and now dropped way below.....seems that lilac line is history now....lets see by close today!!
if closes below this one is in big big trouble!!
Edited by Polly, 11 July 2019 - 02:18 PM.