Sasol just bouncing off

SOL has been in a channel since March 2023 with the upper bound at R265.71 and the lower bound at R220.90. It has currently tested the lower bound. Does it still have legs for testing the upper bound? Traders should be cautious because it is still trading below the 200-day SMA.

Direction: Buy
Target: R257.80
Stop loss: R216.09
Risk/Reward: 2

Traders/Investors should always make their own analysis, the idea posted is just a guideline. Risk management is always your number one priority.