Sasol Ltd (SSL): Price Now Near $16.45; Daily Chart Shows An Uptrend on 20 Day Basis

The Hourly View for SSL

Currently, SSL (Get Ratings)’s price is down $-0.02 (-0.12%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as SSL has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Of note is that the 50 hour changed directions on SSL; it is now pointing down. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

SSL’s Technical Outlook on the Daily Chart

At the time of this writing, SSL’s price is down $-0.44 (-2.61%) from the day prior. This move is a reversal from the day prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The chart below shows SSL’s price action over the past 90 days.

SSL

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