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Writer's pictureLester Davids

Sasol Ltd

Friday, 27 September 2024

Time Published: Pre-Market


  • Yesterday we saw the share decline by 7.3%, with a large red candle (bearish open to close).

  • Sasol needs to hold R109.50 to remain avoid testing it's year-to-date lows.

  • While we could see an oversold rebound, the bearish momentum is strong, therefore waiting for an improvement in candle structure is a prudent approach.

 

Previous Post: Monday, 23 September 2024

PREMIUM POST

Pre-Market


  • Poor, absolute and relative price trend

  • Poor, absolute and relative candle structure

  • Trading below it's declining 200-day EMA

  • Each rally is being sold

  • Avoid until price action improves!



Lester Davids

Analyst: Unum Capital




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