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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