Sasol Limited (SSL) Stock Rises 12.26% Wednesday; Continues to Hit Resistance at $9/Share

Wednesday, July 29, 2020 3:37 PM | Neal Farmer

Sasol Limited (SSL) is up 12.26% today with no recent news coming out recently about the company. Market sentiment seems to be the sole motivator for the stocks movement today as traders are speculating on the stocks pricing in the short term. The stock opened the day over 12% higher than Tuesday’s closing price with the stock hovering around $8.90 for the rest of Wednesday’s trading hours. Currently the stock seems to be at its resistance point where it has previously struggled to surpass $9/share and not been able to hold that value for any lengthy period of time. SSL briefly traded slighlty above $9 on July 21 but quickly fell below the following day. The stock also traded above $9 for a brief three days back in early June. Speculators may have a nice opportunity here for bearish plays on the stock as SSL continues to struggle to hold its price over $9/share.

SSL stock has fallen -59.87% over the last 12 months, and the average rating from Wall Street analysts is a Buy. InvestorsObserver’s proprietary scoring system, gives SSL stock a score of 28 out of a possible 100.

That score is influenced by a short-term technical score of 16. SSL’s score also includes a fundamental score of 28. In addition to the average rating from Wall Street analysts, SSL stock has a mean target price of 8.9. This means analysts expect the stock to decline 0.34% over the next 12 months. The long-term technical score for SSL is 40.

What’s Happening with SSL Stock Today

Sasol Limited (SSL) stock is higher by 12.26% while the S&P 500 has risen 1.18% as of 3:16 PM on Wednesday, Jul 29. SSL has risen $0.98 from the previous closing price of $7.96 on volume of 3,212,710 shares. Over the past year the S&P 500 has gained 8.07% while SSL has fallen -59.87%. SSL lost -$0.63 per share in the over the last 12 months.

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