Sasol Limited (SSL) Draws Bullish Attention After Forming Bullish Multiple Top Chart Pattern

Sasol Limited (NYSE:SSL) Logo

The stock of Sasol Limited (SSL) shows a multiple tops pattern with $30.66 target or 4.00 % above today’s $29.48 share price. The 7 months chart pattern indicates low risk for the $18.04 billion company. It was reported on Dec, 2 by Finviz.com. If the $30.66 price target is reached, the company will be worth $721.64 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 3.60% or $1.1 during the last trading session, reaching $29.48. About 259,481 shares traded or 22.29% up from the average. Sasol Limited (NYSE:SSL) has risen 24.78% since December 2, 2017 and is uptrending. It has outperformed by 9.16% the S&P500.

More notable recent Sasol Limited (NYSE:SSL) news were published by: Fool.com which released: “Alaska Air Group Plots Its Path to Higher Profits – The Motley Fool” on November 29, 2018, also Seekingalpha.com with their article: “Amazon pushes hard in online ads – Seeking Alpha” published on November 27, 2018, Gurufocus.com published: “Maxar Technologies to Present at Upcoming Investor Conferences – GuruFocus.com” on November 22, 2018. More interesting news about Sasol Limited (NYSE:SSL) were released by: Seekingalpha.com and their article: “Sasol Limited 2018 Q4 – Results – Earnings Call Slides – Seeking Alpha” published on August 20, 2018 as well as Seekingalpha.com‘s news article titled: “Sasol Limited (SSL) CEOs Stephen Cornell and Bongani Nqwababa Q4 2018 Results – Earnings Call Transcript – Seeking Alpha” with publication date: August 20, 2018.

Sasol Limited operates as an integrated chemicals and energy company. The company has market cap of $18.04 billion. It operates through Mining, Exploration and Production International, Energy, Base Chemicals, and Performance Chemicals divisions. It has a 28.16 P/E ratio. The firm operates coal mines; develops and manages upstream interests in gas and oil exploration and production in Mozambique, South Africa, Australia, Canada, and Gabon; and markets commodity and various performance chemicals, such as organics, inorganics and wax value chains, as well as polymers, solvents, and ammonia fertilizers.

Sasol Limited (NYSE:SSL) Ratings Chart

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