$SSL surges toward 52 week high as breakout above 916 comes into view
$Sasol(SSL)$
Sasol Limited (SSL) Soars +9.99%: Chemical Giant Tests 52-Week High at $9.16
Latest Close Data:
Closed at $8.92 on 2026-03-01, surging +9.99% from the previous close. The stock hit its 52-week high of $9.16 during the session.
Core Market Drivers:
-
The strong rally is likely driven by a combination of firming energy prices supporting the chemical sector and a potential relief rally in the South African market.
-
The company's recent financials show improved operational metrics, with a notable increase in the forward P/E ratio.
Technical Analysis:
-
Volume ratio of 1.13 confirms active participation in the move.
-
The 6-day RSI at 65.09 and 12-day RSI at 64.29 are in bullish territory but not yet overbought, suggesting room for further upside.
-
MACD (0.12) remains positive, indicating sustained bullish momentum.
Key Price Levels:
-
Primary Support: $8.84 (Today's Low)
-
Strong Resistance: $9.16 (52-Week High)
-
Immediate Pivot: $8.92 (Today's Close). A sustained break above $9.16 could open the path to $9.50.
Valuation Perspective:
TTM P/E is elevated at 39.71, primarily due to low recent earnings. The forward P/E of 5.47 is above its historical average of 3.28, indicating the market is pricing in significant future earnings growth.
Analyst Targets:
Only 1 analyst currently covers the stock with a "Hold" rating and an average price target of $7.40, which is well below the current price.
Weekly Outlook:
Expect consolidation near the $9.00-$9.16 resistance zone in the coming week. A decisive breakout above $9.16 could target $9.50-$9.75. A failure to hold $8.84 support may lead to a pullback towards $8.50.
For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.
🎉Cash Boost Account Now Supports 35,000+ Stocks & ETFs – Greater Flexibility Now
Find out more here.
Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.
Other helpful links:
-
💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉
-
How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
