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Bullish Moving Average Cross by Sasol (SSL)

By Nick Russo

Sasol (NYSE:SSL) crossed over its 10-day moving average of $25.86 on a volume of 140K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Sasol have traded between a low of $21.07 and a high of $40.92 and are now at $26.81, which is 27% above that low price. The 200-day and 50-day moving averages have moved 0.29% lower and 0.68% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Sasol on June 14th, 2016 by issuing a Downtrend alert when the shares were trading at $26.70. Since that call, shares of Sasol have fallen 4.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses sasol

Ticker(s): SSL