The stock of Sasol Limited (NYSE:SSL) is now priced at $8.51 and the shares are 0.49 points up or 6.11% higher compared to its previous closing price of $8.02. The stock had 1.503 million contracts set over the past session. SSL shares’ daily volume is compared to its average trading volume at 3.334 million shares. However, it has a float of 535 million and although its performance was -1.73% over the week, it’s one to watch. Analysts have given the SSL stock a yearly average price target of $8.9 per share. It means the stock’s upside potential is 4.58% with the SSL share price recently placing at $8.32 to $8.54. However, some brokerage firms have priced the stock below the average, including one that has called $5.73.
The shorts are running away from the Sasol Limited stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the SSL shares have declined. Short interest in the stock represents just 0.06% of its float, but the volume has dropped by 0.
In the last trading session, Sasol Limited (NYSE:SSL) dropped by -$0.15 over the week and lost -$0.02 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $22.73. The stock recorded its established 52-week high on 12/18/19.
Since 03/23/20, the stock has traded to a low of $1.25 at 580.8%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 3.56. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Sasol Limited’s two-week RSI is 51.8. This suggests that the stock is neutral at the moment and that SSL shares’ price movement remains stable. The stochastic readings are equally revealing at 61.58% meaning the SSL share price is currently in neutral territory.
The technical chart shows that the SSL stock will likely settle at between $8.59 and $8.68 per share. However, if the stock dips below $8.37, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $8.24.
Analysts at HSBC Securities raised their recommendation for SSL from Hold to Buy in February 12 review. BofA/Merrill analysts upgraded their recommendation of the stock from Neutral to Buy in a flash note released to investors on December 18. Goldman seeing the improvements upgraded the stock from Neutral to Buy on November 29.
The average rating for the SSL equity is 3 and is currently gathering a bullish momentum. Of 1 analysts tracking Sasol Limited polled by Reuters, 1 rated SSL as a hold. The remaining 0 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.