Global demand? higher oil prices usally equal lower output/restrained output from OPEC to keep prices higher. Sasol not only into fuel but as a by product of coal for other stuff. Lower demand on fuel and other oil based products=lower prices on a non OPEC product? Just some of the silly thoughts I would look at. Maybe the market is not seeing a sustained profitable growth on company and div expected to be flat (maybe even skipped as with many bluechips these days)....so take a stab and see what you hit. OMO
will SOL test 220, absolutely. Just dont ask when cause I tried to sneak a peak at Simons crystal ball and was just inches away from loosing my life... ;-) Just take the knock and live another day if you in geared instruments. If you doing normal SOL shares, buy more at lower levels. Great company and will reward you over the years. I bought when they were at R80 way back when and even at these low levels I am not in the least bit phased.
Short term trend is down. I think it has more downside potential in short term. If you want to, see if it breaches the next suport level at 265, otherwise I would agree with CPS. If you are geared, take the knock, if you have shares, look to accumulate at lower levels.
a close below 27089 will send it to 26600, if 26600 is broken then 25850, but todays close was a good one, and if it closes above 27800, then 28700 is on the way.. so trade is short at close below 27000, and buy at close above 27800
Touching 220 i think is being overly pessimistic. The short term trend is down but will find strong support at 255. Anywhere between 255 and 270 will be good entry point over the medium term will make some good profit.