Sasol ADR - Monitoring For A Long Term Downside Break

Sasol ADR (NY): Taking a step back, I’m once again having a look at Sasol’s US listing. At current levels, the share trades just above a 3-year incline support that appears to be a part of bigger bear flag formation that had been in development since the share made a ‘final’ peak in September 2014. It should also be noted that the 200-month moving average, which acted as support from April 1999 to July 2015 is now serving as resistance. Holders of Sasol within a long term equity portfolio should monitor the share for break of support as this may signal a shift in trend from sideways to bearish.

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