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Sasol shares jump nearly 30%

As oil price recovery sparks buying.
Image: Waldo Swiegers, Bloomberg

Shares in South African petrochemicals group Sasol surged nearly 30% on Friday as a recovery in oil prices sparked buying of the stock, which was pummelled in the previous session.

Brent crude prices rose over 3% on Friday after falling more than 7% the day before, a drop which helped send Sasol shares to a 21-year low.

“It does look like it was over down around 30 rand. Perhaps some opportunistic buyers are looking to get in at these low prices,” said Nilan Morar, trader at GT247.

Sasol shares hit a high of R55.84 earlier in the session on Friday and were at R39.80 (up 6.87% from Thursday’s close) by 10:25.

Sasol shares over the month

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Looks a lot like a dead cat bounce.
Losses from 200 to 100 is the same as losses from 50 to 25.

Shame. Sounds like someone who missed buying yesterday at R28.

I am buying shares. A lot of money to be made here.

Anything in the top 40 should suspend daily trading if it falls over 6% in one day!

who’s made some money so far ?? And what is yr bailout price…..?

Koko, Watashi.

Ni doru –

Nani? ‘Bail out?’

Bakaru Desu yo!

(Maybe just halve
the position)

Tabun…

Tondemonai!!!

End of comments.

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