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Gold/Mining/Energy : Sandstorm Gold -- Ignore unavailable to you. Want to Upgrade?

To: kidl who wrote (721)	10/27/2012 6:40:14 PM
From: The1Stockman	Read Replies (2) \| Respond to of 1133

<"How does SSL fit in?"> Hello Kidl I think your referring to, ... Sasol Ltd - symbol - (SSL) ? They have good fundamentals, ... making money with positive earnings but technically its not looking good. First off, ... are you looking to buy or already own, reason I ask is because many of the energy stocks have done very well over the past couple of quarters and this ones moving lower but its made a bottom at the $40.15, a close back on July-24th. Its a very volatile choppy trading stock that has a tendency of gaping up and down on relatively small daily spikes. Right now, it looks like its on its way down to fill an up-gap at $40.65 and its gaped down 3 times in the process, I do believe those upper-gaps will fill in time. MACD is the main problem right now, ... its telling us that its not done moving lower yet, the divergence lines are well below center and looking down. The other 3-lower indicators are all below center -50- but looking up, MFI is adding liquidity but its working against a more powerful MACD down-trend indicator. Its failed to hold-up above the 200-day EMA and now its below both the 20 and 50-day EMAs and its been in a gap-filling process in the past week or so. Its head down for a Double-Bottom in and around that lower gap. BELOW: Weekly. If I owned this I'd at least give it a chance down at the purple line and watch for a violation, .. I think it will find strong support ($40/41) at that lower weekly trend-line. You have a nice pivot point above at around $47.00 that should fill in time. BELOW: Monthly. Not enough history here for a monthly view but as you can see, ... it failed the 20-day EMA and is now forming a Bearish Engulfing, a sign that offers lower levels in days and weeks ahead. The lower indicators are too smooth (not enough history) for a proper analysis, .. all but the MFI are under center and moving sideways. About all I can say is, ... its near a double bottom and if the fundamentals continue to improve, it has a great opportunity of moving back up quickly, but in this type of market, ...things change quicker than our natural human thought process does. Off to work, have a Safe and Happy new week. James