Volatile ride for ZIM Integrated Shipping Services Ltd. stock price on Wednesday moving between $58.15 and $64.28

The ZIM Integrated Shipping Services Ltd. stock price fell by -14.68% on the last day (Wednesday, 8th Jun 2022) from $68.52 to $58.46. During the day the stock fluctuated 10.54% from a day low at $58.15 to a day high of $64.28. The price has been going up and down for this period, and there has been a -16.29% loss for the last 2 weeks. Volume has increased on the last day by 11 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 15 million shares were bought and sold for approximately $892.62 million.

The last rating was given by Jefferies on May 18, 2022. The price target was changed from 61.30 to 5.75.Over the last 90 days, this security got 0 buy, 1 sell, and 0 hold ratings.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -17.83% during the next 3 months and, with a 90% probability hold a price between $36.30 and $56.03 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

There are few to no technical positive signals at the moment. The ZIM Integrated Shipping Services Ltd. stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $65.18 and $62.48. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 25, 2022, and so far it has fallen -16.84%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

ZIM Integrated Shipping Services Ltd. finds support from accumulated volume at $56.83 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $6.13 between high and low, or 10.54%. For the last week, the stock has had a daily average volatility of 6.02%.

ZIM Integrated Shipping Services Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Sell candidate.