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ZIM Integrated Shipping Services Ltd. stock price ended on $68.40 on Friday after losing 4.81%

StockInvest.us, 2 months ago

StockInvest.us

The ZIM Integrated Shipping Services Ltd. stock price fell by -4.81% on the last day (Friday, 25th Mar 2022) from $71.86 to $68.40. and has now fallen 5 days in a row. During the day the stock fluctuated 4.72% from a day low at $67.80 to a day high of $71.00. The price has fallen in 6 of the last 10 days and is down by -13.21% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 6 million shares were bought and sold for approximately $417.42 million.

On Mar 10, 2022 "Jefferies Financial Group" gave "$100.00 - $120.00" rating for ZIM. The price target was set to $76.77+2.2%.

Given the current short-term trend, the stock is expected to rise 38.94% during the next 3 months and, with a 90% probability hold a price between $95.03 and $127.15 at the end of this 3-month period.

ZIM Integrated Shipping Services Ltd.

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $79.01 and $73.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 16, 2022, and so far it has fallen -22.82%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

On the downside, the stock finds support just below today's level from accumulated volume at $63.20 and $61.44.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ZIM Integrated Shipping Services Ltd. finds support just below today's level at $63.20. If this is broken, then the next support from accumulated volume will be at $61.44 and $57.48.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $3.20 between high and low, or 4.72%. For the last week, the stock has had a daily average volatility of 5.31%.

The ZIM Integrated Shipping Services Ltd. stock holds several negative signals and despite the positive trend, we believe ZIM Integrated Shipping Services Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Check full ZIM Integrated Shipping Services Ltd. forecast and analysis here.