ZIM Shipping Stock Forecast
Evaluation of ZIM Shipping stock downgraded after the last trading session.
(Updated on Jul 02, 2024)
The ZIM Shipping stock price fell by -1.70% on the last day (Tuesday, 2nd Jul 2024) from $22.97 to $22.58. During the last trading day the stock fluctuated 6.88% from a day low at $22.25 to a day high of $23.78. The price has risen in 8 of the last 10 days and is up by 19.85% over the past 2 weeks. Volume has increased on the last day by 339 thousand 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, 4 million shares were bought and sold for approximately $84.48 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 96.44% during the next 3 months and, with a 90% probability hold a price between $40.72 and $54.52 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ZIM Signals & Forecast
The ZIM Shipping stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $21.71 and $20.22. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -5.13%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for ZIM Shipping stock
On the downside, the stock finds support just below today's level from accumulated volume at $19.34 and $17.65. There is a 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 Shipping finds support just below today's level at $19.34. If this is broken, then the next support from accumulated volume will be at $17.65 and $17.59.
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 $1.53 between high and low, or 6.88%. For the last week, the stock has had daily average volatility of 5.05%.
Our recommended stop-loss: $21.60 (-4.32%) (This stock has high daily movements and this gives high risk. The RSI14 is 84 and this increases the risk substantially. There is a sell signal from a pivot top found 51 days ago.)
Trading Expectations (ZIM) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect ZIM Integrated Shipping Services Ltd. to open at $22.87, and during the day (based on 14 day Average True Range), to move between $21.31 and $23.85, which gives a possible trading interval of +/-$1.27 (+/-5.64%) up or down from last closing price. If ZIM Integrated Shipping Services Ltd. takes out the full calculated possible swing range there will be an estimated 11.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.97 (1.73%) than the support at $19.34 (14.35%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is ZIM Integrated Shipping Services Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ZIM Shipping stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.274 Buy Candidate Downgraded
Predicted Opening Price for ZIM Integrated Shipping Services Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $22.87 ( 1.28%) | $22.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZIM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.40 | 8.06% |
| R2 | 23.82 | 5.47% |
| R1 | 23.45 | 3.87% |
| Price | 22.58 | |
| S1 | 22.29 | -1.30% |
| S2 | 21.92 | -2.90% |
| S3 | 21.34 | -5.49% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 23.80 | 5.40% |
| R1 | 22.97 | 1.73% |
| Price | 22.58 | |
| S1 | 19.34 | -14.35% |
| S2 | 17.65 | -21.83% |
| S3 | 17.59 | -22.10% |
ZIM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2024 | Jun 04, 2024 | Jun 11, 2024 | $0.230 | 1.30% |
| 2 | Mar 13, 2023 | Apr 04, 2023 | Apr 03, 2023 | $6.40 | 27.27% |
| 3 | Nov 16, 2022 | Nov 28, 2022 | Dec 07, 2022 | $2.95 | 16.68% |
| 4 | Aug 18, 2022 | Aug 26, 2022 | Sep 08, 2022 | $4.75 | 15.10% |
| 5 | May 18, 2022 | May 27, 2022 | Jun 08, 2022 | $2.85 | 4.88% |
FAQ
Click here for our free guide on how to buy ZIM Shipping Stock.
