Green day on Friday for ZIM Shipping stock after gaining 2.0804438280166%
(Updated on Dec 08, 2023)
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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 -39.40% during the next 3 months and, with a 90% probability hold a price between $3.61 and $4.69 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.
ZIM Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, November 28, 2023, and so far it has risen 11.68%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ZIM Shipping stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $7.40 and $7.56. A break-up above any of these levels will issue buy signals.
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Support, Risk & Stop-loss for ZIM Shipping stock
ZIM Shipping finds support from accumulated volume at $7.27 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 $0.300 between high and low, or 4.17%. For the last week, the stock has had daily average volatility of 5.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZIM) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect ZIM Integrated Shipping Services Ltd. to open at $7.35, and during the day (based on 14 day Average True Range), to move between $6.90 and $7.82, which gives a possible trading interval of +/-$0.463 (+/-6.29%) 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 12.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.27 (1.22%) than the resistance at $7.50 (1.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ZIM Integrated Shipping Services Ltd. stock A Buy?
ZIM Shipping 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.
Current score: -1.588 Open Broker AccountSell Candidate Unchanged
Predicted Opening Price for ZIM Integrated Shipping Services Ltd. of Monday, December 11, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 11, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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