ZIM Shipping Stock Forecast
ZIM Shipping stock price down 0.697% on Thursday
(Updated on Apr 25, 2024)
The ZIM Shipping stock price fell by -0.697% on the last day (Thursday, 25th Apr 2024) from $11.47 to $11.39. During the last trading day the stock fluctuated 3.89% from a day low at $11.05 to a day high of $11.48. The price has been going up and down for this period, and there has been a 6.55% gain for the last 2 weeks. 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 -143 shares and in total, 2 million shares were bought and sold for approximately $26.29 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $11.67 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -23.05% during the next 3 months and, with a 90% probability hold a price between $5.99 and $8.98 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.
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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 $10.81 and $10.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 23.14%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for ZIM Shipping stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.07 and $9.78. 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 $10.07. If this is broken, then the next support from accumulated volume will be at $9.78 and $9.29.
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 $0.430 between high and low, or 3.89%. For the last week, the stock has had daily average volatility of 5.52%.
Our recommended stop-loss: $10.94 (-3.94%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (ZIM) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect ZIM Integrated Shipping Services Ltd. to open at $11.31, and during the day (based on 14 day Average True Range), to move between $10.85 and $11.93, which gives a possible trading interval of +/-$0.542 (+/-4.76%) 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 9.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.21 (7.20%) than the support at $10.07 (11.59%), 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 are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.447 Buy Candidate Unchanged
Predicted Opening Price for ZIM Integrated Shipping Services Ltd. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $11.31 ( 0.732%) | $11.39 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 11.74 | 3.04 % | |
| R2 | 11.57 | 1.60 % | ||
| R1 | 11.47 | 0.711 % | ||
| Current price: | 11.39 | |||
| Support | S1 | 11.14 | -2.17 % | |
| S2 | 11.04 | -3.06 % | ||
| S3 | 10.88 | -4.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.44 | 18.00 % | |
| R2 | 13.26 | 16.42 % | ||
| R1 | 12.21 | 7.20 % | ||
| Current price | 11.39 | |||
| Support | S1 | 10.07 | -11.59% | |
| S2 | 9.78 | -14.14% | ||
| S3 | 9.29 | -18.44% |
ZIM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2023 | Apr 04, 2023 | Apr 03, 2023 | $6.40 | 27.27% |
| 2 | Nov 16, 2022 | Nov 28, 2022 | Dec 07, 2022 | $2.95 | 16.68% |
| 3 | Aug 18, 2022 | Aug 26, 2022 | Sep 08, 2022 | $4.75 | 15.10% |
| 4 | May 18, 2022 | May 27, 2022 | Jun 08, 2022 | $2.85 | 4.88% |
| 5 | Mar 09, 2022 | Mar 22, 2022 | Apr 04, 2022 | $17.00 | 25.31% |
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