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- 1 ZIM stock price moved up by 1.80% and closed at $24.38 on the most recent trading day.
- 2 The bullish price surge of ZIM stock outpaced the S&P 500’s 0.30% gain on the day.
ZIM Integrated Shipping Services (NYSE: ZIM) stock price noted +0.43 price change on March 23, Thursday and closed with a bullish outlook. The stock opened at $24.44 while giving the high at $25.12 and low at $23.80. Its 52-week low was marked at $16.23 and 52-week high was at $75.34. ZIM stock rose 0.54% in recent week, while showing 10.22% rise in 1 month. Year-to-Date (YTD) price action of ZIM stock also bullish with more than 40% of price surge, according to data from Tradingview.
ZIM Stock Price Analysis
ZIM stock’s closing price surpassed the 100-day EMA, which was at $23.47. Meanwhile, on March 21, ZIM stock touched the 100-day EMA and moved upward surpassing that EMA mark. In mid-March, the stock crossed its 20-day and 50-day EMAs while giving a bullish outlook. The MACD forms a positive crossover that shows a bullish outlook of the stock. The RSI of ZIM stock is nearing 60 that shows the neutral level.
Moreover, the price target by some analysts is set at $20.86 which starts to decline by almost 14% from its closing price. Meanwhile, the 1-year price forecasts for ZIM stock have a maximum estimate of $27.00 and a minimum estimate of $15.00.
The bullish outlook of ZIM stock is nearing its resistance level, and if the price continues its bullish movement this weekend, then ZIM stock could surpass the resistance level and form a new support level. As ZIM stock price already crossed its 100-days EMA, the bullish movement will lead its price towards the 200-days EMA.
ZIM Updated its Dividend Distribution
ZIM Integrated Shipping Services Ltd. has a current market cap of $2.878 billion. Its EPS TTM is $38.50, dividend yield is 70.77%, and P/E is 0.62. ZIM dividends are paid quarterly and the next dividend per share is expected to be $6.40. According to its press release on March 22, “the dividend distribution is expected to take place on April 3, 2023.”
As the Ruling will apply to this Dividend, “thus certain shareholders may be eligible to a reduced Israeli withholding tax rate with respect to their share of this Dividend, in comparison to the generally applicable withholding tax rate, under certain terms and conditions as set forth below.”
Resistance Level: $25.00
Support Level: $21.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
