spot_img
spot_img
spot_img
ThecoinrepublicStockZIM Stock Price Has Potential To Gain...
google-news-img

Trending

Hamster

Hamster

notco

Notcoin

mogutou

Mogutou

Premium Partners

immerion
spot_img

ZIM Stock Price Has Potential To Gain 30%, Suggests Analysts

spot_img

Zim Integrated Shipping Services (ZIM) stock price crashed more than 50% in the last 6 weeks. The stock price registered a new record low of $11 on Friday, breaking below the previous all-time low of $11.78. 

The daily ZIM price chart showed some signs of recovery this week as the price gained nearly 7% on Monday and Tuesday. However, the price still trades in the bearish territory. The price is observed to be following a declining channel pattern over the daily chart and declining.

The technical indicators imply that the price has witnessed a breakdown of the 200-day EMA in June 2022. Since then, the price declined continuously. The key exponential EMAs of 50 and 200 acted as a dynamic resistance for the price which dragged the price from $54 to a recent low of $11

Analysts offering a 1-year price forecast for Zim Integrated Shipping Services have a maximum estimate of $15.40 with an upside potential of more than 30% and a minimum estimate of $10.61. 

 Source: barchart.com

ZIM stock option-chain analysis states that the current implied volatility in the market is 31.07% with a decrement of 4.63% in the last trading session. The at-the-money strike has an OI of 285 on the PUT side and 1800 on the CALL side indicating the sellers dominating at the CMP. 

ZIM Stock Price Crashed to Hit an All-Time Record Low 

Source: Zim Integrated Shipping Services  1D. NYSE By TradingView

The ZIM stock price currently trades at $11.78 and has made a breakdown to hit an all-time low on Friday. The price showed some signs of recovery in the current week and has gained nearly 8% in the first 2 sessions.  

ZIM share price trades in a channel pattern and might try to maintain the channel until it gets enough buying volume to break above. 

The price may decline more until it is maintained in the channel. Also, the option data shows the dominance of the sellers at the upper levels which shows weakness as per the data. 

Technical Indicators Show Weakness Over the Chart

Source: Zim Integrated Shipping Services  1D. NYSE By TradingView

The daily ZIM stock price chart shows that the price is trading below the key moving average of 50 and 200-day EMA. The EMA has turned out to be a resistance to the price. 

The overall technical opinion rating including RSI and MACD signals an 88% “sell” with a weakening short-term outlook on maintaining the current direction.

Conclusion

Zim Integrated Shipping Services is a shipping and logistics company whose stock price has fallen by more than 50% in the last six weeks. The price hit a record low of $11 on Friday and is trading in a downward channel pattern. The technical indicators and the option data suggest that the price is weak and may decline further. The analysts have a maximum estimate of $15.40 and a minimum estimate of $10.61 for the next year. The price needs more buying volume to break above the channel.

Technical Levels

  • Support levels: $10.86 and $10.01
  • Resistance levels: $12.19 and $12.77

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

Our Newsletter

Subscribe to our newsletter to get the latest news and promotions.

Nancy J. Allen
Nancy J. Allen
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and a 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.
spot_img
spot_img

Related News

Negative Revenue Leading to Decline; BTBT Stock Lost 40% 
Adarsh Singh

BTBT (NASDAQ: BTBT) Made a Bottom, Will It Trigger a Pullback?

The Block Stock (NYSE: SQ) Hints Rejection; Will It Retest $50?|
Ritika Sharma
Marathon Digital Stock Price||
Andrew Smith
HOOD (NASDAQ: HOOD) Hovers Near $10
Adarsh Singh
AMD (NASDAQ: AMD) Flips from Top Amid Robust Q4 Earning Results||
Nancy J. Allen
HUT (NASDAQ: HUT) Displays Breakdown
Ahtesham Anis
spot_img