- The ZIM Integrated Services share price has declined by more than 86% from its all-time high.
- The company yielded a dividend of 170.91% for the year 2022.
ZIM Integrated Shipping Services Ltd. (NYSE: ZIM), also commonly known as ZIM, is a cargo shipping company founded in 1945. The company has its headquarters in Haifa, Israel and its current CEO is Eliyahu Glickman. The company provides its services worldwide and made its biggest profit in the year 2021 in its 75 years of operation.
ZIM stock is trading at a CMP of $11.00. The company has a market cap of $1.322 Billion, with 120.184 Million floating shares in the market and an average volume of 2.543 Million. The current beta of the share is 1.35 which makes it more volatile than the market as a whole.
The current gross margin of ZIM Integrated Shipping services is 27.47%. The company has an EPS of $10.81 which indicates that the company makes $10.81 on each share and the market cap of the company has declined by -73.7% year-on-year resulting in $1.49 Billion in Q2 2023. The company has net cash of $1.04 Billion which reflects an increase of 9.9% when compared to the previous year’s quarterly result.
ZIM Integrated Services Performance Analysis
ZIM Integrated Shipping Services revenue has advanced by $1.83 Billion in the year 2022 resulting in $12.56 Billion. There has been a slight decline in the net income of the company resulting in $4.62 Billion, with a profit margin of 36.77%. The company also has a debt of $5.54 Billion and the free cash flow has increased compared to the year 2021.
ZIM Stock Technical Analysis
z by writer11_gsm on TradingView.com
ZIM stock is declining from higher levels, making lower lows following a bearish market structure. The stock is trading inside a falling wedge pattern and the price may continue to decline as it is making bearish candlesticks.
The price of the stock is trading below the 50-day and the 200-day Exponential Moving Averages (EMA) following a death EMA cross on the charts, which indicates a downtrend in the market.
The RSI is at the level of 30 and has declined below the oversold levels. Since then, it has not hit the overbought zone which indicates that the buyers have been unable to build up momentum for the start of an uptrend. This indicates a bearish trend in the market.
Technical Overview of ZIM Stock
The technicals for the stock are bearish on the daily timeframe with multiple indicators like several moving averages and oscillators giving a bearish signal.
Conclusion
The ZIM stock price is in a downtrend and it is inside a falling wedge pattern. The price is making a bearish candlestick pattern on the daily timeframe, and indicators like the EMAs and the RSI are also giving a bearish signal.
Therefore, the share price might continue to decline to lower levels unless it breaks above the falling wedge pattern.
Technical Levels
- Support levels for the ZIM share are – $5.00 and $8.00
- Resistance levels for the ZIM share are – $ 15.50 and $22.00
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.