Resistance

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>ZIM stock price is currently in a downward channel.</a> </li> 
 <li> <span>2</span> <a>ZIM Integrated Shipping Services stock price is below the key moving averages.</a> </li> 
</ul> 
<p>ZIM stock price is facing strong bearish pressure on the daily technical charts, as it is trading below the 100 and 200-day EMA. The stock has failed to break above its key resistance levels near the EMAs in the past few months, despite several attempts by the buyers.&nbsp;</p> 
<p>The stock is currently trading near $9.92, with a marginal loss of 5.07% intraday. The stock has a potential upside target of $14, but it needs to overcome the bearish momentum and surge above the 100-day EMA. The stock has a support level of $7.50, which could prevent further downside.</p> 
<p>ZIM price prediction suggests that the stock is in the firm grip of the bears and needs to show some signs of reversal before confirming a bullish trend.</p> 
<p>The technical indicators favor the bears projecting a pessimistic perspective for the buyers. RSI and stochastic RSI oscillators are moving near the overbought zone whereas the major EMA lines are acting as barrier points for ZIM price.</p> 
<p>The company’s performance has been dismal throughout the year. The returns were -42.89% year-to-date, -48.04% in the last six months, -18.95% in the last month, and -11.43% in the last week. This shows a persistent bearish trend that has not reversed yet.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-zim-stock-price-in-1-d-time-frame-strong"><strong>Technical Analysis of ZIM Stock Price in 1-D Time Frame</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/D2Ww7fIxD24ePuSKfNVuLb9aQ5vgkvfk3K2jDvh5uvWDa5MwQ2zi18V17_SzIF-ZmbiEtkCxyf6-A-TSKFNS_1z64ysG-NOXMaYhmlxINSfSt8w2dCJNLLnademj2iVfaz5KFPzjz107U7iW3FwMqo4" alt="Zim Stock: Will Zim Stock Price Surpass 50 EMA In Oct 2023?"> 
  <figcaption class="wp-element-caption">
    Source: ZIM.1D.NYSE by <a href="https://www.tradingview.com/x/kDVuGw4k/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>ZIM stock (NYSE: ZIM) is under the 50 and 200-day DMAs (daily moving averages), which are not upholding the price trend.&nbsp;</p> 
<p>The current value of RSI is 35.80 points. The 14 SMA is below the median line at 30.17 points which indicates that the ZIM Integrated Shipping Services stock is bearish.</p> 
<p>The MACD line at -0.5867 and the signal line at -0.5225 are below the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the ZIM <a href="https://www.thecoinrepublic.com/2023/08/22/zim-stock-price-prediction-will-zim-break-the-10-level/" rel="noopener noreferrer nofollow">stock</a> price.</p> 
<h3 class="wp-block-heading" id="strong-weekly-time-horizon-analysis-strong"><strong>Weekly-Time Horizon Analysis</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/NXzyVdj3_SCqEv76tFlrE6H4PeIFRFAJdMFclEhuKjZ3aoGTJL-KhkGZX8SutCF3slZnEs_NxQwTqPhmAFi0FR-TPmwLA4B_RCr0CCz4M9VckVB4YjC6-BuuTg2z1kfv-dsuI87Lok3BiKa57rsoE-Y" alt="Zim Stock: Will Zim Stock Price Surpass 50 EMA In Oct 2023?"> 
  <figcaption class="wp-element-caption">
    Source: <a href="https://www.tradingview.com/x/3l9CepPA/" rel="noopener noreferrer nofollow">Tradingview</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The weekly charts of ZIM stock reveal that the sellers have been dominant. The stock has been on a downward trend, as it broke below the key EMAs. The technical indicators also confirm the bearish sentiment, as the RSI is near the oversold zone at 32 and the MACD has formed red bars and a bearish crossover. These signals indicate that the stock may face more downside pressure in the coming weeks.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>ZIM (NYSE: ZIM) technical oscillators support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the ZIM Integrated Shipping Services stock price. ZIM price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels </strong>$7.50 and $5.00</li> 
 <li><strong>Resistance Levels: </strong>$18.02 and $13.74</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

Zim Stock: Will Zim Stock Price Surpass 50 EMA In Oct 2023?

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