Container ships carry nearly 90% of the world’s cargo, with the largest container ships carrying over 21,000 units. Look for these stocks to continue higher once the markets find support.
ZIM Integrated Maritime Shipping
Zim Integrated Shipping (ZIM) is an Israel-based light container maritime shipping operator. Freight costs have surged over the past two years, due in large part to supply chain issues and lack of shipping containers; likewise, shipping fleets like Zim Integrated are picking up additional fees.
The stock is finding support at key levels during the course of the four week stock market correction, in addition to rocking more than 300% since its NYSE IPO debut, to an all-time high of 64.94 on Jan. 18.
Technically speaking, over the past 20 weeks, (ZIM) built an ascending triangle, breaking above its 59.07 buy point the first week of January. RS Line (right) is signaling a breakout.
|SYMBOL||COMPANY NAME||ENTRY||EXIT||ENTRY PRICE||EXIT PRICE||% GAIN/LOSS|
|ZIM||ZIM Integ Shipping||01/11/2022||01/19/2022||$60.54||$63.00||4.06%|
Container ships carry nearly 90% of the world’s cargo, with the largest container ships carrying over 21,000 units. Look for these stocks to continue higher once the markets find support. As a result, we anticipate these stocks will follow through in the coming months.