ZIM is in for a long 3 quarters with global freight rates in the gutter but after a 75% move down and a really nice reaction to the last major level ($18-19) the major HTF bull div has a shot at playing out. Specifically with wall-street running away as the massive dividend is likely to be cut in Q1 (who cares)The main thing to consider is if this is a hold or a swing trade and with the current macro environment I think it needs to be a swing trade OR long long term hold. For the long term hold you need to examine freight rates and what ZIM was doing in 2019 (exclude bubble data from 2020-2022) DYOR and see what you think. Worth a look IMO.
The main thing is the S/R level could not be more clear... above $18 upside potential is pretty good and below $18 downside is price discovery...
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.