Singapore markets closed
  • Straits Times Index

    3,166.27
    -55.25 (-1.72%)
     
  • Nikkei

    28,751.62
    -747.66 (-2.53%)
     
  • Hang Seng

    24,080.52
    -659.64 (-2.67%)
     
  • FTSE 100

    7,044.03
    -266.34 (-3.64%)
     
  • BTC-USD

    54,908.90
    +522.99 (+0.96%)
     
  • CMC Crypto 200

    1,365.60
    -89.82 (-6.17%)
     
  • S&P 500

    4,594.62
    -106.84 (-2.27%)
     
  • Dow

    34,899.34
    -905.04 (-2.53%)
     
  • Nasdaq

    15,491.66
    -353.57 (-2.23%)
     
  • Gold

    1,788.10
    +1.20 (+0.07%)
     
  • Crude Oil

    68.15
    -10.24 (-13.06%)
     
  • 10-Yr Bond

    1.4820
    -0.1630 (-9.91%)
     
  • FTSE Bursa Malaysia

    1,512.22
    -5.38 (-0.35%)
     
  • Jakarta Composite Index

    6,561.55
    -137.79 (-2.06%)
     
  • PSE Index

    7,278.44
    -90.83 (-1.23%)
     

ZIM Integrated Shipping (ZIM) Sees Hammer Chart Pattern: Time to Buy?

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

ZIM Integrated Shipping Services Ltd. ZIM has been struggling lately, but the selling pressure may be coming to an end soon. That is because ZIM recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom.

What is a Hammer Chart Pattern?

A hammer chart pattern is a popular technical indicator that is used in candlestick charting. The hammer appears when a stock tumbles during the day, but then finds strength at some point in the session to close near or above its opening price. This forms a candlestick that resembles a hammer, and it can suggest that the market has found a low point in the stock, and that better days are ahead.

Other Factors

Plus, earnings estimates have been rising for this company, even despite the sluggish trading lately. In just the past 60 days alone 1 estimate has gone higher, compared to none lower, while the consensus estimate has also moved in the right direction.

Estimates have actually risen so much that the stock now has a Zacks Rank #1 (Strong Buy) suggesting this relatively unloved stock could be due for a breakout soon. This will be especially true if ZIM stock can build momentum from here and find a way to continue higher of off this encouraging trading development. You can see the complete list of today’s Zacks #1 Rank stocks here.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
ZIM Integrated Shipping Services Ltd. (ZIM) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting