Watch for a breakout of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares as it would suggest a continuation of its uptrend
Dwight Galusha | December 7, 2021 | SmallCapPower: ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) appears to be setting up near the apex of a multi-month consolidation/continuation pattern as price action attempts to push above horizontal resistance. Watch for a breakout as it would suggest a continuation of the uptrend.
ZIM Integrated Shipping Services is a global container liner shipping company with leadership positions in the markets where it operates. Founded in Israel in 1945, ZIM is one of the oldest shipping liners, with over 76 years of experience, providing customers with innovative seaborne transportation and logistics services with a reputation for industry leading transit times, schedule reliability and service excellence.
The company recently reported third-quarter revenue that surged 210% year-over-year to $3.14 billion, while its net income for the period soared 913% to a record $1.46 billion.
ZIM made its public debut on January 28, 2021, through an initial public offering of 14.5 million shares.
Dwight Galusha is a Chartered Market Technician (CMT) whose work can be found at www.SetYourStop.com
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