One important metric to look for in a stock is an 80 or higher Relative Strength Rating. ZIM Integrated Shipping stock now clears that threshold, with a jump from 80 to 83 Wednesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
History reveals that the best-performing stocks typically have an 80 or better RS Rating in the early stages of their moves.
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Is ZIM Integrated Shipping Stock A Buy?
ZIM Integrated Shipping stock has been rallying off its 52-week low the past two months, peaking above its 200-day moving average at the beginning of January. While it's not currently an ideal time to invest in this shipping issue, see if the stock manages to form a chart pattern and break out.
The shipping company posted 0% earnings growth last quarter. Revenue rose -61%.
ZIM Integrated Shipping stock earns the No. 24 rank among its peers in the Transportation-Ship industry group. Euroseas and Okeanis Eco Tankers are also among the group's highest-rated stocks.
