ZIM Integ Shipping Svcs had its Relative Strength (RS) Rating upgraded from 80 to 92 Wednesday. Is one of the former leaders in the shipping sector making a comeback?
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This proprietary rating identifies market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the best stocks often have an RS Rating north of 80 at the beginning of a new run.
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While the stock is not near an ideal buy point right now, see if it is able to form and break out from a proper base. This IBD Live favorite still has some work to do, as it is living below key moving averages and the RS Line is far from a new high. Time will tell if the supply-chain issue has worked itself out and products are once again moving on the high seas.
Earnings Report
The company posted 190% EPS growth in its most recent report, while sales growth came in at 113%.
ZIM Integ Shipping Svcs holds the No. 9 rank among its peers in the Transportation-Ship industry group. Capital Products, Torm and Euroseas are among the top 5 highly rated stocks within the group.
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