With economy going into recession (most likely), shipping services will not be as required as they were during the pandemic.
That said, ZIM took a lot of value during the pandemic. Now that it is over, and adding that inflation is super high, gas prices through the roof, shipping services will not be as popular over the next few months, years as they were.
So basically people will stop buying stuff cause they won't have any money available to spend. Stuff won't need shipping anymore, or at least not as much as before.
So here we are. Descending triangle, confirmed (-72%)
Target price = 14.18$
Same price as IPO price going back 2 years ago.
Not pretty.
But as always,
Stay humble, have fun, make money!
That said, ZIM took a lot of value during the pandemic. Now that it is over, and adding that inflation is super high, gas prices through the roof, shipping services will not be as popular over the next few months, years as they were.
So basically people will stop buying stuff cause they won't have any money available to spend. Stuff won't need shipping anymore, or at least not as much as before.
So here we are. Descending triangle, confirmed (-72%)
Target price = 14.18$
Same price as IPO price going back 2 years ago.
Not pretty.
But as always,
Stay humble, have fun, make money!