ZIM Integrated Shipping had its Relative Strength (RS) Rating upgraded from 70 to 81 Thursday. The stock looks much more interesting on a weekly MarketSmith chart currently.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
History reveals that the best stocks typically have an RS Rating of above 80 in the early stages of their moves.
Looking For The Best Stocks To Buy And Watch? Start Here
ZIM Integrated Shipping is not currently near a potential buy zone. See if the stock goes on to form a chart pattern that could kick off a new climb. It has recently cleared key moving averages, finally breaking through the 10-day.
The company reported 0% earnings growth last quarter. Revenue gains came in at -61%.
ZIM Integrated Shipping holds the No. 21 rank among its peers in the Transportation-Ship industry group, which is currently number 17 of 197 groups. Euroseas and Okeanis Eco Tankers are also among the group's highest-rated stocks.
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
