ZTO Express Cayman may rise to 27.90 - 29.00

Our pivot point stands at 22.5.

Our preference

The upside prevails as long as 22.5 is support.

Alternative scenario

The downside breakout of 22.5 would call for 20.8 and 19.7.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 21.3935 and 21.0714). Finally, ZTO Express Cayman has crossed above its upper daily Bollinger band (23.49).

Supports and resistances

30.1 **

29 *

27.9 **

26.9

24.59 (USD-last)

23.2

22.5 **

20.8 *

19.7 **

Number of asterisks represents the strength of support and resistance levels.