ZTO Express Cayman may rise to 29.10 - 30.20

23.7 is our pivot point.

Our preference

As long as 23.7 is support look for 29.1.

Alternative scenario

The downside breakout of 23.7 would call for 21.8 and 20.7.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 25.0865 and 22.7062).

Supports and resistances

31.4 **

30.2 *

29.1 **

28

25.17 (USD-last)

24.4

23.7 **

21.8 *

20.7 **

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