ZTO Express Cayman may fall to 17.80 - 18.40

Our pivot point stands at 21.3.

Our preference

The downside prevails as long as 21.3 is resistance.

Alternative scenario

The upside breakout of 21.3 would call for 22.3 and 22.9.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 21.1805 and 22.1604).

Supports and resistances

22.9 **

22.3 *

21.3 **

21

20.24 (USD-last)

19

18.4 **

17.8 *

17.3 **

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