ZTO Express Cayman may fall to 16.40 - 17.10

Our pivot point stands at 20.4.

Our preference

The downside prevails as long as 20.4 is resistance.

Alternative scenario

The upside breakout of 20.4 would call for 21.5 and 22.1.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 19.8025 and 21.6048).

Supports and resistances

22.1 **

21.5 *

20.4 **

20

18.95 (USD-last)

17.7

17.1 **

16.4 *

15.8 **

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