ZTO Express Cayman may rise to 24.00 - 24.80

Our pivot point stands at 19.2.

Our preference

The upside prevails as long as 19.2 is support.

Alternative scenario

The downside breakout of 19.2 would call for 17.8 and 17.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 19.454 and 20.3104). Finally, ZTO Express Cayman has crossed above its upper daily Bollinger band (20.77).

Supports and resistances

25.7 **

24.8 *

24 **

23.1

21.01 (USD-last)

19.7

19.2 **

17.8 *

17 **

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