ZTO Express Cayman may rise to 30.90 - 32.00

Our pivot point stands at 25.3.

Our preference

The upside prevails as long as 25.3 is support.

Alternative scenario

The downside breakout of 25.3 would call for 23.5 and 22.4.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 23.3195 and 21.4024).

Supports and resistances

33.1 **

32 *

30.9 **

29.8

26.99 (USD-last)

26

25.3 **

23.5 *

22.4 **

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