ZTO Express Cayman may fall to 17.50 - 18.40

22.8 is our pivot point.

Our preference

The downside prevails as long as 22.8 is resistance.

Alternative scenario

The upside breakout of 22.8 would call for 24.4 and 25.3.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 22.6985 and 22.1554).

Supports and resistances

25.3 **

24.4 *

22.8 **

22.2

21.1 (USD-last)

19.3

18.4 **

17.5 *

16.7 **

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