ZTO Express Cayman may fall to 18.40 - 19.00

Our pivot point is at 21.8.

Our preference

The downside prevails as long as 21.8 is resistance.

Alternative scenario

The upside breakout of 21.8 would call for 22.7 and 23.3.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 22.0245 and 22.2544).

Supports and resistances

23.3 **

22.7 *

21.8 **

21.4

20.76 (USD-last)

19.6

19 **

18.4 *

17.9 **

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