ZTO Express Cayman may fall to 16.30 - 16.90

Our pivot point stands at 20.2.

Our preference

The downside prevails as long as 20.2 is resistance.

Alternative scenario

The upside breakout of 20.2 would call for 21.2 and 21.8.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 20.153 and 21.9098). Finally, ZTO Express Cayman is trading below its lower daily Bollinger band (standing at 19.06).

Supports and resistances

21.8 **

21.2 *

20.2 **

19.8

18.66 (USD-last)

17.5

16.9 **

16.3 *

15.8 **

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