ZTO Express Cayman may fall to 17.60 - 18.50

23.1 is our pivot point.

Our preference

The downside prevails as long as 23.1 is resistance.

Alternative scenario

The upside breakout of 23.1 would call for 24.6 and 25.6.

Comment

The RSI is below its neutrality area at 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 23.2995 and 22.0234). Finally, ZTO Express Cayman has penetrated its lower daily Bollinger band (21.45).

Supports and resistances

25.6 **

24.6 *

23.1 **

22.5

21.45 (USD-last)

19.4

18.5 **

17.6 *

16.7 **

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