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Possible Bearish Inside Day Candle Pattern Detected for Zoetis Inc (NYSE:ZTS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Zoetis Inc (NYSE:ZTS) based on the price action in the company's shares. Today's price range of $114.86 and $114.86 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Zoetis Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company's products are sold in North America, Europe, Africa, Asia, Australia, and Latin America.

Zoetis Inc (NYSE:ZTS) defies analysts with a current price ($114.86) 23.4% above its average consensus price target of $88.00. The stock should find initial support at its 50-day moving average (MA) of $108.81 and further support at its 200-day MA of $96.46.

In the past 52 weeks, shares of Zoetis Inc have traded between a low of $78.90 and a high of $115.63 and are now at $114.86, which is 46% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of Zoetis Inc on May 3rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $102.59. Since that recommendation, shares of Zoetis Inc have risen 12.0%. We continue to monitor ZTS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle zoetis inc

Ticker(s): ZTS