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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Zoetis Inc (NYSE:ZTS) based on the price action in the company's shares. Yesterday's price range of $84.58 and $85.71 is within the prior day'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. Traders and investors interested in shares of Zoetis Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 3.0% for shares of Zoetis Inc based on a current price of $85.47 and an average consensus analyst price target of $88.00. The stock should find initial support at its 50-day moving average (MA) of $84.94 and further support at its 200-day MA of $77.39.

Over the past year, Zoetis Inc has traded in a range of $59.50 to $89.25 and closed yesterday at $85.47, 44% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.6%.

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.

SmarTrend is tracking the current trend status for Zoetis Inc and will alert subscribers who have ZTS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle zoetis inc

Ticker(s): ZTS