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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 $142.81 and $143.80 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.

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

Zoetis Inc share prices have moved between a 52-week high of $146.26 and a 52-week low of $91.25 and closed yesterday at 58% above that low price at $144.06 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

Based on a current price of $144.06, Zoetis Inc is currently 38.9% above its average consensus analyst price target of $88.00. The stock should discover initial support at its 50-day moving average (MA) of $134.78 and subsequent support at its 200-day MA of $122.04.

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