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

By Shiri Gupta

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. Yesterday's price range of $133.76 and $134.16 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. 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 markets its products in North America, Europe, Africa, Asia, Australia, and Latin America.

Zoetis Inc (NYSE:ZTS) is currently priced 34.1% above its average consensus analyst price target of $88.00. The stock should find initial support at its 50-day moving average (MA) of $124.47 and further support at its 200-day MA of $116.70.

Over the past year, Zoetis Inc has traded in a range of $82.26 to $134.81 and closed yesterday at $133.51, 62% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Zoetis Inc on November 27th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $122.03. Since that recommendation, shares of Zoetis Inc have risen 9.9%. We continue to monitor ZTS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle zoetis inc

Ticker(s): ZTS