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

By Nick Russo

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 $111.04 and $117.78 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 (NYSE:ZTS) is currently priced 21.4% above its average consensus analyst price target of $88.00. The stock should run into initial resistance at its 200-day moving average (MA) of $124.71 and subsequent resistance at its 50-day MA of $131.22.

In the past 52 weeks, shares of Zoetis Inc have traded between a low of $90.14 and a high of $146.26 and closed yesterday at $112.02, which is 24% above that low price. The 200-day and 50-day moving averages have moved 0.09% lower and 2.29% lower over the past week, respectively.

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.

SmarTrend is monitoring the recent change of momentum in Zoetis Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Zoetis Inc in search of a potential trend change.

Keywords: bearish am inside day candle zoetis inc

Ticker(s): ZTS