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Archive
- 11/8/2024 -
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Zoetis (ZTS) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Zoetis (ZTS). During the week, the ZTS dropped -5.20 points, or -2.86%, and closed at 176.80 on Friday, November 8, 2024. Weekly volume was 62% above average.
ZTS is a member of Health Care Sector. Health Care is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See ZTS long-term trend chart]
A long-term downtrend had started on December 30, 2021 at 249.27 and reached 124.15 on November 3, 2022. ZTS lost 125.12 points, or 50.19%, in 44 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 152.70 and resistance is at 180.07. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
 Medium-term trend: [See ZTS medium-term trend chart]
A medium-term uptrend had started on April 22, 2024 at 144.80 and reached 200.33 on September 19, 2024. ZTS gained -55.53 points, or -38.35%, in 21 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (203.55) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ZTS may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See ZTS weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 25, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See ZTS short-term trend chart]
A short-term downtrend had started on September 19, 2024 at 200.33 and reached 169.30 on November 6, 2024. ZTS lost 31.03 points, or 15.49%, in 48 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 174.16 and resistance is at 193.55. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See ZTS daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since September 24, 2024. This is an indication that the short-term trend is down.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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