The Greedy Trader Weekly Analysis
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Uptrend Broken Support

Uptrend Broken Support stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Broken Support alert is a confirmation that long term uptrend reversal is completed and a new downtrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of support trendline. This point is considered as a second chance to sell long position (or open short positions) in uptrend reversal.

Uptrend Broken Support

Archive
- 5/31/2024 -
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Zoetis (ZTS) Technical Analysis

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Summary:
Weekly :Oversold sectorTrend support at 166.68
Daily :Broken trend support lineDaily  MACD line has moved below its signal lineThe period of low volatility of the stock price
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It was the negative week for the Zoetis (ZTS). During the week, the ZTS gave back -0.51 points, or -0.30%, and closed at 169.56 on Friday, May 31, 2024. Weekly volume was 34% 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 uptrend had started on November 3, 2022 at 124.15 and reached 201.92 on December 14, 2023. ZTS gained -77.77 points, or -62.64%, in 58 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (166.68) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.

Medium-term trend: [See ZTS medium-term trend chart]
A medium-term downtrend had started on December 14, 2023 at 201.92 and reached 144.80 on April 22, 2024. ZTS lost 57.12 points, or 28.29%, in 18 weeks. The price is now at the 43.35% retracement level.

Weekly Technical Indicators: [See ZTS weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since March 1, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See ZTS short-term trend chart]
A short-term uptrend had started on April 22, 2024 at 144.80 and reached 175.78 on May 21, 2024. ZTS gained -30.98 points, or -21.40%, in 29 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (182.60) is broken. A broken support is considered to be a long-term bearish signal. 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 short-term trend.

Daily Technical Indicators: [See ZTS daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

The distance between the Bollinger Bands is falling, and it was 6.2% on Friday. It is 50.20% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.72
Williams' Percentage Range (W%R) 39.10
Lane's Stochastic (%D-Slow) 22.39
Greed/Fear Indicator (GFI) 45.00
Moving Average Converg./Diverg. (MACD) 2.21
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 36.62
Williams' Percentage Range (W%R) 54.80
Lane's Stochastic (%D-Slow) 64.15
Greed/Fear Indicator (GFI) 51.23
Moving Average Converg./Diverg. (MACD) -3.60
Trading Signals
Description Value Chart
Weekly Trendline Support 182.60
Weekly Trendline Resistance 178.26
Upper Bollinger Band 174.17
Parabolic System 173.58
20 Day Moving Average 170.13
Daily Stochastic Crossing 169.76
Price 169.56
Weekly Stochastic Crossing 167.45
Quarterly Trendline Support 166.68
50 Day Moving Average 164.06
Lower Bollinger Band 163.63
Sector and Industry
Description Name Rank
Sector Health Care 2
Industry Pharmaceuticals 51
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 175.78
High Date 05/21/2024
Low 167.96
Low Date 05/31/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 178.26
Support 182.60
Low 144.80
Low Date 04/22/2024
High 175.78
High Date 05/21/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 201.92
High Date 12/14/2023
Low 144.80
Low Date 04/22/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Support
Resistance 210.05
Support 166.68
Low 124.15
Low Date 11/03/2022
High 201.92
High Date 12/14/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 249.27
High Date 12/30/2021
Low 124.15
Low Date 11/03/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.