Yahoo Finance Zoetis (ZTS) Just Flashed Golden Cross Signal: Do You Buy?
After reaching an important support level, Zoetis (ZTS) could be a good stock pick from a technical perspective. ZTS surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
ZTS has rallied 6.3% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests ZTS could be on the verge of another move higher.
The bullish case only gets stronger once investors take into account ZTS's positive earnings estimate revisions. There have been 1 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on ZTS for more gains in the near future.
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Zoetis Inc. (ZTS) : Free Stock Analysis Report
