Zoetis Inc. discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally.
Take a look at the 1-year chart of Zoetis (NYSE: ZTS) below with added notations:
ZTS has hit the $130 mark as resistance on multiple occasions over the past couple of months. The stock now sits just a couple dollars below that level. A solid close above $130 should lead to another leg higher for ZTS.
The Tale of the Tape: ZTS has a key 52-week resistance at $130. A possible long position on the stock would be on a breakout above that level with a stop placed under it.
Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.
No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!
Christian Tharp, CMT