In recovery mode from the heavy declines in 2022. Trading back above its 200-day moving average

Zoetis is an American drug company. It is the world’s largest producer of medicine and vaccinations for livestock and pets. The company is reporting earnings tomorrow, it is expected to report earnings of $1.32 on revenue of $2.19bn. Currently, its stock is trading at around $197.30 a share. Between 2016 and 2022, Zoetis has not missed its earnings expectations. 2022 was the first year in 6 years where expectations were not met, this was also during the most recent market crash which affected the majority of the global stock market. Since 2013, the company has not missed its February earnings expectations, not even during 2022. Looking at the chart, we can see that the stock is in recovery mode from 2022 declines. It is now trading above its 200-day moving average once again, but it has found resistance at $201.95. A break of this resistance could pave the path towards its all-time highs. However, yet another rejection may see it fall back towards the 200MA. The stock also has support along the white trendline if the support along the 200MA is too weak. Support along the 200MA reads $173.46 followed by $164.66 (along the white trendline). The technical indicators remain positive, the RSI reads 59 but the MACD has edged closer to its signal line and the volume has fallen off. Perhaps due to some profit taking ahead of the earnings report.