ZNGA Melting Up

Through the pandemic it has been no secret that video game stocks like ATVI and EA are very strong performers since so many people are stuck at home. But you don't hear much about ZNGA , even though it fits the same mold and has been on a great run lately. On top of that, they made a great acquisition lately which will grow the user base and demonstrates management's hunger for growth. IMO the chart is looking very bullish and currently melting up towards $10.

Have been holding the 1/15/21 $10c since the stock was $7.50 in late April. Currently up 100% and gaining.

Target: sell when ZNGA hits $11 region - expecting in Q3. Depending on price action I might hold 1 contract to actually exercise. I like the long term story too.

Reassess if turns decisively back to $8ish


I agree, Are you worried about the volume divergence? looking weaker and weaker....
ZChartDoc evelhalo
@evelhalo, Yes I'm a little concerned with volume and also in the bearish divergences forming with RSI and LMACD. But I think we are in a period similar to Mar-Jun 2019 where we just continue to melt upwards while the indicators cool off. I'm mainly focused on trading this move and will sell most of my contracts at that point.
evelhalo ZChartDoc
@ZChartDoc, I agree with the indicators the RSI dropping to oversold is good in my opinion as long as the support line isn't broken. Still on the fence about increasing position
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out