After breaking to higher ground in May on enormous volume, shares of ZYNGA INC - NASDAQ:ZNGA have found themselves building a high-level base, while working on its right-side with the stock now knocking on the door of a potential break-out to loftier levels as we can observe in the Daily chart above.
While a bit more work is required, we can see that ZNGA presently trades above all of its important moving averages 20/50/200 DMA's, which lends to a healthy technical picture.
In addition, when one extends out to the Weekly and Monthly time-frames, we can also witness that ZNGA remains in fine technical shape across multiple durations.
Thus, both investors/traders may want to continue to monitor the action closely in the days ahead for if ZNGA is capable of going topside of the $6.55 level and can 'stick', such development would likely trigger its next advance into and initial $8 - $10 zone objective with potentially loftier levels down the road.
****NOTE - ZYNGA NASDAQ:ZNGA Is Due To Report Earnings Next Week 7/31/19 After Market Close ****
While a bit more work is required, we can see that ZNGA presently trades above all of its important moving averages 20/50/200 DMA's, which lends to a healthy technical picture.
In addition, when one extends out to the Weekly and Monthly time-frames, we can also witness that ZNGA remains in fine technical shape across multiple durations.
Thus, both investors/traders may want to continue to monitor the action closely in the days ahead for if ZNGA is capable of going topside of the $6.55 level and can 'stick', such development would likely trigger its next advance into and initial $8 - $10 zone objective with potentially loftier levels down the road.
****NOTE - ZYNGA NASDAQ:ZNGA Is Due To Report Earnings Next Week 7/31/19 After Market Close ****
To receive our alerts via email and SMS, join Insider Financial for Free at signup.insiderfinancial.com
We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/
We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/