ramek

ZNGA: accumulation is over?

Long
BATS:ZNGA   Zynga Inc
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3
I'm in study of Richard Wyckoff's trading method. This chart is how I understand his doctrine.
I may be wrong, so you are free to critic and comment.

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do you still think we go higher before lower ??
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ramek 24SevenCharts
I don't know, let's see how it goes. Is I see ZNGA is in up trend. It makes higher highs and higher lows. I don't see any significant selling. According to Richard Wyckoff up trend should continue until Smart Money starts distributing the stock. I don't see that. May be 11.03 bar was a preliminary supply.
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3.00 mark may also catch some attention before breaking down further seems price was congested there some time.
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ramek OptnTradr
So you think, ZNGA must go down to 3$ and lower?
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No, If does travel lower it 3.00 will be a key line in the sand honestly right now looks like it setting up for cup and handle rounding bottom break out pull back watch for another break out.
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Forgot to mention:
in this accumulation each up move becomes little faster, and down moves become slower and take more time. That is also a sign of strength.
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