ZYNGA Momentum Shift

Zynga has been in a bull flag or descending channel structure for the better part of 4 months. Zynga has received some notable buzz around some of their recent business acquisitions. Looking at the chart, we see bullish divergence on the RSI , Momentum indicator , and a bullish MACD cross signaling a change in trend. A close above the channel EQ could trigger a move toward the top of the channel at $9.50.
Comment: So far things have played out nicely, waiting to see if we break the channel. If we do, I presume we'll find resistance at the R2 pivot.


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