IamJeanPaul

Zynga wedge breakout

Long
NASDAQ:ZNGA   ZYNGA INC
Traders,
This stock has been on my watchlist for a while.
I was looking to play 2 scenarios.
Buying a dip into 3.20$ or buying the continuation breakout higher.
Now we have a close above the upper wedge line. From a technical perspective an entry with a tight stop seems reasonable.
Check out the fundamentals of this stock.

Good luck.
Comment: I dont like this position anymore, i may be wrong in closing, but it seems to be failing to break 4$ for now. I want to take out a little bit of risk and so thats why i am closing the complete position on breakeven.
Trade closed manually
Trade active: Hi traders,
Not going to post a new idea, so adding to this one.
As you can see zynga is still edging slowly higher.
After forming the triangle it formed a trend continuing flag pattern.
I entered around 4$ with a stop below 3.60$ targeting for now 4.65$ and possibly a move into 5$. Also notice how the bulls are able to hold above the big trendchannel.

Thought to share.
Blessings to you all.

Comments

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