Classic ascending wedge is a big bearish sign. Note that on MACD and RSI the lower highs with each price high. I am expecting a drop to around the $6.00 mark before the year ends.
Conclusion for today’s Zynga Inc Intraday analysis: Bullish momentum is expected to continue with a minimum price target of 6.65.
An intraday timeframe (6 hour) candlestick chart of Zynga Inc. is presented in today’s analysis.The uptrending action in price since November 2018 is highlighted with the use of a bullish trendline. The 50 moving average and 200 moving...
Zynga tried to break out of its downward channel today and met strong resistance around $5.80
The stock should fall to the 200 dma in the next week or so.
Price target $5.20
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ZYNGA, with more than 10 millions of volume traded today this share is still bearish, but maybe not for long, considering last year its performance raised more than 55%, so if this share is capable to soar until that level, well it means this year it could do it at 25% at least, so still there's room to play in. However it seems to be coming down to go up then, so...
Traders,
This stock has been on my watchlist for a while.
I was looking to play 2 scenarios.
Buying a dip into 3.20$ 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.
Zynga seems like a pretty safe bet as far as buying a hundred or a couple of hundred shares go. I would stay in above the bottom blue line, setting as stop loss possibly once it hits 2.81 @ 2.79 or 2.8. I would get out by about 2.9
