ZYNGA seems in the middle of a correction after the previous wave down. If this is the case i'm expecting one more impulsive wave down.
MACD, RSI , BB all chasing back to 4 dollar range.
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.
I will wait Zynga breakout
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