After slipping out of head and shoulders pattern and falling precipitously, Zynga (ZNGA) has found some legs. With a breakout over the near-term trend line, ZNGA is attempting to neutralize its downtrend and, if successful, may have eyes for the 50 day moving average around 5.90.
Caution though, as this is a 5 dollar stock with much to prove. As with any stock, investors must determine their time horizon and plan for getting in (in layers) and out (i.e. stops). I do not currently have a position in ZNGA.
Zynga (ZNGA) stock chart with price support and resistance levels and technical analysis as of July 23, 2012. ZNGA breakout. ZNGA stock with important price levels and targets.
———————————————————
Twitter: @andrewnyquist and @seeitmarket Facebook: See It Market
No position in any of the securities mentioned at the time of publication.
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of his employer or any other person or entity.
