The gaming sector is getting HOT again and this stock should be in your watchlist next week. The stock is testing its downtrend line since Sept 2014 with a lot of indicators showing up. It has an up trending RSI currently at 60, indicating bullish potential and it is witnessing a reversal in the MACD, which could symbolize accumulation. If the stock breaks and closes above 2.80, then the rally can be extended further 2.93 and 3.19 levels. I went long at 2.74 and have a stop loss at 2.46.
Hello Miguel, Why not... But I would wait to see if Zynga is able to make a new high @ USD2.95 before buying it ! Too risky now because it is easy for Zynga to go again @2.50 or even @2.20 ! Chris Mac
Miguel, Monday I was cautious... for good reasons! I didn't know the fundamentals, but tape tells the tale ! Always! What to do now ? It gapped down from 2.6 to 2.3. Maybe support @2.20 will hold. In this case, if you are still invested, you can exit @2.5/2.6 if gap is filled. But if Zynga go below 2.2 : BEAR, get out as fast as you can! You see how it works : this may be a really good opportunity, but market will not give money easily ! You must wait a strong support when you enter a trade or a strong confirmation... Chris Mac
Buy1brain, I know you are my biggest fan! Always looking for an old post to try to troll me !!! That post was so old ! But as everyone can see on the bottom, I posted my reco February the 9th, saying Zynga could go to 2.50 dollars, even 2.20 dollars February the 9th : Zynga 2.77 February the 10th : 2.80 Februaty the 11th : 2.81 February the 12th : 2.65 February the 13th : 2.20 No comment. CM