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Zynga Inc (ZNGA) “On a long-term technical basis, the stock (ZNGA) is trading below its 200-day moving average which implies it is in a negative trend. However, the stock has recently broken through an important trendline at 6.02 suggesting the next support level is at 5.70. This weakness suggests the long-term trend is turning neutral.
The stock has support at 5.70 and 5.38. If the stock breaks down through support at 5.70 then it will probably continue lower to 5.38. The stock will meet resistance at 6.02 and 6.35. If the stock breaks up through resistance at 6.02 then it will probably continue higher to 6.35. The 200-day moving average is at 6.11. This will also act as resistance. The stock is extremely oversold according to the Stochastic Indicator (13.82).”
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