Long
ZYNGA Momentum Shift
Zynga has been in a bull flag or descending channel structure for the better part of 4 months. Zynga has received some notable buzz around some of their recent business acquisitions. Looking at the chart, we see bullish divergence on the RSI, Momentum indicator, and a bullish MACD cross signaling a change in trend. A close above the channel EQ could trigger a move toward the top of the channel at $9.50.
Note
So far things have played out nicely, waiting to see if we break the channel. If we do, I presume we'll find resistance at the R2 pivot.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.