Zynga Inc (ZNGA) LongTrade idea:
Buy between $9, but lower the better.
stop loss at $8.30, based on $9 purchase.
Target is $10.50
R:R 2:1
Time frame: Weeks
Is it too late to jump into Zynga Inc(ZNGA)?
For the six months ended 30 June 2021, Zynga Inc revenues increased 64% to $1.4B. Net income totaled $4.8Mvs. loss of $254.2M. Revenues reflect Online Game: Mobile segment increase of 58% to $1.11B, Advertising and other: Mobile segment increase from $120.7M to $253.7M, United States segment increase of 63% to $848.2M, All other countries segment increase of 64% to $552.1M. (source: TradeStation Research)
Latest:
Stellar gaming company with great record, recently trading at discount
Buyers have been stepping up the last 3 weeks with no signs of slowing down while sellers are also declining
Missed consensus estimates on bookings recently, and also had decline in new player enrollment mostly due to Apple's recent changes in policy
Negative remarks above only affect the short term prospects of the stock, bullish long term
Zngabull
ZNGA UpdateNASDAQ:ZNGA has quickly broken its levels and is moving in an upward channel. As long as momentum stays strong and bulls stay in control, ZNGA should have no problem reaching its next resistance levels. Things to watch are for a break in price channel and/or a break below the 100 SMA, this could be an early sign of reversal.
