View: ZNGA AND THE 20 DAY AVERAGE | Swing Trading

Zynga Inc. develops, markets, and operates online social games as live services on the Internet, social networking sites, and mobile platforms.  Zynga has been a horrible acting stock for the most part since March of 2012, however the stock might be starting what I call a character change.  The 20 day moving average for Znga has been an important average, as you can see from the chart below it traded above that level from 1/17/2012 until 3/26/2012, along the way the average acted as support.  Once the stock broke below (late March) it stayed below for roughly 2 1/2 months and acted as resistance.  Over the last couple of days the stock has been peaking its head above the 20 day.  In a situation like this, I like to own the stock going thru the 20 day average like what it is doing now and stop myself out on a close below it.

There is a lot of negativity around ZNGA and rightfully sold, currently 11.58% of the float is short and 9 analyst have a hold rating, 1 has a sell, and 6 have a buy rating.

Tagged as: Uncategorized, ZNGA