Zynga Inc. (NASDAQ:ZNGA) gained 1.08% in yesterday’s session, going up from its prior closing price of $3.70 to $3.74. The price has fallen in 5 of the last 10 days, but is still up by 0.27% during the last two weeks. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 1.08 million more shares exchanged hands compared with prior day. In total, 4.61 M shares exchanged hands for about $17.22 million.
Inside ZNGA’s Recent Trend
Zynga Inc. (ZNGA) lies in the middle of a weak rising trend in the short term and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 4.65% over the course of a quarter and, with 90% chance the price will be floating in the range of $3.85 and $4.13 in this timeframe.
Zynga Inc. Technical Signals
ZNGA has witnessed its long term and short term MA triggering a sell signal. Upon corrections, the price will meet resistance from the averages between $3.76 and $3.76. A buy signal will be generated if it crosses above any of these levels. Its pivot point low generated buy signal on Wednesday October 11, 2017, which calls for additional surge until the stock forms a new pivot point high. There was increase in both volume and price. This is usually interpreted as a good sign as traders widely believe rising stock should see increasing volume.
Zynga Inc. (NASDAQ:ZNGA) Support And Resistance Levels
Zynga Inc. (ZNGA) recorded volume accumulation so there will probably be a surplus of buyers at $3.69. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $3.76, $3.84 and $3.91.
Accumulated volume is going to prevent the price from rising further at $3.76 and this action will lead the price to take a temporary pause or stay muted for a few days.
Zynga Inc. (ZNGA) Risk Assessment
The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.08 (2.17%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 1.73%.