Zynga has been on a tear the last few weeks and I believe it will continue this week. It's hard to ignore the charts (I saw somewhere this is the first time it has closed above the 200ema) and more importantly the results and success of their new releases. Castleville, the first of the Ville games to come to mobile has been off to a great start. I think this week we break the infamous $3.63 mark and end the week between $3.75-$3.80...of course if there is news, it could easily touch or pass $4...Zynga did say FV 2 would be launching on mobile in the 3rd quarter. Let's wait and see what happens this week.
Low volume on Friday and the shorts pile on all day keeping down from the high at $3.55. It hit $3.55 over a ten minute period, So it could hit $3.65 in an hour or less. $3.75 by Friday is a good bet. Done from $4.15 after earnings? Earnings were good,why the drop anyway!!
Grab, I hope you are right. The $3.40/50 area has posed a huge problem many times as I'm sure you are aware. Shorts have launched several successful down trends from this area, but now that more time has lapsed, and DM has had time to put his fingerprints on the firm, hopefully the relentless selling of the past is over.
Agreed...that's why I think this week will be a big tell. The charts are very bullish and the few games they have released in the past month are off to a great start. Let's hope the street is actually starting to notice.