Zynga Forms Bullish Pattern and Zyngs Higher

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

After a bullish engulfing on Tuesday, Zynga (ZNGA) surged to triangle resistance with high volume on Wednesday. Overall, chartists can make a bullish case for this internet-mobile gaming company. A higher low formed in August and the stock surged above the July high with good volume in September. The subsequent triangle consolidation represents a rest after this big move and a break above triangle resistance would signal a continuation higher. Careful with this one because the combination of low price and high volatility make this a high-risk play - either way.

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Arthur Hill
About The Author:

Arthur is Chief Technical Strategist at TrendInvestorPro.com. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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