Zynga Inc. : The correction could continue
Entry price | Target | Stop-loss | Potential |
---|
US$2.12 |
US$0 |
US$2.49 |
+100% |
---|
The trend is clearly bearish on Zynga and it could soon reach its USD 1.89 support.
Through the last Q3 publication, the fundamental situation of the company remains fragile. Currently, the company is trading 0.73 times its sales, showing distrust of investors on this security.
Technically, the share is in a downward trend. The moving averages are decreasing and are still above prices, stopping any rebounds. The security is going toward the USD 1.89 support, a level that will represent the first target.
Investors could take a short position to target the USD 1.89 support. A stop loss is placed above the USD 2.39 resistance, threshold that would invalidate the bearish strategy.
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