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Tat Soon Ho, a professional equity trader for a Global Bank based in Singapore specializing in US equities for the past 4 years and currently completing his CFT (Certified Financial Technician). Prior to my current role, i spent about 6 years in the area of Wealth Management focusing on... More
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  • Zynga (ZNGA) --> Buy On Dips; Possible Selling Climax 0 comments
    Jun 20, 2014 8:34 AM | about stocks: ZNGA

    Why consider having ZNGA in your portfolio?

    1) Risk & Rewards

    --> We have a base support at $3.00 and a sharp spike reversal at $2.50. And the longer it holds this "rounded base" , the stronger the perceived support (accumulation by those who knows) for ZNGA.

    2) Extreme pessimism (at least it seems)

    --> There seems to be no good news coming out from this counter, no visible and constant coverage and upgrades and every single news is saying Sell, sell, Sell.

    3) Technical indicators showing bullish divergence

    Declining volume on the past few days with declining prices
    Steepest resistance line broken

    Momentum showing signs of divergence

    I Let's see how it pans out the next few weeks.

    Happy Trading!

    Tat soon

    (click to enlarge)

    Themes: reversal, tech, gaming Stocks: ZNGA
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