In a world forever changed by the pandemic, we charge much faster into the digital world than most could have anticipated. In this market spotlight, we will focus on Zynga.
Already Up Over 50% This Year. $ZNGA
Zynga is absorbing and acquiring digital gaming companies. In the mobile gaming space, they purchased Acquire Peak for 1.8 Billion dollars.
They call the theme Hyper-Casual games. They are addicting mobile games designed to kill time; revenue boosts stem from removing ads or buying a VIP subscription for perks.
With the world becoming increasingly digital, how far will they go? Zynga, from personal experience, has immaculate development. Online casinos are even using the applications Zynga is developing, leading to a further boost in revenue for the company. We see a bullish scenario for the company as there is a lot more growth in this sector.
Chart Analysis and Risk Reward.
When to form the trade?
Here we see the EVZO Indicator showing a weekly buy signal.
- Breakout of $10 for short term daytraders
- A pullback to the lower $9.00 range is an entry point.
- Identify all critical levels to do our business on the chart.
- Volume and liquidity is around $25m
- Digital World
See? Many variables make this a profitable idea.
When trading, the job is to identify an opportunity. The timing on when to start the trade is where the technicals come in.
For More Questions:
Please visit our live trading and strategy room.