Dallas, Texas 09/27/2013 (Financialstrend) – Game developer Zynga Inc (NASDAQ:ZNGA) has shown improvement on the stock market for the last 10 consecutive day. Shortly after its collaboration with the social marketing goliath Facebook Inc (NASDAQ:FB) the company started to gain attention of traders. Its stock has been showing quite unusual behavior in the day trading on equities market. Despite there being a shift in the price range of over twice the usual size towards the lower side the trading volume of the stock crossed it “support” inflection. The stock traded below its last two year’s resistance level, today; its abnormally sized trading price range forecasts a continuation of the declining trend in price.
The company has been ranked as the “water logged stock which will get wetter”, by a renowned investment company which fact depicts that the market expects its price keep travelling to the lower side in the near future. Even the negative price move couldn’t stop the traders to pay for the shares . All in all 29 million shares of the company were traded during the trading session today. Its daily average trading volume in the last month has been 23.8 million shares only.
Zynga Inc (NASDAQ:ZNGA) a developer and marketer of online gaming applications for social marketing sites like Facebook Inc (NASDAQ:FB). The shares of the company touched resistance level on 54 million shares, this Wednesday.
Conversely to the downside in the Zynga Inc (NASDAQ:ZNGA) Stock, Facebook Inc (NASDAQ:FB)’s stocks have shown an upward slant on the price charts in yesterday’s trading sessions. With a trading volume of 87.6 million shares the stock crossed its highest price level post IPO before closing at $49.46 i.e. some 2% above its last day’s closing price. The upward trend is anticipated to go along till the stock becomes overpriced at approximately $54 to $61.
