ZNGA priced a secondary offering today at 12. It therefore has the issue price of 12 as a floor, or anything under 12 as your stop. This would be just under its 50-day moving average. Thus, given where ZNGA is currently trading, you have two levels of support.
ZNGA is currently at 12.69, so a stop placed just under 12 would be about 5.5% away.
ZNGA is an IPO stock, has flaws in its pattern as well as flaws in its earnings line, thus we normally would not put out a report on ZNGA. But given its potential upside due to its story and the excitement over the impending Facebook IPO, some members may wish to give ZNGA a try.
ZNGA develops social games via social networks and mobile platforms, including facebook as one very important social network.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.