One stock that's trending very close to triggering a near-term breakout trade is Zynga (ZNGA), which develops online games designed for play on social networking sites. This stock has been hammered by the bears during the last six months, with shares off by a whopping 53%.
If you take a look at the chart for Zynga, you'll notice that this stock has been uptrending modestly strong for the last two months, with shares rising from a low of $2.09 to its recent high of $2.73 a share. During that uptrend, shares of ZNGA have been consistently making higher lows and higher highs, which is bullish technical price action. Shares of ZNGA have recently started to bounce right off its 50-day moving average of $2.34 a share and are quickly moving within range of triggering a near-term breakout trade.
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