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TheStreet Open House

3 Tech Stocks to Trade (or Not)

Stock quotes in this article: BBRY, ZNGA, AMX

Zynga

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Nearest Resistance: $4
Nearest Support: $3.60
Catalyst: Acquisition Rumors

Zynga (ZNGA) has been staging an impressive rally this quarter, up more than 45% in the last three months alone. This week, Facebook's (FB) little buddy is getting extra attention from rumors over a proposed buyout by Yahoo! (YHOO). Whether or not the rumors prove to be true is another story, but I'm willing to admit that ZNGA actually looks pretty decent from a technical standpoint.

That's thanks to a solid round-number resistance level at $4, and uptrending support below shares. A breakout above $4 means that any glut of sellers has been taking out, and it suddenly makes sense again to be a buyer.

To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr.



-- Written by Jonas Elmerraji in Baltimore.

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At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to TheStreet. Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily, and on CNBC.com. Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.

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