Nearest Resistance: $4
Nearest Support: $3.60
Catalyst: Acquisition Rumors
Zynga (ZNGA - Get Report) 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.
Twitter and become a fan on Facebook.