Trade-Ideas LLC identified

Zynga

(

ZNGA

) as a strong on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Zynga as such a stock due to the following factors:

  • ZNGA has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $28.5 million.
  • ZNGA has traded 10.1 million shares today.
  • ZNGA is trading at 2.27 times the normal volume for the stock at this time of day.
  • ZNGA is trading at a new high 3.03% above yesterday's close.

'Strong on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as M&A events, material stock news, analyst upgrades, insider buying, buying from 'superinvestors,' or that hedge funds and momentum traders are piling into a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize. In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.

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More details on ZNGA:

Zynga Inc. develops, markets, and operates online social games as live services played on the Internet, social networking sites, and mobile platforms in the United States, Asia, and Europe.

The average volume for Zynga has been 10.1 million shares per day over the past 30 days. Zynga has a market cap of $1.9 billion and is part of the technology sector and computer software & services industry. The stock has a beta of 0.52 and a short float of 3.3% with 2.40 days to cover. Shares are down 10.9% year-to-date as of the close of trading on Wednesday.

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