Facebook Inc. (NASDAQ:FB) Up 0.96% on a Slight Rally, Zynga Inc. (NASDAQ:ZNGA) Down 3.09%
Northern, WI 05/23/2013 (GDPInsider) – Facebook Inc. (NASDAQ:FB) is having a slight rally after early trading saw it slightly off color. The stock opened the day at 24.77, down 0.39 cents on its previous close of 25.16. The slight dip didn’t last long, though, and the stock is back in the green with a trading range of 24.77 and 25.53. Early morning volume is 10.164 million traded shares, less than 30% below average volume of 37.644 million.
FB has proven its reliance, bouncing back from its steep decline shortly after IPO. The stock has settled and although in the last five days FB’s biggest five-day gain have been 0.46%, investors seem to be comfortable with the way things are being run. The social network will be buoyed by news that its platform has beat out competitors to rate highest in terms of sales convertibility. This is good news as it will give investors’ confidence in the business model going forward.
FB has a RSI of 35.96 and is down slightly on its SMA50 of 26.52. Analysts have set a target price of 33.21 for the stock.
Is FB a solid investment at these levels? Get exclusive data and trends here.
Zynga Inc. (NASDAQ:ZNGA) is trading down 3.09% after starting the day’s trading at 3.31, 0.09 cents below its previous close of 3.40. The stock has a range of 3.25 and 3.33 and current valuation means ZNGA is trading 59.33% above its 52-week low of 2.09 but 53.62% below its 52-week high of 7.18. Volume in early morning trading is 4.739 million, a way off from average volume of 29.743 million.
Investors have been bullish on ZNGA in the last few trading sessions. The stock has modest but consistent climbs in the last five days: +0.30% on May 17; +
+0.59% on May 20, and +1.47% on May 21, 2013.
ZNGA has a RSI of 48.43 indicating that the stock is neither oversold nor overbought at present market valuation. Its technical chart shows a modest northward climb and ZNGA is only trading 4.85% below its next resistance level of 3.50. Despite the decline since its IPO, ZNGA has shown signs of a rebound and the company has a market cap of $2.64 billion.
How Should Investors Trade ZNGA Now? Get exclusive insights and updates here.
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