Zynga stock (NASDAQ
Now that ZNGA has seen a fall of 13% in a month, will it continue its downward trajectory, or is a rise imminent? Going by historical performance, there is a higher chance of a rise for ZNGA stock over the next month. Of 262 instances in the last ten years that ZNGA stock saw a twenty-one-day fall of 13% or more, 143 resulted in ZNGA stock rising over the subsequent one-month period (twenty-one trading days). This historical pattern reflects 143 out of 262, or about a 55% chance of a rise in ZNGA stock over the next month. See our analysis of Zynga Stock Chance of Rise for more details.
Calculation of ‘Event Probability‘ and ‘Chance of Rise‘ using last ten years’ data
- After moving -7% or more over five days, the stock rose on 48% of the occasions in the next five days.
- After moving -8% or more over ten days, the stock rose on 58% of the occasions in the next ten days.
- After moving -13% or more over a twenty-one-day period, the stock rose on 55% of the occasions in the next twenty-one days.
This pattern suggests a higher chance of a rise in ZNGA stock over the next ten days and the next month. However, it has a marginally higher chance of a decline in the next five days.
Zynga Stock Return (Recent) Comparison With Peers
- Five-Day Return: EA highest at 1.1%; PLTK lowest at -23.9%
- Ten-Day Return: ATVI highest at 0.9%; PLTK lowest at -28.2%
- Twenty-One Day Return: EA highest at -2.1%; PLTK lowest at -34.3%
While ZNGA stock may see higher levels, the Covid-19 crisis has created many pricing discontinuities, which can offer attractive trading opportunities. For example, you’ll be surprised how counter-intuitive the stock valuation is for Honeywell vs. NiSource
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