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Tuesday, May 1, 2012

New Low Point: (ZNGA)

Stocks falling to new 52 week lows on May 1 are Zynga, Inc. Investors are selling the stock and pushing it lower because they may think that these stocks were overvalued. This could be caused by earnings not meeting expectations, investor speculation, or a fall in market growth.

Shares of Zynga, Inc. (ZNGA) traded higher by 1.92% or $0.16/share to $8.5. In the past year, the shares have traded as low as $7.97 and as high as $15.91. On average, 14496840 shares of ZNGA exchange hands on a given day and today's volume is recorded at 27792856. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $11.35 area where the stock may encounter resistance.