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$21.52 (-0.37%)

Volume: 646k

Closed: Nov 26, 2021

Hollow Logo Score: -1.045

8x8 Inc Stock Forecast

$21.52 (-0.37%)

Volume: 646k

Closed: Nov 26, 2021

Score Hollow Logo -1.045
Which way will EGHT go? Request
Key Stats
P/E Ratio -14.30
Beta 1.14
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 38 and the stock is currently not being overbought or oversold

Red day on Friday for 8x8 Inc stock after losing 0.37%
(Updated on Nov 26, 2021)


Sell candidate since 2021-11-23 Gain 1.94%

The 8x8 Inc stock price fell by -0.37% on the last day (Friday, 26th Nov 2021) from $21.60 to $21.52. During the day the stock fluctuated 3.84% from a day low at $20.98 to a day high of $21.79. The price has fallen in 6 of the last 10 days and is down by -3.19% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -439 thousand shares and in total, 646 thousand shares were bought and sold for approximately $13.91 million.

The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.85% during the next 3 months and, with a 90% probability hold a price between $17.74 and $19.92 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, November 19, 2021, and so far it has risen 4.62%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The 8x8 Inc stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $22.65. On a fall, the stock will find some support from the short-term average at $21.25. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss

8x8 Inc finds support from accumulated volume at $21.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.81 between high and low, or 3.84%. For the last week, the stock has had a daily average volatility of 4.69%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is 8x8 Inc stock A Buy?

8x8 Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.045

Predicted Opening Price for 8x8 Inc of Monday, November 29, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price November 29, 2021 Current price
$21.43 $21.52 (Overvalued)
Sell Candidate Unchanged

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Analyst Ratings

On Nov 03, 2021 "Needham & Company LLC" gave "$32.00" rating for EGHT. The price target was changed from $22.58 to 2.5%.

Volatility and Risk
Daily Average Volatility: 4.69 %
Overall Risk: Very High High Medium Low Very Low
Volatility
4.69 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $22.29
Price: $21.52
Support: $21.30

EGHT Insider Trading Show all Trades

INSIDER POWER

1.045

Last 100 transactions
Buy: 227 859 | Sell: 218 104 (Shares)
Date Action Amount Person Type
Nov 16, 2021 Sell 2 542 Zinn Matthew Common Stock
Nov 16, 2021 Sell 211 Zinn Matthew Common Stock
Nov 16, 2021 Sell 3 329 Wilson Samuel C. Common Stock
Nov 16, 2021 Sell 117 Wilson Samuel C. Common Stock
Nov 16, 2021 Sell 1 435 Cota Germaine Common Stock
Show all Insider Trades
INSIDER POWER

1.045

Last 100 transactions
Buy: 227 859 | Sell: 218 104 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 22.23 3.31 %
21.93 1.89 %
21.74 1.00 %
Current price: 21.52
Support 21.12 -1.85 %
20.93 -2.74 %
20.62 -4.17 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 23.77 10.46 %
22.84 6.13 %
22.29 3.58 %
Current price 21.52
Support 21.30 -1.02%
20.69 -3.86%
20.57 -4.41%

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About 8x8 Inc

8x8 8x8, Inc. provides cloud-based, enterprise-class software solutions for small and medium businesses, mid-market, and distributed enterprises worldwide. The company operates in two segments, Americas and Europe. The company’s pure-cloud offering combines voice, conferencing, messaging, and video with integrated workflows and big data analytics on a single platform. It provides 8x8 Virtual Office, a voice as a service with a robust business featur... Read more

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