8x8 Inc Forecast and Stock Analysis
Technical EGHT stock analysis for Thursday May 23, 2019.
|Shorts||10.39% ( 2019-04-15 )|
|Price to book||USD 9.20|
|Next Earnings Date||2019-07-23|
8x8 Inc fell by -1.85% in the last day ( Thursday, 23rd May 2019 ) from $23.82 to $23.38 During day the stock fluctuated 3.33% from a day low at $23.01 to a day high of $23.77. The price has risen in 6 of the last 10 days , but is still down by -1.72% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -1.43 million shares and in total 1.38 million shares bought and sold for approximately $32.20 million.
- 30 day high of the EGHT stock price was $24.39 and low was $22.00.
- 90 day high was $24.39 and low was $18.08.
- 52 week high for the 8x8 Inc - $24.39 and low - $15.13.
8x8 Inc lies in the lower part of a wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $22.94 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 27.31% during the next 3 months and, with 90% probability hold a price between $29.20 and $32.36 at the end of this period.
8x8 Inc holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $23.33 and $22.89. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday May 22, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 44 and the stock is currently not being overbought or oversold
Support & Resistance
8x8 Inc finds support from accumulated volume at $23.14.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.77 (3.33%) between high and low. For the last week, the stock has had a daily average volatility of 2.92%.
Our recommended stoploss: $22.20 (-5.03%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 1 days ago.)
2.92 %Average volatility
Very Low Low Medium High Very High
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.
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|EGHT $23.38 ($-0.44 -1.85%)|
EGHT is down $0.44 today, but where's it headed in 2019?
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