8x8 Inc Forecast and Stock Analysis
Technical EGHT stock analysis for March 19, 2019.
|Shorts||4.92% ( 2019-02-28 )|
8x8 Inc gained 0.24% in the last trading day, rising from $20.66 to $20.71 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 7 of the last 10 days and is up by 10.45% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.65 million more shares were traded than the day before. In total, 2.00 million shares bought and sold for approximately $41.34 million.
Close price at the end of the last trading day (Tuesday, 19th Mar 2019) of the EGHT stock was $20.71. This is 0.24% more than the trading day before Monday, 18th Mar 2019.
During day the stock fluctuated 4.16% from a day low at $19.93 to a day high of $20.76.
30 day high of the EGHT stock price was $20.76 and low was $18.08.
90 day high was $20.76 and low was $16.34.
52 week high for the 8x8 Inc - $23.50 and low - $15.13.
8x8 Inc lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.31% during the next 3 months and, with 90% probability hold a price between $19.46 and $23.24 at the end of this period.
Only positive signals in the chart today. 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 $20.26 and $19.34. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday March 07, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 56 and the stock is currently not being overbought or oversold
Support & Resistance
8x8 Inc finds support from accumulated volume at $19.78.
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 $0.83 (4.16%) between high and low. For the last week, the stock has had a daily average volatility of 2.99%.
Our recommended stoploss: $19.83 (-4.27%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 8 days ago.)
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Evaluation: Buy Candidate
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.