Thursday May 23, 2019 Change -1.85% Price $23.38
Chart period: 2019-02-25 - 2019-05-23
VOLUME
Sell
TREND
Buy
MV LONG
Buy

MV SHORT
Buy

PIVOT
Sell

MACD
Sell

Will EGHT stock price go up or down on Tue, 28 May 2019?

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8x8 Inc Forecast and Stock Analysis

Technical EGHT stock analysis for Thursday May 23, 2019.

Buy candidate since 2019-05-16
Shorts 10.39% ( 2019-04-15 )
Insider % n/a
Institutional % n/a
Beta 1.56
ROA -21.55%
Price to book USD 9.20
P/E Ratio -25.49
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.

Quick summary:

  • 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.

Trend

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.

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Signals

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.

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Relative Strength Index (RSI)

RSI14 is 44 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

8x8 Inc finds support from accumulated volume at $23.14.

Support: $23.14 Price: $23.38 Resistance: $23.46

Risk

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

Overall risk:

Very Low Low Medium High Very High

Evaluation:

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.

Buy Candidate Downgraded
Weaker Buy Today EGHT ranks #337 as BUY CANDIDATE #337 Stronger Buy
EGHT $23.38 ($-0.44 -1.85%)
EGHT is down $0.44 today, but where's it headed in 2019?
Zacks Investment Research is releasing its prediction for EGHT based on the 1-3 month system that more than doubles the S&P 500.

This report is free today for StockInvest.us readers.

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Will EGHT stock price go up or down
on Tue, 28 May 2019?

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