8X8 INC (EGHT) Stock Technical Analysis
NASDAQ:EGHT - Nasdaq - US2829141009 - Common Stock - Currency: USD
Taking everything into account, EGHT scores 5 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. EGHT was also a bad performer in the overall market in the last year.
EGHT has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 2.17. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 2.02, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for EGHT in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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When analyzing the support we can see 3 important areas.
- A support zone ranging from 1.99 to 2.02. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 1.92 to 1.92. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @1.58 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 2.17 to 2.17. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @2.86 from a trend line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for EGHT is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for EGHT is up. |
| ChartMill Relative Strength | 12.9 | NEGATIVE | EGHT has a low relative strength, it was outperformed by 87.1% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of EGHT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of EGHT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of EGHT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.59 | NEUTRAL | The RSI value for EGHT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests EGHT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 51.56 | NEUTRAL | The Stochastics value for EGHT is a neutral value. |
| Average True Range in percent/ATR (20) | 4.49 | MEDIUM VOLATILITY | The ATR as a percentage value for EGHT suggests some volalility. |
| Average Directional Index/ADX (14) | 17.67 | NEGATIVE | The low ADX value for EGHT suggests a weak or negative trend. |
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