8X8 INC (EGHT) Stock Technical Analysis
NASDAQ:EGHT - Nasdaq - US2829141009 - Common Stock - Currency: USD
We assign a technical rating of 0 out of 10 to EGHT. EGHT scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
When comparing the yearly performance of all stocks, EGHT is a bad performer in the overall market: 92% of all stocks are doing better.
EGHT is one of the lesser performing stocks in the Software industry. 81% of 282 stocks in the same industry do better.
EGHT is currently trading near the lower end of its 52 week range, which is not a good sign. The S&P500 Index is trading in the upper part of its 52 week range, so EGHT is lagging the market.
In the last month EGHT has a been trading in the 1.56 - 1.99 range, which is quite wide. It is currently trading near the lows of this range.
EGHT has an average volume of 1364920 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The technical rating of EGHT is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
1.56
3.20
We found 2 important support areas.
- Support @1.65 from a trend line in the daily time frame.
- A support zone ranging from 1.58 to 1.58. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 5 important resistance areas.
- A resistance zone ranging from 1.82 to 1.82. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 1.86 to 1.86. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @2.84 from a trend line in the weekly time frame.
- Resistance @2.95 from a trend line in the weekly time frame.
- Resistance @3.17 from a horizontal 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 | DOWN | NEGATIVE | The long term trend for EGHT is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for EGHT is down. |
| ChartMill Relative Strength | 8.83 | NEGATIVE | EGHT has a low relative strength, it was outperformed by 91.17% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of EGHT is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of EGHT is below a declining 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) | 42.18 | NEUTRAL | The RSI value for EGHT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests EGHT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 17.86 | OVERSOLD | The low Stochastics value suggests EGHT may be oversold. |
| Average True Range in percent/ATR (20) | 5.77 | HIGH VOLATILITY | The high ATR as a percentage value for EGHT suggests high volalility. |
| Average Directional Index/ADX (14) | 25.18 | POSITIVE | The high ADX value value for EGHT suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
1.65
+0.04 (+2.48%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg2.48%
1 Week1.85%
2 Weeks-8.84%
1 Month-6.78%
3 Month-34%
6 Month-46.77%
12 Month-39.56%
2 Year-59.56%
3 Year-77.24%
5 Year-88.65%
10 Year-80.22%
15 Year25%
Volatility
ATR(14)0.1
ATR(20)%5.77%
ATR Inc-48.29%
Range Today0.05
ADR(20)0.09
ADR(20)%5.27%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS8.83
Mansfield-3.03
10 Day High1.84
10 Day Low1.57
20 Day High1.99
20 Day Low1.57
52 Week High3.52
52 Week Low1.51
CS1 End1.65
CR1 Start1.82
Volume & EV
DER(3)-4.34%
DER(5)-3.11%
Volume783.90K
Volume Incr-36.6%
Vol(5)1.00M
Vol(50)1.36M