8X8 INC (EGHT) Stock Technical Analysis
NASDAQ:EGHT • US2829141009
Taking everything into account, EGHT scores 8 out of 10 in our technical rating. Although EGHT is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- Both the short term and long term trends are positive. This is a very positive sign.
- EGHT is one of the better performing stocks in the Software industry, it outperforms 83% of 276 stocks in the same industry.
- EGHT has an average volume of 1789250 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When compared to the yearly performance of all other stocks, EGHT outperforms 45% of them, which is more or less in line with the market.
- EGHT is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so EGHT is lagging the market.
- In the last month EGHT has a been trading in the 1.59 - 2.84 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although EGHT has an excellent technical rating, it does not present a decent entry opportunity 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
1.57
We found 3 important support areas.
- A support zone ranging from 2.20 to 2.21. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @1.67 from a trend line in the weekly time frame.
- Support @1.59 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- Resistance @2.70 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 | UP | POSITIVE | The long term trend for EGHT is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for EGHT is up. |
| ChartMill Relative Strength | 45.89 | NEUTRAL | EGHT is not amongst the best or worst performers 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) | UP | POSITIVE | The current price of EGHT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 52.63 | 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. |
| Stochastics (14,3) | 56.42 | NEUTRAL | The Stochastics value for EGHT is a neutral value. |
| Average True Range in percent/ATR (20) | 9.61 | HIGH VOLATILITY | The high ATR as a percentage value for EGHT suggests high volalility. |
| Average Directional Index/ADX (14) | 35.31 | POSITIVE | The high ADX value value for EGHT suggests a strong trend. |
2.29
+0.07 (+3.15%)
8X8 INC / EGHT FAQ
Can you provide the ChartMill technical rating for 8X8 INC?
ChartMill assigns a technical rating of 8 / 10 to EGHT.
Can you provide the trend direction for 8X8 INC?
The current trend direction for 8X8 INC (EGHT) is Bullish.
Can you provide the RSI signal for 8X8 INC?
8X8 INC (EGHT) has an RSI value of 52.63. This indicates that the stock is currently neutral.
What is the MACD signal for 8X8 INC (EGHT) stock?
The MACD indicator for 8X8 INC (EGHT) has a value of -0.0101204, indicating a bearish trend.
What are the support and resistance levels for 8X8 INC (EGHT) stock?
8X8 INC (EGHT) has a support level at 2.21 and a resistance level at 2.7. Check the full technical report for our detailed analysis of EGHT support and resistance levels.