8X8 INC (EGHT) Stock Technical Analysis
NASDAQ:EGHT - US2829141009 - Common Stock
2.09 USD
+0.02 (+0.97%)
2.1 USD
+0.01 (+0.48%)
We assign a technical rating of 7 out of 10 to EGHT. EGHT has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
EGHT is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
In the last month EGHT has a been trading in the 1.77 - 2.10 range, which is quite wide. It is currently trading near the high of this range.
When comparing the yearly performance of all stocks, we notice that EGHT is one of the better performing stocks in the market, outperforming 74% of all stocks. However, this relatively good performance is mostly due to a recent big move.
EGHT is an average performer in the Software industry, it outperforms 64% of 280 stocks in the same industry.
Considerably lower volume is observed in the last couple of days.
Besides having an excellent technical rating, EGHT also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. 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.
More info and screens
1.72
2.91
When analyzing the support we can see 4 important areas.
- A support zone ranging from 1.95 to 1.97. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @1.90 from a trend line in the weekly time frame.
- A support zone ranging from 1.81 to 1.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @1.74 from a horizontal line in the daily time frame.
4 important resistance areas can be observed.
- Resistance @2.11 from a trend line in the daily time frame.
- 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 @2.78 from a trend line in the weekly time frame.
- Resistance @2.88 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 | 74.84 | POSITIVE | EGHT has a high relative strength, it outperformed 74.84% 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) | 59.73 | NEUTRAL | The RSI value for EGHT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests EGHT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 94.95 | OVERBOUGHT | The high Stochastics value suggests EGHT may be overbought. |
| Average True Range in percent/ATR (20) | 4.24 | MEDIUM VOLATILITY | The ATR as a percentage value for EGHT suggests some volalility. |
| Average Directional Index/ADX (14) | 14.91 | NEGATIVE | The low ADX value for EGHT suggests a weak or negative 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)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 2.12 | 1.94 | 0.18 (8.49%) | 11.78% |
| An entry @2.12. This is a Buy Stop order right above the resistance zone. | An exit @1.94. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.18 points, which is 8.49%. | For a 1.00% total portfolio risk, you can invest 11.78% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
2.09
+0.02 (+0.97%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg0.97%
1 Week5.56%
2 Weeks12.37%
1 Month12.97%
3 Month20.11%
6 Month-2.34%
12 Month11.17%
2 Year-17.06%
3 Year-39.42%
5 Year-86.56%
10 Year-74.73%
15 Year-2.79%
Volatility
ATR(14)0.09
ATR(20)%4.24%
ATR Inc-14.24%
Range Today0.08
ADR(20)0.09
ADR(20)%4.21%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS74.84
Mansfield-1.4
10 Day High2.1
10 Day Low1.85
20 Day High2.1
20 Day Low1.77
52 Week High3.52
52 Week Low1.52
CS1 End1.97
CR1 Start2.11
Volume & EV
DER(3)1.3%
DER(5)4.11%
Volume492.10K
Volume Incr-51.99%
Vol(5)455.20K
Vol(50)765.38K