8X8 INC (EGHT) Stock Technical Analysis
NASDAQ:EGHT - Nasdaq - US2829141009 - Common Stock - Currency: USD
Taking everything into account, EGHT scores 2 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.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
83% of all other stocks performed better in the past year than EGHT.
EGHT is part of the Software industry. There are 284 other stocks in this industry, of which 66% are performing better than EGHT.
EGHT is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so EGHT is lagging the market.
EGHT has an average volume of 1528070 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month EGHT has a been trading in the 1.56 - 1.93 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although the technical rating is bad, EGHT does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 1.58, 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.
More info and screens
1.56
3.20
We found 1 important support area.
- 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 6 important resistance areas.
- A resistance zone ranging from 1.81 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 1.85 to 1.86. This zone is formed by a combination of multiple trend lines and important moving averages in the weekly time frame.
- Resistance @1.95 from a horizontal line in the daily time frame.
- Resistance @2.79 from a trend line in the weekly time frame.
- Resistance @2.91 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 | NEUTRAL | NEUTRAL | The short term trend for EGHT is neutral. |
| ChartMill Relative Strength | 17.14 | NEGATIVE | EGHT has a low relative strength, it was outperformed by 82.86% 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) | 48.1 | NEUTRAL | The RSI value for EGHT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests EGHT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 67.57 | NEUTRAL | The Stochastics value for EGHT is a neutral value. |
| Average True Range in percent/ATR (20) | 5.09 | HIGH VOLATILITY | The high ATR as a percentage value for EGHT suggests high volalility. |
| Average Directional Index/ADX (14) | 17.37 | 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)
1.75
-0.09 (-4.89%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg-4.89%
1 Week-3.31%
2 Weeks-1.13%
1 Month8.02%
3 Month-18.98%
6 Month-35.66%
12 Month-13.37%
2 Year-58.63%
3 Year-66.02%
5 Year-89.06%
10 Year-80.47%
15 Year40%
Volatility
ATR(14)0.1
ATR(20)%5.09%
ATR Inc23.36%
Range Today0.14
ADR(20)0.09
ADR(20)%4.94%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS17.14
Mansfield-2.53
10 Day High1.93
10 Day Low1.69
20 Day High1.93
20 Day Low1.56
52 Week High3.52
52 Week Low1.51
CS1 End1.58
CR1 Start1.81
Volume & EV
DER(3)3.12%
DER(5)2.48%
Volume2.28M
Volume Incr4.98%
Vol(5)1.67M
Vol(50)1.53M