From a technical perspective, EGHT is bouncing modestly higher here right above its 50-day moving average of $6.74 with lighter-than-average volume. This move is starting to push shares of EGHT within range of triggering a near-term breakout trade. That trade will hit if EGHT manages to take out some near-term overhead resistance at $7.29 with high volume.
Traders should now look for long-biased trades in EGHT as long as it’s trending above its 50-day at $6.74 and then once it sustains a move or close above $7.29 with volume that hits near or above 832,585 shares. If that breakout triggers soon, then EGHT will set up to re-test or possibly take out its 52-week high at $7.95. If that level gets taken out with volume, then EGHT could easily trend well north of $8.
MORON. There is no trend for a $6 beta stock. If that's what you are following then find another stock to follow in your drug induced state and get off this board. Better yet, forget the market and go to the track. I hear the 4 horse in the 6th is trending.
This company is an innovator. Companies that continue to innovate and bring new, specialized services to their clients will be the winners of the next decade. 8 is one such company. While I can't stand to watch the PPS swings on this stock, I understand that it's a beta stock (as another poster correctly defined it) and legal prey for such fluctuations. As I have said before, it is a long term value play, and as such, should be in more portfolios. I know it will again reach the $7.80 to $8 range and would be a terrific take over at a $13 to $14.50 number if it continues to grow its pipeline and gain share in its niche. Just wish it could achieve a greater recognition in the broader market.