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>>5 Stocks Poised to Pop on Bullish Earnings
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.