8x8

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8x8 ( EGHT) offers voice, video, mobile and unified communications solutions for business of all sizes. This stock is trading up 1.6% to $7.13 in recent trading.

Today's Range: $7.06-$7.12
52-Week Range: $3.80-$7.95
Volume: 325,000
Three-Month Average Volume: 832,585

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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.

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