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Bearish Moving Average Cross by 8X8 Inc (EGHT)

By Shiri Gupta

8X8 Inc (NYSE:EGHT) crossed under its 10-day moving average of $21.61 on a volume of 2.2 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, 8X8 Inc has traded in a range of $10.30 to $23.05 and is now at $18.02, 75% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 1.1%.

SmarTrend recommended that subscribers consider buying shares of 8X8 Inc on January 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $15.30. Since that recommendation, shares of 8X8 Inc have risen 44.1%. We continue to monitor EGHT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses 8x8 inc

Ticker(s): EGHT