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Top 6 Stocks to Buy for July

These small- and midcaps have positive fundamental and technical characteristics

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Top Stock to Buy #1 – 8×8 Inc. (EGHT)

8×8 Inc. (EGHT) is a telecommunications company that develops services for Internet protocol (IP), telephony and video applications. It also offers Web-based conferencing and cloud-based computing services.

I first recommended EGHT on Nov. 17, 2011, at $3.85, and then as one of the Top Stocks to Buy for March under $6.25 for a trade to $8 or “as a key cloud computing holding.”

The company announced full-year fiscal 2013 earnings on May 22 of $0.20, up 42% from the prior year, and total revenue of $107.6 million, the first time annual revenue has exceeded $100 million. The next quarterly earnings announcement is scheduled for July 24.

Traders who bought in March may want to nail down a profit. However, the stock is trading in a well-defined bull channel and our new target is $12. The chart is extremely bullish, and while I’d prefer to buy the stock under $8, it may be bought at the market.

EGHT Chart
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Chart Key 

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