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Cloud Stock Poised to Ascend Another 15%-Plus

EGHT is trading in a powerful bull channel with good support


8×8 Inc. (EGHT) — This telecommunications company 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 several times since (most recently on Oct. 16) as a key cloud computing holding.

Forbes included 8×8 on its 2013 list of “America’s 100 Best Small Companies.”

Technically, EGHT is trading in a powerful bull channel that began in April 2012. It has support at its 50-day moving average at $10.23, and the bullish support line and 200-day moving average at $9.56.

Buy EGHT at the market for a trade to $12. Long-term investors may want to hold this stock for participation in the cloud computing services sub-sector.

EGHT Chart
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Chart Key

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