Cloud Stock Poised to Ascend Another 15%-Plus

by Sam Collins | February 27, 2014 1:47 am

Cloud Stock Poised to Ascend Another 15%-Plus

8×8 Inc. (EGHT[1]) — 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[2] on Nov. 17, 2011, at $3.85, and several times since (most recently on Oct. 16[3]) 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.

02 27 14 eght 300x190 Cloud Stock Poised to Ascend Another 15% Plus
Click to Enlarge

chart key 300x84 Cloud Stock Poised to Ascend Another 15% Plus[4]

Endnotes:
  1. EGHT: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGHT
  2. I first recommended EGHT: http://www.investorplace.com/2011/11/trade-of-the-day-8x8-inc-nasdaq-eght/
  3. on Oct. 16: http://investorplace.com/2013/10/trade-day-8x8-inc-eght/
  4. [Image]: http://investorplace.com/wp-content/uploads/2013/05/chart-key.gif

Source URL: http://investorplace.com/2014/02/trade-day-8x8-inc-eght-2/
Short URL: http://invstplc.com/1lmiWFi