8x8 Inc

On the above 8x8 8-day chart price action has corrected over 90% (slightly annoyed it wasn’t just 80%). A number of reasons now exist to consider a long position, including:

1) Price action and RSI resistance breakouts.

2) Strong bullish divergence with multiple oscillators.

3) Support and resistance. Price action lands on legacy support, look left.


Is it possible price action falls further? Sure.
Is it probable? No.

Ww



Type: trade
Risk: <=6% of portfolio
Timeframe: Long positions between 1.50 and 2.50
Return: No idea
Stop loss: Will say elsewhere

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Past resistance confirms support