8×8 (NASDAQ:EGHT)

EGHT - chart" src="http://stock-tipper.com/wp-content/uploads/2011/05/EGHT03.png" alt="" width="480" height="279" />

EGHT - Google Finance" href="http://www.google.com/finance?q=NASDAQ:EGHT">8×8 EGHT is a stock that I have been following since October of last year. My first post about this company was made after the company had reported record quarterly results at the time.

Two weeks ago, the company reported their Fourth Quarte and Full-Year Fiscal Results and once again they delivered record results! At the time of the announcement, the reaction from the market was modest. The share price did spike on the news, but then there was a retrace.

Over the past few days, however, there has been a build up in trading volume. Yesterday, the share price broke through a major resistance line and rallied to a new multi year closing high of $3.54. The above chart shows the break-out and this is a bullish signal!