Ringcentral Stock Long Trade Setup
RingCentral stock is looking like a compelling long entry. The company has achieved annual sales growth of 36.9% per year for the last 5 years.
RingCentral stock has received only buy ratings from top analysts in the last six months. Analysts are predicting a $38 price target on average.
Synergy Research reports that the company’s flagship product, RingCentral Office, is ranked the highest by subscriber seats among all UCaaS vendors, growing at 53% year-over-year, which is 137% faster than its nearest competitor.
RNG is a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 35.54, a stop order could be placed below this zone.