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 has pulled back to its uptrend line (green). Large players have stopped selling the stock over the last few days. The Twiggs Money Flow is holding positive.
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.