RNG trade ideas
RingCentral and Vodafone in strategic partnershipRingCentral is breaking out of 39 week base after announcing a partnership with Vodafone to provide cloud-based communication services.
RingCentral is already producing 30% per month in YoY sales growth. And has steadily gained in EPS with 12%, 14% and 18% YoY growth the past three quarters. This strategic partnership should only accelerate that more.
Stop Loss is 10.52% based on a 10d ATR (x2.7) which requires a position size of R9.5 to manage risk.
Buy Point: Now at 329.18
Stop Loss: 294.55 (10.52%)
Position Size: R9.5
RNG Breakout after Vodafone Partnership AnnoucementWe have been watching RNG for a few weeks now waiting for a solid move above resistance at $306. It looks like today's announced partnership with Vodafone might push it above this level. If it can move above here it could see slight resistance at $310 but we feel that the ATH at $317.84 is a more likely target.
$RNG with a bullish projection after earning release$RNG posted its earnings with the PEAD projecting a bullish outlook following a positive under reaction after the release with PEAD placing the stock in Drift A
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$RNG RingCentral trade setup
Potential long trade in RING as the stock makes a run up into earnings. Very Similar to the breakout in TEAM.
Long above $300
Targets $310 - $318. short term. $350 long term.
Indicators in a bullish reversal
RNG 4 Month #Rectangle #BreakoutNYSE:RNG entering breakout mode that is sending the stock to an ATH daily close.
$RNG 3 month #rectangle #chartPattern #breakoutNYSE:RNG breaking out from a 3 months well defined #rectangle chart pattern to all time highs (ATHs) ahead of its earnings reports later this evening. Add it to you list for a possible long entry after that's out of the way.
RNG ready to push 300?Pretty nice looking ascending triangle. Consolidation near the highs for a third time. Window dressing to push this to 300+?
BIG Potential for RINGCENTRALHey guys, RINGCENTRAL is in a configuration of either going straight up and going down again little by little where suddenly or going up by doing pull backs, we could break the trend line.
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RNG, enters Uptrend as Momentum indicator on Jun 16, 2020A buy signal is generated. This indicator may be signaling that RNG's price has the momentum to move higher since its current price exceeds the price logged 14 days ago. I may consider buying the stock or exploring call options. I backtested 84 similar cases where RNG's Momentum Indicator exceeded 0, and 71 of them led to a successful outcome. Odds of Success: 85%.
NYSE:RNG $276 TargetDISCLAIMER: I'm a beginner and this is one of my first attempts at analyzing a trend. If you think my reasoning is wrong here, please tell me.
We can see that NYSE:RNG price is currently consolidating, with lower highs and higher lows, and after this consolidation period the price should begin a new trend. Given the bullish history of that stock, the fact that overall we're still in an ascending trend, and that the market is slowly recovering from the COVID downtrend, I think its price should continue to rise a little bit, break the 1st resistance and reach at least the 1st target (but I don't think it will break the 2nd resistance).
Target 1: $276
Target 2: $283
Target 3: $290
