RingCentral - Momentum Pick

Summary

• 100% technical buy signals.
• 18 new highs and up 22.67% in the last month.
• 117.63% gain in the last year.

The Barchart Chart of the Day belongs to the business software company RingCentral (RNG). I found the stock by sorting Barchart's Top Stocks to Own list first by the most frequent number of new highs in the last month, then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy in 1/2 the stock gained 20.76%.

RingCentral, Inc. provides solutions for business communications primarily in the United States. The Company's products include RingCentral Office, RingCentral Mobile, and RingCentral Fax. It provides solutions such as auto-receptionist, flexible extension structure, multiple voicemail boxes, smart call routing, business answering rules, extension dialing, call transfers and elegant integration with Smartphones. RingCentral, Inc. is headquartered in San Mateo, California.

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Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can, therefore, change during the day as the market fluctuates. The indicator numbers shown below, therefore, may not match what you see live on the Barchart.com website when you read this report.

Barchart technical indicators:

• 100% technical buy signals
• 95.50+ Weighted Alpha
• 117.73% gain in the last year
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 18 new highs and up 22.67% in the last month
• Relative Strength Index 81.94%
• Technical support level at 199.64
• Recently traded at 209.15 with a 50 day moving average of 178.44

Fundamental factors:

• Market Cap $17.27 billion
• Revenue expected to grow 32.00% this year and another 23.20% next year
• Earnings estimated to increase 5.20% this year, an additional 14.80% next year and continue to compound at an annual rate of 14.00% for the next 5 years
• 16 Wall Street analysts issued 13 strong buy, 2 buy and 1 hold recommendation on the stock
• The individual investors following the sock on Motley Fool voted 47 to 5 that the stock will beat the market
• 7,003 investors are montoring the stock on Seeking Alpha