RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of RNG
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Weaker technical forecast for RingCentral, Inc. as stock downgraded to Hold/Accumulate.
(Updated on Mar 28, 2024)

Buy or Hold candidate since Mar 20, 2024 Loss -3.87% PDF

The RingCentral, Inc. stock price fell by -0.401% on the last day (Thursday, 28th Mar 2024) from $34.88 to $34.74. During the last trading day the stock fluctuated 2.20% from a day low at $34.54 to a day high of $35.30. The price has fallen in 7 of the last 10 days and is down by -1.86% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -210 thousand shares and in total, 755 thousand shares were bought and sold for approximately $26.23 million.

The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.80% during the next 3 months and, with a 90% probability hold a price between $32.85 and $38.87 at the end of this 3-month period.

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RNG Signals & Forecast

The RingCentral, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $35.21. On a fall, the stock will find some support from the long-term average at approximately $33.69. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -4.40%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for RingCentral, Inc. stock

RingCentral, Inc. finds support from accumulated volume at $33.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.760 between high and low, or 2.20%. For the last week, the stock has had daily average volatility of 2.51%.

Our recommended stop-loss: $33.04 (-4.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (RNG) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect RingCentral, Inc. to open at $34.86, and during the day (based on 14 day Average True Range), to move between $33.57 and $35.91, which gives a possible trading interval of +/-$1.17 (+/-3.37%) up or down from last closing price. If RingCentral, Inc. takes out the full calculated possible swing range there will be an estimated 6.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $34.97 (0.66%) than the support at $33.06 (4.84%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is RingCentral, Inc. stock A Buy?

RingCentral, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.731 Hold/Accumulate Downgraded

Predicted Opening Price for RingCentral, Inc. of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$34.86 ( 0.345%) $34.74

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for RNG

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 35.62 2.53 %
R2 35.33 1.70 %
R1 35.15 1.18 %
Current price: 34.74
Support S1 34.57 -0.490 %
S2 34.39 -1.01 %
S3 34.10 -1.84 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 35.34 1.73 %
R2 35.05 0.89 %
R1 34.97 0.662 %
Current price 34.74
Support S1 33.06 -4.84%
S2 31.63 -8.95%
S3 30.22 -13.01%

FAQ

What is the symbol for RingCentral, Inc. Stock and on which exchange is it traded?
The symbol for RingCentral, Inc. is RNG and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell RingCentral, Inc. Stock?
RingCentral, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

How to buy RingCentral, Inc. Stock?
RingCentral, Inc. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy RingCentral, Inc. Stock.

What's the current price of RingCentral, Inc. Stock?
As of the end of day on the 2024-03-28, the price of an RingCentral, Inc. (RNG) share was $34.74.

What is the 52-week high and low for RingCentral, Inc. Stock?
The 52-week high for RingCentral, Inc. Stock is $43.28 and the 52-week low is $25.08.

What is the market capitalization of RingCentral, Inc. Stock?
As of the 2024-03-28, the market capitalization of RingCentral, Inc. is 3.199B.

When is the next earnings date for RingCentral, Inc.?
The upcoming earnings date for RingCentral, Inc. is May 14, 2024.
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About RingCentral, Inc.

RingCentral. RingCentral, Inc. provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. The company offers business cloud communications and contact center solutions based on its Message Video Phone? platform. Its products include RingCentral Office that provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, confe... RNG Profile

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