Potential pull-back / return to mean on RNG

NYSE:RNG   RingCentral, Inc
RingCentral ( RNG ) is doing incredibly against expectation over the past year and, in response, has been overbought by the market. They're outperforming competition by a wide margin, so I'm anticipating steady, longterm growth, though the immediate pull-back following this afternoon's earnings announcement could continue for a day or two, with former executives looking to capitalize on their current share value and institutional money looking to cover recent losses in other industries.

The coincides with a quasi-Elliott wave, likely conflated by the meme-stock fanfare, which could lead into a regression to the mean. Taking into account COVID and the affect of WFH culture, this could take RNG up over $500 around the end of March, with a subsequent pullback to current levels by earnings in May.

This could then be followed by another stretch of growth, judging by the company's massive revenue growth over the past year.

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