drewby4321

RingCentral and Vodafone in strategic partnership

Long
NYSE:RNG   RINGCENTRAL INC
RingCentral 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
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All ideas are for information purposes only. I may or may not invest in the stocks discussed. Before investing in any stock, do your research and trade using your rules.

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