RingCentral provides cloud-based communication and collaboration tools, including phone, video, messaging, and other solutions. RingCentral’s solutions cover mobile as well as desktop devices. The company has strategic partnerships with AT&T and Avaya. RingCentral has a long growth runway in the small and medium business segment, where Greenfield’s demand for communication solutions is often met by cloud-based services that RingCentral offers. The company seems poised for sustainable long-term growth.

The monthly chart for RingCentral shows an exponential price trend since 2014. The pace of growth picked up significantly post 2017. The price briefly broke the bottom of the long-term trend in March 2020 but has still made higher highs and higher lows. The $297 level acted as a resistance in mid-2020 and provided support to the price, which fell by more than 25% in March 2021. The April 2021 bounce-up is also close to the bottom of the long-term trend. The price target is $390 and can place a minimum stop loss below the bottom trend line at around $265.

Position entered into our long-term tracking portfolio today. The entry point is at $323.88, and a stop-loss placed at $225.97, which is 42 % below the entry point. The short-term to medium take profit at the top of the trend is set at $451.85, giving a profit of 39%.