RingCentral Cl A saw a positive improvement to its Relative Strength (RS) Rating on Friday, rising from 68 to 74.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating as they launch their largest climbs. See if RingCentral Cl A can continue to rebound and hit that benchmark.
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RingCentral Cl A broke out earlier, but has fallen back below the prior 38.35 entry from a consolidation. In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new base to form. Also understand that the latest consolidation is a later-stage base, and those involve more risk.
While revenue growth fell last quarter from 10% to 9%, the bottom line grew 22%, up from 10% in the prior report.
The company holds the No. 34 rank among its peers in the Computer Software-Enterprise industry group. monday.com, ServiceNow and Palantir Technologies are among the top 5 highly rated stocks within the group.
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