RingCentral has broken out of its two-year consolidation phase, supported by a historically low multiple and steady growth in revenue and profit. I’m holding a substantial position in my portfolio, as the breakout's strength will be confirmed (or challenged) by next week’s earnings report. That said, my long-term price target remains firm.
Trade active
The recent pullback in profit presents a fantastic opportunity to re-enter the market. I’ve taken advantage of this by increasing my exposure with a substantial position in long-term, near-the-money call options to capitalize on the dip and position for future gains.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.