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Shares of Ringcentral In-A Rise Above Previous 52-Week High

By David Diaz

Shares of Ringcentral In-A (NYSE:RNG) traded today at $97.95, breaking its 52-week high. Approximately 143,000 shares have changed hands today, as compared to an average 30-day volume of 803,000 shares.

Over the past year, Ringcentral In-A has traded in a range of $38.45 to $97.95 and is now at $97.80, 154% above that low. Over the past week, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 1.8%.

Ringcentral In-A (NYSE:RNG) defies analysts with a current price ($97.80) 18.5% above its average consensus price target of $79.73. The stock should find initial support at its 50-day moving average (MA) of $85.06 and further support at its 200-day MA of $68.09.

RingCentral, Inc. is a provider of software-as-a-service, solutions for business communications. The Company offers a multi-user, enterprise-grade communications solution that enables customers and their employees to communicate via voice, text, HD video and web conferencing, and fax on multiple devices, including smartphones, tablets, PCs, and desk phones.

SmarTrend recommended that subscribers consider buying shares of Ringcentral In-A on August 7th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $88.00. Since that recommendation, shares of Ringcentral In-A have risen 10.1%. We continue to monitor RNG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows ringcentral in-a

Ticker(s): RNG