In this video, Trent Klarenbach of Klarenbach Research analyzes the current market structure of RingCentral RNG 0.00%↑ as of December 10th, 2024.
Trent revisits a prior analysis from September 13th, explaining how RNG has progressed through the four stages of market structure on the weekly timeframe.
He discusses Stage 1: Accumulation, Stage 2: Markup, Stage 3: Distribution, and Stage 4 Decline and suggests that RNG may now be entering a new Stage 1: Accumulation, potentially breaking into a Stage 2: Markup.
Trent emphasizes the importance of watching this stock closely, particularly if it surpasses the $42 mark, which could signal a more sustained rally.
Share this post