Vonage (VG) has some interesting fundamental developments lately, which are nicely outlined in this article by Anders Keitz. It is a very interesting story and is quite compelling in view of the action in Twilio (TWLO) .
While good stories are nice, it is the price action that is the key to a good trade. VG is now starting to look technically attractive. The stock has a large float and can trade rather sluggishly, but it is starting to poke its head above key resistance.
My approach with a stock like this is to buy incrementally. I'm not going to rush and buy a full position today, but will watch for it to develop further. The key support levels are becoming clear and higher highs will attract momentum buyers that have it on their radar.
Overall the market action today is quite slow. The indices are fading back to opening levels, but is still better than 2 to 1 positive. I've had some good luck with thinner names like InVivo (NVIV) , Lantheus (LNTH) and AirGate (AIRG) , but there are still other quality movers like Shopify SHOP and Resolute REN.
While I'm happy with the action in many stocks, my holding periods are quite short and I'm making sure I don't let gains slip away.
