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That's true if the charges are of the same sign. But, if the charges are of opposite sign, there there is stable equilibrium in the z-direction.Angela G said:I looked at what happened if we displace the point charge in the z- axis, we call the displacement dz. So by symmetry all the element charges of the ring will act on the charge q. But they will not longer cancel each other. Know we will have a non- zero field,## dE_z##, acting on a charge at a distance dz above the center of ring . The non-zero field is in the positive z-direction . Then the force, ## dF_z ## due to the ring will point away from the ring and thus there is no restoring force on the z-direction . It means that the equilibrium is not statble in the z- direction