RS - (RS) Technical Pivots with Risk Controls

2024-06-09 07:48:00 ET

Stock Traders Daily has produced this trading report using a proprietary method.  This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This report optimizes trading in Reliance Steel & Aluminum Co. (de) (NYSE: RS) with integrated risk controls.

Warning:

The trading plans were valid at the time this was published, but the support and resistance levels for RS change as time passes, and this should be updated in real time.  Access those real time updates for this and 1000 other stocks here. Unlimited Real Time Reports

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Instructions:

Use the basic rules of Technical Analysis.  Here are some examples: if RS is testing support the signal is to buy and target resistance.  On the other hand, if resistance is tested, that is a sign to short, and target support.  No matter which side the trade is, long or short, the trigger point is both a place to enter and as a risk control.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data can be used to define Day Trading, Swing Trading, and Long Term Investing plans for RS too.  All of these are offered here: Access our Real Time Trading Plans

Longer Term Trading Plans for RS

• Buy RS slightly over 286 target 310.17 stop loss @ 285.17
• Short RS slightly under 310.17, target 286, stop loss @ 311.07

Swing Trading Plans for RS

• Buy RS slightly over 290.54, target 310.17, Stop Loss @ 289.7
• Short RS slightly near 290.54, target 286, Stop Loss @ 291.38.

Day Trading Plans for RS

• Buy RS slightly over 288.51, target 290.54, Stop Loss @ 287.84
• Short RS slightly near 288.51, target 286, Stop Loss @ 289.18.

RS Technical Summary | Raw Data for the Trading Plans