RS - Where are the Opportunities in (RS)

2024-05-18 16:20:00 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 288.75 target 312.6 stop loss @ 287.92
• Short RS slightly under 312.6, target 288.75, stop loss @ 313.5

Swing Trading Plans for RS

• Buy RS slightly over 300.28, target 312.6, Stop Loss @ 299.41
• Short RS slightly near 300.28, target 294.32, Stop Loss @ 301.15.

Day Trading Plans for RS

• Buy RS slightly over 299.47, target 300.28, Stop Loss @ 298.77
• Short RS slightly near 299.47, target 294.61, Stop Loss @ 300.17.

RS Technical Summary | Raw Data for the Trading Plans