When the Price of (RS) Talks, People Listen

December 01, 2024, 12:26 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for RS

• Buy RS near 295.51 target 322.32 stop loss @ 294.66 Details

The technical summary data tells us to buy RS near 295.51 with an upside target of 322.32. This data also tells us to set a stop loss @ 294.66 to protect against excessive loss in case the stock begins to move against the trade. 295.51 is the first level of support below 321.24 , and by rule, any test of support is a buy signal. In this case, support 295.51 is being tested, a buy signal would exist.

• Short RS slightly under 322.32, target 295.51, stop loss @ 323.25 Details

The technical summary data is suggesting a short of RS as it gets near 322.32 with a downside target of 295.51. We should have a stop loss in place at 323.25though. 322.32 is the first level of resistance above 321.24, and by rule, any test of resistance is a short signal. In this case, if resistance 322.32 is being tested, a short signal would exist.

Swing Trading Plans for RS

• Buy RS slightly over 322.32, target 327.16, Stop Loss @ 321.39 Details

If 322.32 begins to break higher, the technical summary data tells us to buy RS just slightly over 322.32, with an upside target of 327.16. The data also tells us to set a stop loss @ 321.39 in case the stock turns against the trade. 322.32 is the first level of resistance above 321.24, and by rule, any break above resistance is a buy signal. In this case, 322.32, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short RS slightly near 322.32, target 317.91, Stop Loss @ 323.25. Details

The technical summary data is suggesting a short of RS if it tests 322.32 with a downside target of 317.91. We should have a stop loss in place at 323.25 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 322.32, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for RS

• Buy RS slightly over 322.4, target 325.99, Stop Loss @ 321.65 Details

If 322.4 begins to break higher, the technical summary data tells us to buy RS just slightly over 322.4, with an upside target of 325.99. The data also tells us to set a stop loss @ 321.65 in case the stock turns against the trade. 322.4 is the first level of resistance above 321.24, and by rule, any break above resistance is a buy signal. In this case, 322.4, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short RS slightly near 322.4, target 317.91, Stop Loss @ 323.15. Details

The technical summary data is suggesting a short of RS if it tests 322.4 with a downside target of 317.91. We should have a stop loss in place at 323.15 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 322.4, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Reliance Steel & Aluminum Co. (de) (RS) available here: RS.

RS Ratings for December 01:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Neutral
P1	0	0	269.92
P2	322.4	317.91	295.51
P3	325.99	327.16	322.32

AI Generated Signals for RS

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Reliance Steel & Aluminum Co. (de) (NYSE: RS) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for RS can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.