When (RS) Moves Investors should Listen

January 23, 2025, 14:46 pm ET, BY Simon M.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for RS

• Buy RS near 283.08 target 307.76 stop loss @ 282.26 Details

The technical summary data tells us to buy RS near 283.08 with an upside target of 307.76. This data also tells us to set a stop loss @ 282.26 to protect against excessive loss in case the stock begins to move against the trade. 283.08 is the first level of support below 289.53 , and by rule, any test of support is a buy signal. In this case, support 283.08 is being tested, a buy signal would exist.

• Short RS slightly under 307.76, target 283.08, stop loss @ 308.65 Details

The technical summary data is suggesting a short of RS as it gets near 307.76 with a downside target of 283.08. We should have a stop loss in place at 308.65though. 307.76 is the first level of resistance above 289.53, and by rule, any test of resistance is a short signal. In this case, if resistance 307.76 is being tested, a short signal would exist.

Swing Trading Plans for RS

• Buy RS slightly over 296.05, target 307.76, Stop Loss @ 295.2 Details

If 296.05 begins to break higher, the technical summary data tells us to buy RS just slightly over 296.05, with an upside target of 307.76. The data also tells us to set a stop loss @ 295.2 in case the stock turns against the trade. 296.05 is the first level of resistance above 289.53, and by rule, any break above resistance is a buy signal. In this case, 296.05, 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 296.05, target 286.88, Stop Loss @ 296.9. Details

The technical summary data is suggesting a short of RS if it tests 296.05 with a downside target of 286.88. We should have a stop loss in place at 296.9 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, 296.05, 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 291.1, target 295.56, Stop Loss @ 290.42 Details

If 291.1 begins to break higher, the technical summary data tells us to buy RS just slightly over 291.1, with an upside target of 295.56. The data also tells us to set a stop loss @ 290.42 in case the stock turns against the trade. 291.1 is the first level of resistance above 289.53, and by rule, any break above resistance is a buy signal. In this case, 291.1, 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 291.1, target 286.88, Stop Loss @ 291.78. Details

The technical summary data is suggesting a short of RS if it tests 291.1 with a downside target of 286.88. We should have a stop loss in place at 291.78 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, 291.1, 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 January 23:

Term →	Near	Mid	Long
Rating	Strong	Strong	Neutral
P1	0	0	259.09
P2	291.1	286.88	283.08
P3	295.56	296.05	307.76

AI Generated Signals for RS

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