Trading (RS) With Integrated Risk Controls

July 19, 2024, 07:42 am ET, BY Allen K.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for RS

• Buy RS slightly over 307.06 target 333.13 stop loss @ 306.17 Details

The technical summary data tells us to buy RS near 307.06 with an upside target of 333.13. This data also tells us to set a stop loss @ 306.17 to protect against excessive loss in case the stock begins to move against the trade. 307.06 is the first level of support below 307.96 , and by rule, any test of support is a buy signal. In this case, support 307.06 is being tested, a buy signal would exist.

• Short RS slightly under 333.13, target 307.06, stop loss @ 334.09 Details

The technical summary data is suggesting a short of RS as it gets near 333.13 with a downside target of 307.06. We should have a stop loss in place at 334.09though. 333.13 is the first level of resistance above 307.96, and by rule, any test of resistance is a short signal. In this case, if resistance 333.13 is being tested, a short signal would exist.

Swing Trading Plans for RS

• Buy RS slightly over 315.79, target 333.13, Stop Loss @ 314.88 Details

If 315.79 begins to break higher, the technical summary data tells us to buy RS just slightly over 315.79, with an upside target of 333.13. The data also tells us to set a stop loss @ 314.88 in case the stock turns against the trade. 315.79 is the first level of resistance above 307.96, and by rule, any break above resistance is a buy signal. In this case, 315.79, 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 315.79, target 307.06, Stop Loss @ 316.7. Details

The technical summary data is suggesting a short of RS if it tests 315.79 with a downside target of 307.06. We should have a stop loss in place at 316.7 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, 315.79, 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 309.59, target 313.18, Stop Loss @ 308.87 Details

If 309.59 begins to break higher, the technical summary data tells us to buy RS just slightly over 309.59, with an upside target of 313.18. The data also tells us to set a stop loss @ 308.87 in case the stock turns against the trade. 309.59 is the first level of resistance above 307.96, and by rule, any break above resistance is a buy signal. In this case, 309.59, 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 309.59, target 307.06, Stop Loss @ 310.31. Details

The technical summary data is suggesting a short of RS if it tests 309.59 with a downside target of 307.06. We should have a stop loss in place at 310.31 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, 309.59, 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 July 19:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	281.65
P2	309.59	305.13	307.06
P3	313.18	315.79	333.13

AI Generated Signals for RS

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Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Reliance Steel & Aluminum Co. (de) (NYSE: RS) report below can help you, but we have more details too. The trading plans for RS, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.