The Hourly View for RS
At the moment, RS (Get Ratings)’s price is down $-1.24 (-0.72%) from the hour prior. This is the 2nd hour in a row RS has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Out of Wholesale stocks, RS ranks 88th in regards to today’s price percentage change.
RS’s Technical Outlook on the Daily Chart
At the time of this writing, RS’s price is down $-2.1 (-1.22%) from the day prior. This is a reversal of the price action on the previous day, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Reliance Steel & Aluminum Co’s price action over the past 90 days can be seen via the chart below.
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