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Bullish Moving Average Cross by Reliance Steel & Aluminum (RS)

By David Diaz

Today, shares of Reliance Steel & Aluminum (NYSE:RS) have advanced above their 10-day MA of $76.13 on a volume of 151K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Reliance Steel & Aluminum have traded between a low of $50.08 and a high of $78.30 and are now at $76.60, which is 53% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.6%.

SmarTrend recommended that subscribers consider buying shares of Reliance Steel & Aluminum on January 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $55.68. Since that recommendation, shares of Reliance Steel & Aluminum have risen 36.2%. We continue to monitor RS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses reliance steel & aluminum

Ticker(s): RS