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Reliance Steel Crosses Above its 10-day MA (RS)

By James Quinn

Reliance Steel (NYSE:RS) shares have crossed bullishly above their 10-day moving average of $93.46 on a volume of 290K 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, Reliance Steel share prices have been bracketed by a low of $68.62 and a high of $99.50 and are now at $99.50, 45% above that low price. The 200-day and 50-day moving averages have moved 0.14% higher and 0.25% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Reliance Steel on June 11th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $88.71. Since that recommendation, shares of Reliance Steel have risen 5.0%. 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

Ticker(s): RS