RELIANCE INC (RS) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:RS - US7595091023 - Common Stock
We assign a technical rating of 5 out of 10 to RS. In the past year, RS was only an average performing stock in the market. The medium term picture is unclear, although we see some positive events in recent action.
Although the technical rating is only medium, RS does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 291.89. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 286.57, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
259.45
We found 2 important support areas.
- A support zone ranging from 277.87 to 286.57. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 262.07 to 272.69. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 291.89 to 293.66. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @340.04 from a horizontal line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for RS is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for RS is up. |
| ChartMill Relative Strength | 56.95 | NEUTRAL | RS is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of RS is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of RS is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of RS is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 63.51 | NEUTRAL | The RSI value for RS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.41 | POSITIVE | The MACD value suggests RS has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 87.23 | OVERBOUGHT | The high Stochastics value suggests RS may be overbought. |
| Average True Range in percent/ATR (20) | 2.31 | MEDIUM VOLATILITY | The ATR as a percentage value for RS suggests some volalility. |
| Average Directional Index/ADX (14) | 26.79 | POSITIVE | The high ADX value value for RS suggests a strong trend. |
291.88
+0.35 (+0.12%)
RELIANCE INC / RS FAQ
What is the technical rating for RS stock?
ChartMill assigns a technical rating of 5 / 10 to RS.
Can you provide the trend direction for RELIANCE INC?
The current trend direction for RELIANCE INC (RS) is Bearish.
What is the RSI signal for RS stock?
RELIANCE INC (RS) has an RSI value of 63.5052. This indicates that the stock is currently neutral.
Can you provide the MACD signal for RELIANCE INC?
The MACD indicator for RELIANCE INC (RS) has a value of 1.40727, indicating a bullish trend.