Is Reliance Steel & Aluminum Co (RS) Stock About to Get Hot Tuesday?

Tuesday, March 24, 2020 1:11 PM | InvestorsObserver Analysts

Reliance Steel & Aluminum Co (RS) stock has fallen 3.97% over the past week and gets a Bearish rating from InvestorsObserver's Sentiment Indicator.

Sentiment Score - ,bearish
Reliance Steel & Aluminum Co has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on RS!

What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.

As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.

Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.

InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.

The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With RS Stock Today?

Reliance Steel & Aluminum Co (RS) stock is trading at $80.14 as of 1:09 PM on Tuesday, Mar 24, a rise of $8.72, or 12.21% from the previous closing price of $71.42. The stock has traded between $73.86 and $81.89 so far today. Volume today is less active than usual. So far 398,281 shares have traded compared to average volume of 717,004 shares.

To see InvestorsObserver's Sentiment Score for Reliance Steel & Aluminum Co click here.

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