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What is the Market's View on Reliance Steel & Aluminum Co (RS) Stock's Price and Volume Trends Monday?

Monday, October 18, 2021 11:51 AM | InvestorsObserver Analysts
What is the Market's View on Reliance Steel & Aluminum Co (RS) Stock's Price and Volume Trends Monday?

Reliance Steel & Aluminum Co (RS) stock has gained 1.73% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.

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

What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment. Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down. InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend. Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With RS Stock Today?

Reliance Steel & Aluminum Co (RS) stock is lower by -0.73% while the S&P 500 is up 0.21% as of 11:33 AM on Monday, Oct 18. RS has fallen -$1.07 from the previous closing price of $147.58 on volume of 87,092 shares. Over the past year the S&P 500 has gained 30.75% while RS is up 30.35%. RS earned $12.72 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 11.54. To screen for more stocks like Reliance Steel & Aluminum Co click here.

More About Reliance Steel & Aluminum Co

Reliance Steel & Aluminum is a metal service center in the United States, providing metal processing and inventory management services for carbon and stainless steel, aluminum, and alloys. The company provides over 100,000 product types to approximately more than 125,000 customers. Reliance predominantly supplies the nonresidential construction, automotive, aerospace, energy, transportation, and heavy equipment end markets. Its product offerings comprise alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products. Click Here to get the full Stock Report for Reliance Steel & Aluminum Co stock.

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