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(RS) Reliance Steel complete technical analysis [charts+indicators] | Buy/Sell Reliance Steel | (RS) share price targets

Complete technical analysis of Reliance Steel (RS) by charts plus indicators, forecast predictions and share price targets for Reliance Steel (RS)

Reliance Steel trades in USA in Basic Industries sector.

Showing technical analysis as on 2024-02-20 View latest technical analysis

10 day averaged volume of Reliance Steel is 266050

Date	Daily Closing Price	Open	High	Low	Volume
20 Tue Feb 2024	317.57	323.36	325.82	317.32	1.592 times
16 Fri Feb 2024	326.43	331.40	333.33	326.40	1.485 times
15 Thu Feb 2024	332.34	319.88	332.66	318.14	2.257 times
14 Wed Feb 2024	294.65	290.71	295.27	288.57	1.093 times
13 Tue Feb 2024	289.07	293.08	294.68	286.25	0.96 times
12 Mon Feb 2024	298.47	300.00	302.89	298.10	0.927 times
09 Fri Feb 2024	299.61	298.51	299.75	297.60	0.771 times
08 Thu Feb 2024	297.43	297.70	298.55	296.86	0.706 times
07 Wed Feb 2024	298.26	292.73	298.60	291.91	0.756 times
06 Tue Feb 2024	291.39	288.52	291.69	287.55	0.563 times

My analysis of stock is bullish for shortterm, but trade for tomorrow is selective. Take a BUY trade only if stock stays above 309.2, but if it comes below 309.2, then a intra day sell could be more profitable.
If you take a sell trade below 309.2, then use 309.2 as stoploss and 294.94 as target. However if you take a buy trade in stock , then use 309.2 as stoploss and 326.3 as target.

Share price targets for Reliance Steel (RS)

Target Type	Value
Downside Target	237.14
Downside Target	253.71
Downside Target	261.77
Downside Target	267.60
Downside Target	273.88
Downside Target	291.45
Downside Target	292.24
Downside Target	299.75
Downside Target	317.32
Upside Target	325.82
Upside Target	333.33

Intraday share price targets for Reliance Steel (RS)

Target Type	Value
Downside Intraday Target	314.65
Downside Intraday Target	311.74
Upside Intraday Target	323.15
Upside Intraday Target	328.74
Upside Intraday Target	320.24

Weekly technical analysis of Reliance Steel (RS)

Date	Weekly Closing Price	Open	High	Low	Volume
20 Tue Feb 2024	317.57	323.36	325.82	317.32	0.237 times
16 Fri Feb 2024	326.43	300.00	333.33	286.25	2.051 times
09 Fri Feb 2024	299.61	287.74	299.75	285.14	0.868 times
02 Fri Feb 2024	290.14	281.76	292.24	279.86	1.103 times
26 Fri Jan 2024	281.29	278.47	286.69	278.13	1.291 times

Price has moved down this week, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming weeks.

Monthly technical analysis of Reliance Steel (RS)

Date	Monthly Closing Price	Open	High	Low	Volume
20 Tue Feb 2024	317.57	286.39	333.33	285.14	0.809 times
31 Wed Jan 2024	285.42	278.77	291.45	273.88	0.804 times
29 Fri Dec 2023	279.68	276.40	284.33	261.77	0.865 times
30 Thu Nov 2023	275.26	254.41	275.98	253.71	0.79 times

Scroll below to view daily charts

Price has moved up this month, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming months.

Indicators analysis of Reliance Steel (RS)

Price action analysis of Reliance Steel ( (RS) ) based on a short term time period is definitely positive! This means that there is a strong uptrend in the stock for the given time period. Buyers are extremely bullish on the stock.

Price action analysis of Reliance Steel ( (RS) ) based on a short to mid term time period is definitely positive! This means that there is a strong uptrend in the stock for the given time period. Buyers are extremely bullish on the stock.

Price action analysis of Reliance Steel ( (RS) ) based on a mid to longer term time period is definitely positive! This means that there is a strong uptrend in the stock for the given time period. Buyers are extremely bullish on the stock.

ADX buy sell signal for Reliance Steel stock for short term is BUY. Signal strength is Strong and stock is losing momentum.

MACD generated a BUY signal for Reliance Steel in short term and the buy signal is strong.

MACD line is moving upwards which means that SELL signal is weakening, and buying is picking up momentum.

Reliance Steel Stock is trading near its recent HIGHS, which reflects strong buying momentum in short term! Bulls are getting stronger in this stock.

Ichimoku cloud is of green color and prices are above the green cloud Prices appear to be coming down

CCI has generated a SELL signal for Reliance Steel in short term but SELL signal is weak.

RSI is generating a BUY signal in short term but buying is losing momentum.

MRSI is in positive zone. This is a BUY zone

Stock of Reliance Steel is picking up buying momentum according to indicator.

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 310.28 and Reliance Steel (RS) stock is trading above this level. This is a good sign for the stock and it could move higher. VWAP is rising upwards.

People seem to be coming out and selling the Reliance Steel (RS) stock. Volume based technical analysis of Reliance Steel (RS) stock is negative.

Reliance Steel Stock is giving positive returns over a short term period. Returns for a longer term period have been positive

Force Index is moving in a negative zone, which indicates selling momentum for short term... Selling momentum is getting weaker.