Reliance Steel & Aluminum stock trades under the ticker RS & has recently shown bullish behavior that traders & investors should take a closer look into.
RS stock closed at $169.64/share on 7/6/2022.
Reliance Steel & Aluminum RS Stock’s Technical Performance Broken Down
RS Stock Price: $169.64
10 Day Moving Average: $170.03
50 Day Moving Average: $185.05
200 Day Moving Average: $168.41
RSI: 41.03
MACD: -4.794
Yesterday, RS stock completed a bullish MACD crossover, settling right between their 10 & 200 day moving averages.
Their recent trading volume has been above average compared to the year prior, and their RSI is on the oversold side of neutral, signaling that there may be more momentum to come in the near-term.
They will need to break out above the $170.31 & $172.85 resistance levels as they continue to climb higher.
Reliance Steel & Aluminum RS Stock As A Long-Term Investment
Long-term oriented investors will like RS stock’s valuation metrics, with a 6.53 P/E (ttm) & a 1.62 P/B (mrq).
They recently reported Quarterly Revenue Growth Y-o-Y of 58%, with 96.1% Quarterly Earnings Growth Y-o-Y.
Their balance sheet will require a closer examination though, with $548M of Total Cash (mrq), and $1.86B of Total Debt (mrq).
RS stock pays a 1.73% dividend yield, which appears stable in the long-term with a 11.22% payout ratio.
85.41% of RS stock’s outstanding share float is owned by institutional investors.
Reliance Steel & Aluminum RS Stock As A Short-Term Trade Using Options
Short-term focused traders can use options to profit from price movements in RS stock, while hedging against broader market volatility.
I am looking at the contracts with the 7/15 expiration date.
The $145, $165 & $155 call options are all in-0the-money, listed in order of most to least liquid.
The $185, $170 & $180 puts are also all in-the-money, listed from highest to lowest levels of open interest.
Tying It All Together
RS stock has many unique attributes that traders & investors should find appealing.
Investors will like their valuation metrics & dividend yield, but may want to research their balance sheet further before making an investment.
Traders will like their current technical set up, but may wish their options were more liquid.
Overall, RS stock is worth taking a closer look into to see how it fits into your portfolio strategy.
*** I DO NOT OWN SHARES OF RS STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***