RELIANCE INC (RS) Stock Technical Analysis
USA - NYSE:RS - US7595091023 - Common Stock
We assign a technical rating of 0 out of 10 to RS. RS's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
Although the technical rating is bad, RS does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 272.69, a Stop Loss order could be placed below this zone.
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259.45
2 important support areas can be observed.
- A support zone ranging from 271.85 to 272.69. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 262.07 to 267.04. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- Resistance @293.66 from a horizontal line in the daily time frame.
- A resistance zone ranging from 299.00 to 299.00. 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 | DOWN | NEGATIVE | The long term trend for RS is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for RS is neutral. |
| ChartMill Relative Strength | 23.75 | NEGATIVE | RS has a low relative strength, it was outperformed by 76.25% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of RS is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of RS is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of RS is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 44.29 | NEUTRAL | The RSI value for RS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.84 | POSITIVE | The MACD value suggests RS has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 80.43 | OVERBOUGHT | The high Stochastics value suggests RS may be overbought. |
| Average True Range in percent/ATR (20) | 2.71 | MEDIUM VOLATILITY | The ATR as a percentage value for RS suggests some volalility. |
| Average Directional Index/ADX (14) | 18.96 | NEGATIVE | The low ADX value for RS suggests a weak or negative trend. |
275.79
-5.55 (-1.97%)
RELIANCE INC / RS FAQ
What is the technical rating for RS stock?
ChartMill assigns a technical rating of 0 / 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 44.2889. 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 0.842065, indicating a bearish trend.