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Reliance Steel & Aluminum Set to Pullback after Yesterday's Rally of 1.74% (RS)
Sep 10,2010 09:20CST
industry news
Source:SMM
Reliance Steel & Aluminum

Sep 09, 2010 (SmarTrend(R) News Watch via COMTEX) -- Reliance Steel & Aluminum (NYSE:RS) traded in a range yesterday that spanned from a low of $40.27 to a high of $41.49. Yesterday, the shares gained 1.74%, which took the trading range above the 3-day high of $40.92 on volume of 714,000 shares.

Shares of Reliance Steel & Aluminum are currently trading above their 50-day moving average (MA) of $38.33 and should find resistance at their 200-day MA of $43.78. Look for these MAs to provide support for a short-term pullback in the shares.
 

Aluminum Al

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